Uniswap Is In Talks With Lending Protocols For NFT Financialization
Uniswap, a noticeable crypto exchange is presently conversing with several NFT lending venues, as per a social media post shared by Scott Lewis (the head of NFT product at Uniswap). In his tweet, the Uniswap executive discloses the interest of the firm in dealing with both liquidity problems as well as the information asymmetry prevailing around the NFT market.
Uniswap Envisions NFT Financialization and Talks on It with a Few Lending Protocols
He added that the platform is talking with up to seven lending protocols. As per him, the organization will focus on operating with each of them to have a solution for information asymmetry and liquidity fragmentation. This counts to be the initial move toward the establishment of NFT financialization.
As the target of Uniswap behind the respective talks as well as the likely partnerships with prominent lending venues counts as NFT financialization, the Twitter community voiced mixed responses. A few of the consumers considered that the move was positive and could fortify decentralized finance’s future. Nonetheless, the rest of the consumers went against it and objected to the motives of Uniswap at the back of its move toward NFT financialization.
They even mentioned that the company was to take benefit of the liquidation gains. In recent months, Uniswap has taken huge steps in the direction of incorporating NFT operations in the service offerings thereof. The platform is known as one of the biggest decentralized exchange forums across the globe that contains approximately $6B in assets present in the liquidity pools run by it.
Uniswap Acquires Genie to Facilitate Users
It was in June that the venue expressed having acquired Genie (an aggregator of the NFT marketplace), permitting the customers to discover as well as trade their digital assets throughout the majority of forums. Soon after, Lewis shared a tweet noting that the company has a strategy to offer NFTs that will have complete Sudoswap support.
With Sudoswap, the customers are permitted to have anonymous interactions across the NFT sales as well as to create liquidity pools of NFTs. However, this does not count as the initial move of the company into the sector of NFTs. In 2019, Unisocks were launched by them as the initial venture into the non-fungible token-related liquidity pools.
Nevertheless, the exclusive interest in the NFT operations is witnessed at a time when the respective digital assets are acquiring additional traction along with the use cases within as well as external to the DeFi world.
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