Leading DEX Uniswap has announced buying NFT marketplace aggregator Genie for an unspecified amount. The platform has now expanded its products to include both ERC-20s and NFTs. Further, the exchange published a blog and stated,
NFTs will be integrated into our products, starting with the Uniswap web app, where soon you’ll be able to buy and sell NFTs across all major marketplaces. We’ll also integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3.
The trading platform’s foray into NFTs began in 2019, as it launched Unisocks, the first instance of NFT liquidity pools, and of NFTs backed by real-world assets. Per the blog, the DEX revealed a USDC airdrop for historical Genie users.
“The airdrop will launch in August and be claimable for up to 12 months, based on a snapshot that has already been taken. Stay tuned for more details,” the blog read.
The blog post ended with a disclaimer that the acquisition would not affect the Uniswap Protocol, Governance, or the UNI token. And that Genie users will continue to have uninterrupted service to its website until the new Uniswap NFT experience is available.
Following the integration, UNI’s price surged by 16% in just 6 hours. At the time of publication, the value stood at $4.84, up by 7% in the past 24 hours.
Uniswap Surpassed Ethereum in Terms of Daily Fees
Two days back, Uniswap overtook its home network, Ethereum. With $4.3 million in fees generated as of June 20, the world’s largest decentralized exchange [DEX] has jumped to the top of CryptoFees’ leaderboard.
Even though its holders don’t get a piece of the cash flows, which come from users paying a fee when swapping between digital assets.
Still, as one of the most recognizable DeFi players and other smart contract-enabled activities, it’s noteworthy that a protocol topped Ethereum, in terms of fee generation.
Above all, the lucrative fees have come during an extremely turbulent period for crypto and world markets at large. It is quite apparent by now, despite being a dismal year for digital asset prices, that the DeFi sector keeps on working.