Published December 15, 2022
Uniswap recently declared that its decentralized exchange (DEX) will now be able to handle trading non-fungible tokens (NFTs). They noted that the initial list of NFT collections available for purchase on the protocol would include OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX. The developers at Uniswap highlighted that compared to other NFT aggregators, users could save up to 15% in gas costs when using Uniswap's NFT feature, which integrates ERC-20 and NFT swapping into one router. Additionally, with Permit2 integration, users can make several token and NFT swaps simultaneously while keeping their gas expenses low. Discussed below are the reasons why we think this could be a game changer.
Decentralized Nature
One of the key advantages of the marketplace is its decentralized nature. Unlike centralized NFT marketplaces, which are controlled by a single entity, Uniswap's marketplace is built on the Ethereum blockchain, making it completely decentralized and open to all. This means that there is no central point of control or failure, and transactions are trustless and transparent. Built-in liquidity
Another major advantage of Uniswap's NFT marketplace is its liquidity. As a DEX, Uniswap has a built-in liquidity pool that allows for seamless trading of NFTs. This is in contrast to traditional NFT marketplaces, which can suffer from low liquidity, leading to slow transaction times and high spreads. With Uniswap's NFT marketplace, users can expect fast, efficient trades with minimal slippage.
Easy Access for Creators
Uniswap's NFT marketplace is also more accessible, especially for creators. The platform offer easy ways for creators and artists to mint and list their own NFTs, without having to go through a centralized intermediary. Additionally, Uniswap also enables creators and artists to collect royalties for their work, and allows holders of the NFTs to enjoy benefits such as early access to new works, exclusive merchandise, and more.
User-friendly Experience for Buyers
Uniswap's NFT marketplace also offers a great user experience for buyers, as well. The platform allows for the discovery of new and exciting NFTs across a wide range of creators. Unlike an individual NFT marketplace, the Uniswap aggregator allows users to view NFT listings from OpenSea, LooksRare, NFTX, and others all at once.
Final Words: Decentralization will lead the way!
Uniswap's NFT marketplace is a game changer in the world of NFTs, thanks to its decentralized nature, built-in liquidity, easy access for creators, and user-friendly experience for buyers. It is a promising development for the world of digital art, digital collectibles, and other forms of digital ownership.
