UniSwap Ventures Into NFTs Through Acquisition of Genie

UniSwap Labs have acquired NFT aggregation platform ‘Genie,’ to allow UniSwap’s DEX services to branch out into NFT and ERC-20 token trading.

UniSwap Labs, the developer behind the namesake Ethereum-based crypto-exchange, is taking an explicit step into the realm of NFTs through its acquisition of NFT aggregation platform ‘Genie’. 

Coming some time this Autumn, the acquisition will expand on the platform’s DEX services by allowing its web app users to buy and sell NFTs on all major marketplaces. In an effort to rival the likes of OpenSea and Nifty Gateway, as well as to ensure that users become those of the ‘returning’ sort, the UniSwap NFT trading experience will also be augmented with special APIs and widgets from its developers.

UniSwap’s acquisition of Genie will also see tokens of the ERC-20 kind be added to its product line. 

To welcome existing Genie community members to the new UniSwap NFT trading ecosystem, the company will be issuing USDC tokens to those who used Genie more than once before April 15th, as well as those who hold a GENIE:GEM NFT. To ensure all tokens are received, the airdrops will be redeemable for 12 months. 

Read the official announcement of UniSwap’s acquisition of Genie here. 

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