Uniswap Labs Pushes Further Into NFTs With Genie Acquisition

Uniswap will airdrop USD Coin (USDC) to Genie users who used the marketplace more than once before April 15, as a part of the acquisition


Blockworks exclusive art by axel rangel


key takeaways

  • Uniswap Labs announced it has acquired NFT marketplace aggregator Genie
  • The deal will enable Uniswap to add functionality so the web app can buy and sell NFTs across major marketplaces

Uniswap Labs announced Tuesday it has acquired NFT marketplace aggregator Genie in a move that will enable the developer of the Uniswap decentralized crypto trading protocol to further incorporate NFT (non-fungible token) functionality into its product range. 

The acquisition will enable the firm to incorporate NFT marketplaces into the Uniswap’s web app and to “integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in [Web3],” the company said in a statement. 

Loading Tweet..

As a part of the acquisition, Uniswap will also airdrop USD Coin (USDC) to Genie users who used the marketplace more than once before April 15 and to those who hold a GENIE:GEM NFT, the company tweeted. The airdrop will launch in August and can be claimed for up to 12 months. 

The further expansion of Uniswap, one of the world’s most popular decentralized exchanges, into the NFT market could threaten other NFT marketplaces by enabling developers to integrate directly into a market-leading exchange. 

The company first ventured into NFTs in spring 2019 when it launched Unisocks, an NFT liquidity pool backed by real-world assets, according to the statement. 

The acquisition was made by Uniswap Labs and has no impact on the Uniswap Protocol, Uniswap Governance or the UNI token, the statement added. 

A spokesperson for the company didn’t immediately respond to a request for comment.

In May, the exchange hit more than $1 trillion worth of crypto trades since its launch in 2018. About $3.34 billion worth of cryptocurrency is currently locked inside the exchange.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Frax report cover.jpg


Frax saw continued development in its frxETH liquid staking derivative and Fraxlend money market throughout 2023. Frax V3 introduces an RWA strategy to drive utility to the protocol's cornerstone product, the FRAX stablecoin.


Heron Finance caters to US accredited investors and uses Goldfinch credit markets on the backend


Bitcoin, up more than 160% year to date, has plenty of steam left in this rally, analysts say


Nova Labs will hope to grow Helium’s hotspot network to reduce backup coverage costs paid to T-Mobile


The LinkedIn posting states that the position would “support the Federal Reserve System’s [CBDC] Research and Development program.”


Both central banks are exploring the impact a CBDC could have on an economy


Neutron core contributor Dutheil notes this is “a period of consolidation” in the Cosmos ecosystem