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Uniswap interested in NFT loan segment

Decentralized exchange Uniswap is in talks to collaborate with a seven-non-fidelity token (NFT) collateralized loan protocol.

“We aim to work with each of them to solve the problem of liquidity fragmentation and information asymmetry,” said Scott Lewis, head of NFT products at Uniswap Labs.

He described this as the first step towards the financialization of the segment.

Users reacted differently to the Uniswap initiative. Some sort of The drive to expand and strengthen the DeFi ecosystem.

Others said the exchange is interested in the possibility of additional profits from the liquidation of collateral.

In the past months, Uniswap has taken steps to implement NFT into its services. In June, the company behind the exchange acquired the Genie marketplace, founded by Lewis.

“We see NFT as another value format in the growing digital economy,” Uniswap Labs said at the time.

That same month, the company announced the launch of a non-tradable token selling platform with full support for SudoSwap. The project operates as a decentralized NFT exchange, allowing the creation of liquidity pools for asset collections.

Recall that in the spring of 2019, Uniswap released Unisocks tokens in NFT format as a joke. Amid the hype in the industry, in early 2021, the price of SOCKS reached $92,500.

In May of the same year, an unidentified person traded $875,000 worth of Unisocks for nine pairs of real socks.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

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