30 Nov 2022
With a $5 million airdrop, Uniswap launches NFT trading
The funds were acquired in June when the decentralized exchange purchased the NFT marketplace aggregator Genie and are now being distributed to Genie's former users.
On Wednesday, the decentralized cryptocurrency exchange Uniswap announced that non-fungible token (NFT) trading is now available.
Users of Uniswap will be able to trade digital collectibles
Utilizing the platform's NFT aggregator tool across OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20 marketplaces.
The platform also claims that its brand-new open-sourced Universal Router contract can help users cut their gas costs by up to 15% compared to other NFT aggregators.
The company stated:
“NFTs and ERC-20 tokens have largely existed as separate ecosystems within crypto, but both are essential to growing the digital economy.”
The first step in creating more interoperable experiences between the two is to launch NFTs on Uniswap.
A $5 million airdrop to past Genie users, the NFT marketplace aggregator Uniswap purchased in June, coincides with the announcement.
The company claims that Genie users will receive an airdrop of $300 for completing multiple transactions or $1,000 for holding a Genie: Genesis NFT before Uniswap's April snapshot. For the following 12 months, eligible users can claim their airdrop in USDC.
Additionally, Uniswap is providing gas rebates of up to 0.01 ether for the first 22,000 new users who buy an NFT (ETH).
The most recent offering from Uniswap will go up against Blur, an NFT aggregator backed by venture capital firm Paradigm and launched in October.
The NFT offerings from Blur and Uniswap are targeted at professional NFT traders who are still making purchases despite a prolonged crypto winter.
The first open-source NFT platform of its kind, according to Uniswap, NFTs were first made available by the decentralized exchange in 2019 with the introduction of Unisocks, a test-market cryptocurrency backed by actual, limited-edition pairs of socks.
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