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


NFT


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

uniswap is the interface for all nft liquidity.

we at the moment are in talks with 7 nft lending protocols. we will probably be working with each to unravel for liquidity fragmentation and knowledge asymmetry. this is step one to constructing nft financialization.

— Scott 🦄 (@Scott_eth) August 23, 2022

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

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

Group receptive to the concept

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

There’s certainly a really severe info asymmetry, and customers want a extra concise interplay technique to take part within the liquidation and public sale of NFT belongings.

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

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

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 help. Pool information flowing in👇 pic.twitter.com/nsRt9Cp1Ss

— Scott 🦄 (@Scott_eth) July 22, 2022

Sudoswap already incorporates a few of the options of decentralized exchanges, corresponding to swapping and automatic market maker for NFTs.

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

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

NFT lending underneath the highlight

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

In keeping with out there info, round $55 million could possibly be wiped off the market.

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

Thanks for the neighborhood help!

🆕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 4 hours.


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