Uniswap in talks with 7 lending protocols to ‘build NFT financialization’


Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

Decentralized Uniswap is in talks with seven NFT lending protocols, in keeping with a tweet from its head of NFT product Scott Lewis.

Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

uniswap is the interface for all nft liquidity.

Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

we are actually in talks with 7 nft lending protocols. we might be working with each to resolve for liquidity fragmentation and data asymmetry. this is step one to constructing nft financialization.

Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

— Scott 🦄 (@Scott_eth) August 23, 2022

Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

In accordance with Lewis, Uniswap would work with every lending protocol to “remedy for liquidity fragmentation and data asymmetry.” He added, “this is step one to constructing NFT financialization.”

Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

Lewis didn’t reveal which lending protocols are in discussions with Uniswap.

Uniswap In Talks With 7 Lending Protocols To 'build NFT Financialization'

Neighborhood receptive to the concept

The NFT group has welcomed information of Uniswap’s rising curiosity within the scene.

There may be certainly a really critical info asymmetry, and customers want a extra concise interplay technique to take part within the liquidation and public sale of NFT property.

— Shier 🦇🔊 (@shier_eth) August 23, 2022

In accordance with Shier, the group “wants a extra concise interplay technique to take part within the liquidation and public sale of NFT property.”

Let’s chat, Scott! 🤝🔓

— Unlockd (@Unlockd_Finance) August 23, 2022

A number of NFT platforms like Unlockd_Finance, Liquid NFTs, Fuku, and others additionally expressed curiosity in taking part within the talks with Uniswap.

Uniswap and NFTs

Uniswap has proven curiosity within the NFT scene with some acquisitions and integration.

The DEX lately introduced the combination of Sudoswap, a decentralized NFT market, to its platform to permit for environment friendly NFT swaps.

We’ll be launching NFTs on Uniswap with full @sudoswap assist. Pool knowledge flowing in👇 pic.twitter.com/nsRt9Cp1Ss

— Scott 🦄 (@Scott_eth) July 22, 2022

Sudoswap already incorporates among the options of decentralized exchanges, reminiscent of swapping and automatic market maker for NFTs.

Uniswap additionally acquired Genie, an NFT market aggregator. In accordance with its announcement, its Genie buy is geared in direction of “making Uniswap a complete platform for customers and builders in web3.”

DappRadar wrote that Uniswap’s transfer into NFTs “may usher in a brand new form of NFT that doesn’t solely depend on rarity components and exclusivity however precise monetary utility.”

NFT lending beneath the highlight

NFTs lending providers have been beneath the highlight in latest weeks as fears of liquidation encompass blue-chip NFTs on BendDAO.

In accordance with accessible info, round $55 million might be wiped off the market.

📢BIP#9 has handed the quorum with 97% approval.

Thanks for the group assist!

🆕BIP#10 is proposed to regulate the implementation plan of Liquidation Threshold & Public sale Length contemplating the recommendations collected from the BendDAO discussion board.https://t.co/Op5x8kt7uJ

— BendDAO.eth (@BendDAO) August 23, 2022

In the meantime, BendDAO has handed an emergency proposal to see its collateral liquidation threshold drop to 70% from 85%. The proposal additionally shortens the public sale interval from 48 hours to four hours.

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