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NFTs land on decentralized exchange Uniswap



Key facts:
  • OpenSea, LooksRare and Sudoswap are part of the marketplaces supported by Uniswap.

  • Uniswap promises savings of up to 15% on gas rates on its NFT aggregator.

Decentralized bitcoin (BTC) and cryptocurrency exchange Uniswap announced Wednesday that non-fungible token (NFT) trading is now enabled on its platform, directly with major marketplaces in the market.

In a press releaseThe company pointed out that from Wednesday, November 30, users will be able to rely on Uniswap to find the best collections and deals for collectible tokens.

To this end, the company has developed an aggregator of NFTthrough which they aim to “offer the best prices, faster indexing, more secure smart contracts, and efficient execution.”

Uniswap states that the aggregator will support major NFT markets, such as. OpenSea, LooksRare, Sudoswap, X2Y2, Larva Labs, NFT20, NFTX, and Foundation.

They also point out that there will be a savings of up to 15 percent on gas fees (Ethereum network transaction fees), compared to other NFT aggregators in the market. The company promises to save “tens of thousands of gas units.”

Uniswap said it adheres to its principles of decentralization, demanding transparency and open source. “We applied the same design principles to NFTs and opened up all our code,” the company said.

According to Uniswap, NFTs and ERC-20 tokens (inherent in decentralized platforms) have long existed as separate ecosystems. Here’s why, are betting on their union, building “more interoperable experiences” between the two assets.

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