The world’s largest decentralized trade protocol Uniswap has acquired the primary NFT market aggregator Genie. Uniswap said they acquired Genie because of their mission to unlock common possession and trade.
Uniswap to develop product line by integrating NFTs
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In a bid to make Uniswap a superb platform for customers and builders in Web3, the Decentralized finance protocol Uniswap can be integrating NFTs into their line of merchandise, they’d additionally combine NFTs into developer APIs and widgets.
The DeFi protocol in its announcement mentioned this isn’t their first time coming into the NFTs house asthey had launched Unisocks – a platform for NFT liquidity swimming pools and NFTs backed by actual world property – in 2019. It additionally labored on Uniswap v3 NFT which helped pioneer on-chain generative SVGs.
We see NFTs as one other format for worth within the rising digital economic system—not a separate ecosystem from ERC20s—and so they’re already an necessary gateway to web3. The corporate mentioned within the announcement on its weblog.
According to Web3 ethos, Uniswap can be sharing a few of the worth with historic Genie customers by means of a USDC airdrop. The airdrop will launch in August and be obtainable to be claimed for as much as 12 months, in accordance with the corporate.
Solana NFT market Magic Eden raises $130 million In a funding spherical
Magic Eden, the present kingpin of the Solana NFT neighborhood, which handles greater than 90% of the ecosystem’s quantity has raised a whooping $130 million in a Sequence B funding co-led by Greylock and Electrical Capital.
The spherical which was introduced on Tuesday brings Magic Eden to a $1.6 billion valuation placing it on the identical degree with the Sequence B of Opensea. Magic Eden beforehand raised a $27 million Sequence A led by Paradigm, Sequoia and Solana Ventures in March.
Magic Eden says it plans to make the most of the funds by increasing its major and secondary marketplaces, in addition to discover “multichain alternatives,” in accordance with a press launch.
CEO of Magic Eden Jack Lu, mentioned in an announcement that they’re conscious NFTs is probably the most environment friendly strategy to introduce individuals to the blockchain.
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The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.