This is how Uniswap (UNI) plans to conquer the NFT market
The DeFi giant is expanding further into the most sought-after segment of the crypto market
One of the major players in DeFi, Uniswap (UNI), continues to make its way into the NFT sector, to merge A decentralized NFT exchange to provide efficient NFT swaps to users.
– Scott 🦄 (Scott_eth) July 22 2022
A final NFT trading solution on Uniswap is supposed to arrive by the fall, but work on it is already underway as evidenced in the above post from Uniswap’s Head of NFT Ventures.
The move is a logical follow-up to the June purchase of the NFT Genie market aggregation platform. While this transaction gave Uniswap users access to NFTs from multiple trading venues in one location, the sudoswap integration will allow users to buy or sell NFTs in a decentralized manner directly from Uniswap as well as create their own NFT liquidity pools. In addition, the platform is gas optimized and only charges 0.5% commission, which is five times less than main competitor OpenSea.
Uniswap continues to expand in the crypto space
The integration of the sudoswap program greatly reflects Uniswap’s ambitions. First, the largest Ethereum-based DEX took over half of Coinbase’s trading volume, and now it has seriously decided to take over a portion of the market where well-known NFT markets such as OpenSea and LooksRare are located.
The Uniswap team itself also speaks positively about the most interesting and perhaps the most attractive segment of the cryptocurrency market, describing NFT tokens as a complete form of value in a thriving digital economy.