Uniswap Labs Acquires Genie NFT Marketplace and Announces Airdrop

Uniswap Labs, the company behind the development of the DEX of the same name, announced the purchase of Genie non-fungible token aggregator marketplace.

1/ The Uniswap Universe is expanding 🦄
In pursuit of our mission to unlock universal ownership and exchange, we’re excited to share that we’ve acquired @geniexyz — the first NFT marketplace aggregator — expanding our products to include both ERC-20s and NFTs 🧞‍♂️ pic.twitter.com/vESlbE3kvy
— Uniswap Labs 🦄 (@Uniswap) June 21, 2022

Uniswap apps, where you will soon be able to buy and sell non-fungible tokens on all major marketplaces. We are also integrating NFT into our developer APIs and widgets,” the company blog says.

Support for new options is planned for this fall.

“We see NFT as another value format in the growing digital economy,” the developers emphasized.

Non-fungible, they say tokens are a gateway to Web3.

What is NFT?

Genie users will have access to the marketplace until NFT is fully integrated by the exchange.

As part of the deal, Uniswap will airdrop the USDC stablecoin in August to Genie users who have used the platform more than once before April 15, as well as to GENIE:GEM NFT holders.

The leading exchange has been experimenting with NFT for a long time: back in the spring of 2019 Uniswap released Unisocks tokens as a joke. Against the backdrop of hype around the segment, in early 2021, the price of SOCKS reached $92,500. In May of the same year, an unknown person exchanged Unisocks worth $875,000 for nine pairs of socks.

Recall that the volume of deals made on Uniswap has exceeded $1 trillion since its launch in 2018.