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 thought that the decision would help secure the future of decentralized finance, or DeFi:
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.
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.