The decentralized cryptocurrency exchange Uniswap is currently in talks with seven NFT lending protocols to bring about NFT financialization.
The comments came in a tweet from Scott Lewis on Tuesday, Uniswap’s Head of NFT Product.
Unlocking liquidity
Uniswap is seeking to work with a number of NFT lending protocols to combat two major issues within the space as the AMM seeks to become the interface for all NFT liquidity.
“We are now in talks with 7 NFT lending protocols,” said Lewis in a tweet Tuesday. “We will be working with each one to solve for liquidity fragmentation and information asymmetry. This is the first step to building NFT financialization.”
NFT lending platforms allow proud JPEG owners to take out a loan against their assets, providing them with immediate liquidity while retaining their assets in the longer term.
While Lewis was keen to expound on the benefits of Uniswap’s involvement in the space, he was rather more reticent when it came to naming the specific players involved, leaving the community ample room for speculation.
Uniswap and NFTs
Uniswap has been making significant inroads into the NFT space recently, with the company acquiring NFT aggregator Genie in June. Genie allows users to search for and trade NFTs across multiple platforms with the promise of saving customers time and money.
Now Uniswap is apparently seeking to repeat the trick with NFT lending, promising deeper liquidity and better information.
As Uniswap previously stated after Genie’s acquisition, the company is seeking to integrate NFTs “into our products, starting with the Uniswap web app, where soon you’ll be able to buy and sell NFTs across all major marketplaces.”
If Uniswap can also pull off the trick with NFT liquidity it could witness the company becoming a major player in the space.
For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
