Uniswap Labs Acquires NFT Marketplace Aggregator Genie

Uniswap Labs, the company behind Uniswap, the world’s largest decentralized exchange protocol, announced on Tuesday that it had acquired Genie, the first NFT marketplace aggregator, which lets people discover and trade NFTs across most platforms.

NFTs will be integrated into Uniswap Labs’ products starting with the Uniswap web app, wherein users will soon be able to buy and sell NFTs across all major marketplaces. Uniswap Labs will also integrate NFTs into its developer APIs and widgets, making the company’s software a comprehensive platform for end users and builders in Web3.

This isn’t Uniswap Labs’ first foray into NFTs. In Spring 2019, Uniswap Labs launched Unisocks, the first instance of NFT liquidity pools and NFTs that are backed by real world assets. Uniswap Labs sees NFTs as another format for value in the growing digital economy.

Consistent with the Web3 ethos, Uniswap Labs is sharing some of the value with long-time Genie users through a USDC airdrop. Based on a snapshot that has already been taken, the airdrop will launch in August and be claimable for up to 12 months.

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Uniswap Labs specially noted that this acquisition has no impact on the Uniswap Protocol, Uniswap Governance, or the UNI token. Genie users will continue to have uninterrupted service to the Genie website until the new Uniswap NFT experience is available.