Uniswap To Purchase Nft Marketplace Aggregator Genie For An Upgrade

With the massive crash in the crypto world, it’s been quite challenging for investors and NFT lovers considering the huge losses they have constantly faced for the past few weeks. But where there were some major drawbacks to this stage, there were also some opportunities that could be taken hold of to double the gains. However, these prospects were primarily seen by individuals who focused on the positive outcomes that could come from the downfall.

The decentralized exchange protocol, Uniswap, announced an announcement about a new acquisition earlier this week. For a sum that hasn’t been disclosed yet, the company is purchasing the NFT marketplace aggregator Genie, which has also got funded by significant companies like Paradigm and Andreessen Horowitz. This was a massive help in building Uniswap because the funding that was raised counted up to millions.

Uniswap is mostly known as a decentralized option to exchange multiple tokens, but through this acquisition and merge of Genie, non-fungible tokens can also be introduced to this mix.

The primary purpose of Genie is to make the NFT marketplace available for its users so that they can access the main market of NFTs and efficiently sell, buy and trade NFTs across the application.

Uniswap recently announced that a product will be launching this fall to build the NFT vertical for the company