Users can now trade non-fungible tokens (NFTs) on Uniswap’s new marketplace, the crypto exchange announced Wednesday. The marketplace allows users to trade NFTs across major platforms such as OpenSea, LooksRare, Larva Labs, Sudoswap, X2Y2, Foundation, and NFT20.
Uniswap Users Can Now Trade NFTs
Uniswap launched its NFT marketplace aggregator service Wednesday, allowing users to trade NFTs across OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20 platforms. The marketplace aims to reinforce the connection between crypto exchanges and NFT trading platforms.
“NFTs and ERC-20 tokens have largely existed as two separate ecosystems within crypto, but both are essential to growing the digital economy,” the company said in a statement. “Launching NFTs on Uniswap is our first step in building more interoperable experiences between the two.”
Uniswap, a decentralized crypto exchange, said users of the new marketplace can save up to 15% in gas fees compared to other NFT aggregator tools, thanks to its unique open-sourced Universal Router contract. Further, the NFT marketplace offers gas discounts for the first 22,000 new users who buy an NFT, with a rebate cap of 0.01 ether.
Along with the launch, Uniswap also announced a $5 million airdrop to users of Genie, an NFT marketplace Uniswap acquired earlier this year. The decentralized crypto exchange said Genie users will claim a $300 airdrop for carrying out more than 1 transaction or $1,000 for holding a Genie. Users eligible for the airdrop can obtain their rewards in USDC over the following 12 months.
NFT Aggregators Gaining Popularity
Uniswap’s NFT aggregator is the latest tool of that kind that was launched in recent months. In April, OpenSea bought Gem, one of the main Genie’s rivals. NFT marketplace Rarible also introduced its own NFT aggregator in October.
Last month, Uniswap bagged $165 million in a Series B funding round led by Polychain Capital. Uniswap said at the time it will use a portion of that funding to develop an NFT aggregator tool to “unlock new interaction between tokens and NFTs.”
The launch comes amid a critical period for the NFT market, which has seen a significant slump in sales in Q3 2022 due to a broader market downturn. On a more positive note, gaming retailer GameStop said this month that its marketplace saw $5 million in trading volume in the first week.
This article originally appeared on The Tokenist
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