Uniswap Labs Buying ETH NFT Aggregator Genie

The NFT aggregation platform Genie is being purchased by Uniswap Labs, the organization that runs the decentralized exchange Uniswap, which operates on Ethereum.

In a Bankless interview on Tuesday, Uniswap founder and CEO Hayden Adams said, “We’re trying to bring everything we brought to the ERC-20 market to the NFT space.”

You can buy NFTs—individual blockchain tokens that represent ownership—on a variety of different marketplaces, such as OpenSea, LooksRare, or Coinbase NFT. However, few allow consumers to buy many things at once, and none provide aggregation tools that let traders view listings on competing marketplaces.

Genie provides all.

“We see NFTs as another form of value in the growing digital economy, and it’s a no-brainer for us to integrate them,” Uniswap Labs wrote on Twitter.

Just two months ago, OpenSea said it was purchasing the NFT aggregator Gem, which also enables users to acquire several NFTs in a single transaction. Now, OpenSea has announced it is purchasing Genie. OpenSea intends to incorporate NFT aggregation functions into its primary platform, very much like Uniswap.

A new tab dedicated to NFTs will be added to Uniswap’s main website later this year as part of the company’s push into NFTs, according to a statement from the company. Additionally, NFTs will be included in its developers’ APIs and widgets.

Uniswap Labs intends to airdrop an unspecified quantity of the stablecoin USDC to Genie’s early backers as a way to commemorate its acquisition. By April 15th, those who had utilized the platform at least once or possessed a Genie Genesis NFT would have received USDC.