UniSwap Labs the main developer behind the leading decentralized protocol UniSwap has acquired the NFT marketplace aggregator Genie. The move will further incorporate NFT functionality into UniSwap Labs’ product range.
In an announcement made by UniSwap on Tuesday, the developers said the move will unlock universal ownership and exchange NFTs on the DeFi protocol.
1/ The Uniswap Universe is expanding 🦄
In pursuit of our mission to unlock universal ownership and exchange, we’re excited to share that we’ve acquired @geniexyz — the first NFT marketplace aggregator — expanding our products to include both ERC-20s and NFTs 🧞♂️ pic.twitter.com/vESlbE3kvy
— Uniswap Labs 🦄 (@Uniswap) June 21, 2022
The acquisition of Genie will enable UniSwap to incorporate NFT marketplaces into the UniSwap web app and also integrate NFTs into its widgets and APIs. This will make UniSwap a “’comprehensive platform for users and builders in Web3.”
Buying and selling NFTs on UniSwap
According to a tweet on a tweet thread by UniSwap, the protocol said that people will be able to buy and sell NFTs directly on the UniSwap web app starting this fall.
The tweet reads:
“Starting this fall, you’ll be able to buy and sell NFTs directly on the Uniswap web app. And we’ll integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3.”
This is not the first UniSwap is being involved with NFTs. In 2019, it launched Unisocks, which offers NFT liquidity pools backed by real-world assets. Therefore, the Genie acquisition will go a long way in bolstering the protocol’s NFT agenda.
In line with the Genie acquisition, UniSwap said that it plans a USDC airdrop to historical Genie users claimable for up to twelve months.