Uniswap Is Considering NFT Financing and Is Talking With Lending Protocols!

According to a tweet from the exchange's head of NFT product, the exchange is in contact with several NFT lending protocols in order to build NFT financialization.

According to a social media post by Uniswap's head of NFT product Scott Lewis, the crypto exchange is in talks with multiple nonfungible token (NFT) lending protocols.

Lewis emphasizes the company's interest in addressing both liquidity issues and the "information asymmetry" surrounding NFTs in the tweet.

While Uniswap's goal for these discussions and potential collaborations with lending protocols is NFT financialization, the crowd on Twitter had a mixed reaction.

Some users saw the decision as a step toward securing the future of decentralized finance, abbreviated as DeFi.

Other users questioned Uniswap's interest in NFT financialization, pointing to the possibility of profiting from liquidation.

Uniswap has taken significant steps in recent months to incorporate NFT activity into its service offerings.

Uniswap is one of the world's largest decentralized exchanges (DEXs), with nearly $6 billion in liquidity pools.

Genie, an NFT marketplace aggregation platform that allows users to find and trade digital assets across most platforms, was acquired by the company in June.

Lewis then tweeted that Uniswap intends to launch NFTs with full Sudoswap support.

Sudosawp enables anonymous interactions with regard to NFT sales and the establishment of NFT liquidity pools.

This is not the company's first foray into the NFT space, as they launched Unisocks, the first rendition of NFT liquidity pools, in 2019.

This latest push for NFT activity, however, comes as these digital assets gain traction and utility both inside and outside of the DeFi space.

These tokenized digital assets are being used by industries ranging from real estate contracts and digital fashion to collectibles and music rights monetization.

Similar platforms, such as OpenSea, MagicEden, and even eBay, are charging headlong into the Wild West of NFTs.

According to DappRadar's Q2 industry report, an NFT platform battle could be on the horizon.

Comments

Inflation is anticipated to have an impact on fuel demand, which is contributing to a decline in the price of oil.

On Tuesday, oil prices declined, erasing some of the gains made in the previous trading session. This was due to market participants' concerns that more aggressive interest rate hikes from central banks could result in a worldwide economic slowdown and a reduction in the demand for fuel. After gaining 4.1% on Monday, the largest gain in more than a month, Brent crude futures LCOc1 for October settlement dropped 81 cents, or 0.7%, to $104.28 a barrel as of 03:59 GMT on Tuesday. This coming Wednesday marks the end of the October contract, while the more active November contract was trading at $102.33, a decrease of 0.6%. Following a surge of 4.2% in the previous session, the price of U.S. West Texas Intermediate crude CLc1 was reported to be $96.68 per barrel, a decrease of 33 cents, or 0.3%. Inflation is close to reaching double digits in many of the world's largest economies, a level that has not been seen in almost half a century. This could prompt central banks in the United ...

Google Gets In On Ethereum Merge Excitement With Nifty Easter Egg

The new feature has been added with just days left until the long-awaited Ethereum Merge. As a sign of support for the upcoming Ethereum Merge, tech juggernaut Google is marking the time left until the upgrade with a new countdown timer. Typing any variation of “Ethereum Merge” or “The Merge” into the search engine shows a countdown ticker, with the estimated time left until the Merge based on the current difficulty, hash rate and merge difficulty. Off to the side is a cartoon of two happy pandas running toward each other with outstretched hands, which supposedly will get closer as the Merge date draws nearer. In a Friday tweet, Google Cloud developer Sam Padilla said that the timer was “a fun little surprise” and a way to show their appreciation of “the work that has been going into this for years.” He said the work was done by Google’s search and labs team but noted that he helped “ kickstart ” the idea and discussion that led to the timer being implemented. In the same ...

Discovering the World's Most Exquisite Natural Sceneries

In our pursuit of uncovering Earth's most mesmerizing natural landscapes, we've embarked on a global journey, seeking out unspoiled and awe-inspiring wonders of nature. The following expedition will guide you through an enchanting tour of the world's most stunning natural sceneries, each more captivating than the last. From luxuriant forests to dramatic cliffs and tranquil beaches, this serves as the ultimate handbook for immersing yourself in the beauty of nature. If you've ever wondered how to save money for a vacation while exploring the Most Beautiful Natural Landscapes, we've got you covered with practical tips and guidance to turn your dream vacation into a reality. The Enthralling Beauty of the Amazon Rainforest The Amazon Rainforest, often dubbed as the "Lungs of the Earth," stands as an unparalleled natural marvel. Spanning across South America, this lush and vibrant forest is home to an astounding variety of wildlife and plant species. The sheer ...

EconomyDiary

Search This Blog