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HomeDeFiUniswap unveils first step of their plan to bring NFT financialization

Uniswap unveils first step of their plan to bring NFT financialization

On August 23, Scott Lewis, Uniswap’s Head of NFT product, announced via tweet that Uniswap is in talk with seven other NFT lending protocols to bring NFT financialization.

Moreover, Uniswap is trying to work with seven other NFT lending protocols to solve two significant issues in the NFT space as the AMM tries to become the connection point for all NFT liquidity.

Lewis said in the tweet, “we will be working with each of the seven NFT lending protocols to solve the issues such as information asymmetry and liquidity fragmentation. This is the first step in building NFT financialization.”

NFT lending platforms permit JPEG owners to apply for the loan against their assets, giving them quick liquidity while holding their assets for a longer term.

On one hand, where Lewis was quick to explain the advantages of Uniswap’s involvement in space, he was somewhat more hesitant when it came to naming the particular players involved, leaving the community adequate space for speculation.

Recently, Uniswap has been making huge advancements in the NFT space by acquiring NFT aggregator Genie in June. Genie permits users to look for and trade NFTs across numerous platforms with the commitment of saving users money and time.

Currently, Uniswap is clearly trying to rehash the trick with NFT lending, promising great liquidity and better information.

After acquiring Genie, Uniswap stated that the organization is looking to incorporate NFTs “into our products such as Uniswap web app, where the users can buy and sell NFTs across all the major marketplaces.”

However, Uniswap can turn into a major player in NFT space, if the organization can pull off the trick with NFT liquidity.

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