Uniswap rolls out its new NFT aggregator

Uniswap Labs, the developer of the decentralized exchange protocol Uniswap, is starting a new NFT marketplace, aiming to break the barrier between crypto exchanges and NFT markets. Uniswap is also airdropping $5 million to early Genie adopters.

Uniswap, one of the most popular DeFi protocols, wants to foray into the NFT sector with its own aggregator. Its users will be able to view listings and “global floor” prices across seven different marketplaces, bulk-buy NFTs in a single transaction, and list NFTs for sale across marketplaces. The new marketplace aggregates NFTs up for sale from OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, and NFT20.

“Historically, everyone views tokens and NFTs as two very separate experiences. But at the end of the day, they’re both digital assets and the goal is to unlock universal ownership in exchange for creators and communities,” Scott Gray, Uniswap Labs’ head of NFT product, said. “NFTs and tokens are just two different ways to unlock value in our digital worlds.”

Uniswap Labs has been working on the product since June when it purchased NFT aggregator Genie as part of expansion efforts. But Uniswap’s NFT product isn’t just a repackaged Genie. Gray told Decrypt that more marketplaces have been added and its smart contract has been revamped to be up to 15% cheaper on gas fees than other aggregators.

Also, Uniswap will be offering limited gas rebates to its first 22,000 aggregator users on their first transaction (up to 0.01 ETH each) as a part of the launch till December 14. Early Genie adopters will also be eligible to receive part of a $5 million USDC airdrop for “certain historical Genie users” via Uniswap’s official site to celebrate the launch. Genie users that made more than one transaction before April 15 will be eligible for $300 each, while holders of Genie’s Genesis NFTs or Genie Gem NFTs will be eligible for $1,000 each.

However, Uniswap’s new aggregator isn’t its first foray into the NFT space. The exchange previously launched a limited collection of “phygital” Ethereum NFTs called Unisocks, which are digital socks that can be “burned” and redeemed for an IRL physical pair.

In April, OpenSea also purchased Genie’s rival Gem. A month later, Rarible’s marketplace introduced aggregation from platforms such as OpenSea.