Uniswap Labs acquires NFT marketplace Genie and announces an airdrop

The company behind the eponymous DEX, Uniswap Labs, announced the acquisition of the NFT marketplace aggregator Genie.

1/ The Uniswap Universe is expanding 🦄

In pursuit of our mission to unlock universal ownership and exchange, we’re excited to share that we’ve acquired @geniexyz — the first NFT marketplace aggregator — expanding our products to include both ERC-20s and NFTs 🧞‍♂️ pic.twitter.com/vESlbE3kvy

— Uniswap Labs 🦄 (@Uniswap) June 21, 2022

“NFT will be integrated into our products, starting with the Uniswap web app, where you will soon be able to buy and sell non-fungible tokens on all major marketplaces. We will also integrate NFTs into our APIs for developers and widgets,” the blog post said.

Support for the new options is planned this autumn.

“We view NFT as another form of value in the growing digital economy,” the developers emphasised.

According to them, non-fungible tokens are a kind of gateway to Web3.

Genie users will have access to the marketplace ahead of the NFT exchange’s full integration.

As part of the deal, Uniswap will conduct in August an airdrop of the stablecoin USDC among Genie users who had used the platform more than once before April 15, and among holders of the GENIE:GEM NFT.

The leading exchange has long experimented with NFTs: back in spring 2019, Uniswap released Unisocks as a joke. Against the hype around the segment in early 2021, the SOCKS price reached $92,500. In May of the same year, an unknown traded Unisocks worth $875,000 for nine pairs of socks.

Since its launch in 2018, the trading volume on Uniswap has surpassed $1 trillion.

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