Uniswap Eyes NFT-Lending Segment

The decentralised exchange Uniswap is in talks to collaborate with seven lending protocols for collateralised non-fungible tokens (NFT).

uniswap is the interface for all nft liquidity.

we are now in talks with 7 nft lending protocols. we will be working with each one to solve for liquidity fragmentation and information asymmetry. this is the first step to building nft financialization.

— Scott 🦄 (@Scott_eth) August 23, 2022

\”We intend to work with each of them to address liquidity fragmentation and information asymmetry,\” said Scott Lewis, head of NFT products at Uniswap Labs.

He called it the first step toward the financialisation of the segment.

Users reacted in mixed fashion to Uniswap’s initiative. Some considered it a move to broaden and strengthen the DeFi ecosystem.

Others said the exchange was seeking the potential to earn additional profits from liquidations of collateral.

any other motive to provide this feature than profit from liquidations? or be kind to buy the lenders worthless asset at liq price and baghold it while you try and dump on yourself?

— PilotGFX (@PilotGFX) August 23, 2022

In the past few months, Uniswap has taken steps to incorporate NFT into its services. In June, the company behind the exchange acquired the Genie marketplace, founded by Lewis.

\”We view NFTs as another form of value in the growing digital economy,\” Uniswap Labs said at the time.

In the same month, the company announced the launch of an NFT sales platform with full SudoSwap support. The project operates as a decentralised NFT exchange, enabling the creation of liquidity pools for asset collections.

We’ll be launching NFTs on Uniswap with full @sudoswap support. Pool data flowing in👇 pic.twitter.com/nsRt9Cp1Ss

— Scott 🦄 (@Scott_eth) July 22, 2022

In spring 2019, Uniswap released Unisocks as a joke in the form of NFTs. Amid the hype around the sector in early 2021, the price of SOCKS reached $92 500.

In May of the same year, an unknown exchanged Unisocks worth $875 000 for nine pairs of real socks.

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