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

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

In accordance with Lewis, Uniswap would work with every lending protocol to “clear up 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.

Neighborhood receptive to the concept

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

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

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 just lately introduced the combination of Sudoswap, a decentralized NFT market, to its platform to permit for environment friendly NFT swaps.

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

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

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

NFT lending beneath the highlight

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

In accordance with out there data, round $55 million may very well be wiped off the market.

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.

Supply: CryptoSale

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