Skip to main content

Uniswap wants to finance NFTs and is talking with lending protocols about how to do this.

Uniswap wants to finance NFTs and is talking with lending protocols about how to do this.

In a tweet from the head of NFT product, it is said that the exchange is in touch with several NFT lending protocols to build NFT financialization.

According to a social media post by Uniswap's head of nonfungible token (NFT) product Scott Lewis, the exchange was in talks with several NFT lending protocols.

In the tweet, Lewis says that the company wants to work on both liquidity problems and the lack of information about NFTs.

While NFT financialization is Uniswap's goal for these talks and possible collaborations with lending protocols, the crowd on Twitter gave a mixed response.

Some users saw the decision as a step toward making the future of DeFi, which stands for "decentralized finance."

Other users wondered why Uniswap was interested in NFT financialization and suggested that it was to make money from liquidation.

In the last few months, Uniswap has made a lot of progress toward adding NFT activity to its services.

One of the biggest decentralized exchanges (DEXs) in the world, Uniswap has almost $6 billion worth of assets in its liquidity pools.

.net/YwotbKdP4sVunJGfdhmgww/e8f260a6-84bf-4222-a093-e1ef14e44c00/

In June, the company announced that it had bought Genie, a platform for aggregating NFT marketplaces that lets users find and trade digital assets on most platforms.

Shortly after that, Lewis sent out a tweet saying that Uniswap plans to add NFTs with full support for Sudoswap.

Sudosawp lets people talk about NFT sales and create liquidity pools for NFTs in a private way.

This is not the first time the company has done something in the NFT space. In 2019, they released Unisocks, which were the first NFT liquidity pools.

But this latest push for NFT activity is happening at the same time that these digital assets are becoming more popular and useful inside and outside of the DeFi space.

Industries use tokenized digital assets for everything from real estate contracts to digital fashion to selling collectibles and making money off of music rights.

OpenSea, MagicEden, and even eBay, which are all similar platforms, are going full speed into the Wild West of NFTs.

DappRadar's Q2 industry report even hinted that there could be a fight between NFT platforms in the future.

Comments

Popular posts from this blog

When is the best time to buy cryptocurrency?

It's important to remember that, unlike traditional stock markets, the cryptocurrency market is open 24 hours a day, 7 days a week. Bitcoin can be bought at any time and from anywhere by anyone with an internet connection. A study found that the best days to buy Bitcoin are Sundays and Mondays, when the price of the cryptocurrency is the lowest. The best time to buy BTC is Sunday evening because trading on all cryptocurrency exchanges tends to slow down over the weekend. The big US derivatives company CME Group takes the weekend off. Every day, institutional investors trade more than $500 million worth of bitcoin, which is a big chunk of bitcoin's total volume around the world. When should you buy crypto? Since crypto trades all day, even into the early morning hours (no matter where you live), it can be hard to time your trades to a certain time of day. But if you look at data from a few months, you can see a few very broad trends. Trading for Bitcoin (CRYPTO: BTC), Ether (CRY...

China's CBDC wallet turns to centuries-old customs to increase adoption

The digital yuan wallet app has been updated to include a traditional Chinese method of gifting money that has gone digital with the growth of digital payments. In an effort to draw in more users, China's wallet app for its digital yuan central bank digital currency (CBDC) added a feature that allows users to send money in an electronic equivalent of traditional "red packets." According to a Dec. 26 article in the South China Morning Post, the new feature was released over the weekend, about one month before the Chinese New Year on Jan. 22. The "red packets," also known as hongbao in China, are customarily used for giving money as a sign of good fortune during Chinese New Year celebrations and other occasions. Popular local services like WeChat Pay and Alipay now offer virtual red envelopes as a result of the growing use of digital payments. The e-CNY app reportedly allows a red packet to be sent to just one recipient, or a "lucky draw" can be set up f...

The Advantages Of Higher Monthly Payments

In today's financial landscape, optimizing your finances is essential for securing a stable and prosperous future. At Finance Spiders, we understand the importance of making informed financial decisions, and one strategy that can greatly benefit your financial health is increasing your monthly payments. In this comprehensive guide, we delve into the myriad advantages of boosting your monthly payments, ensuring that you have all the information you need to make this smart financial move. Discover the benefits of  Higher Monthly Payments  with Finance Spiders today! Additionally, if you're wondering,  Personal loan can be taken for how many years?  We can guide that too. Explore the world of Higher Monthly Payments and get answers to your financial questions with Finance Spiders today! Understanding The Power Of Increased Monthly Payments Before we explore the advantages, let's clarify what increasing monthly payments entails. When you make financial commitments, such ...