Uniswap Announces Integration of NFT Focused DEX, Sudoswap

Uniswap Community Votes in Favor of Uniswap Foundation
  • In June, the protocol announced that it has acquired Genie.
  • Sudoswap allows users to purchase or sell NFTs in a decentralized way.

An NFT-focused decentralized exchange (DEX), Sudoswap is now being integrated into the largest crypto DEX Uniswap. It was announced today that Uniswap would be introducing NFTs “with full Sudoswap support” in a tweet from Scott Lewis, the company’s head of NFT products. Sudoswap integration had already begun, according to a picture that accompanied the article.

For those who want to trade cryptocurrencies without authorization, Uniswap is the world’s biggest decentralized exchange (DEX). More than $6 billion in value is being held in liquidity pools spanning the Ethereum, Polygon, Arbitrum, Optimism and Celo protocols, according to data from DeFi Llama.

Bold Entry into NFT Sector

In June, the protocol announced that it has acquired Genie, a platform for the aggregation of NFT markets. Uniswap intends to allow customers to access NFTs from a variety of markets all in one location, rather than hosting NFTs on its own platform. This expansion of the product line to include NFTs has been called “no-brainer” and “a kind of value in the burgeoning digital economy” by the team behind the service.

As a decentralized exchange (DEX) for NFTs, Sudoswap allows users to purchase or sell NFTs in a decentralized way. It is also five times less expensive than OpenSea’s 2.5 percent fee rate since the platform optimizes for gas.

According to Lewis, Uniswap’s NFT integration strategy is already in motion. Even more importantly, it demonstrates a wider range of goods and services will be supported by the protocol, including NFT DEXs and more experimental offerings. NFT trading is expected to be available on the website before the end of the year, according to the team.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.