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.

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