On November 30, Uniswap officially announced the launch of its NFT marketplace, marking a significant event in the gradual convergence of the DeFi and NFT sectors.
Here we provide a thread analysis covering the following aspects: – Preliminary milestones and background of the event – Analysis of Uniswap’s NFT trading features – Airdrop to historical Genie users – Reasons behind Uniswap Labs’ strategic moves – Impact and outlook for the future development of NFT and DeFi Official Uniswap announcement: https://uniswap.org/blog/uniswap-nft-aggregator-announcement Preliminary milestones and background of the event On June 21, Uniswap announced the acquisition of NFT market aggregator Genie. On July 22, Uniswap announced that its upcoming NFT trading platform would integrate Sudoswap. Analysis of Uniswap’s NFT trading features The NFT trading entry point is not located on the official website homepage. Instead, it is presented through the same web app interface, and users are defaulted to the Swap interface before entering the NFT trading interface. Uniswap NFT has fully replaced Genie. If users visit the Genie website, they are automatically redirected to the Uniswap NFT interface. The main interface of Uniswap NFT is highly minimalist. Apart from the slogan “Better Prices. More Listings.”, there are only two sections. The first is the Trending NFT Collections ranking, which defaults to trading volume ranking. The second is a comparison of floor prices for some NFT Collections across different platforms in the upper-right corner. (Sudoswap floor prices are included by default in Uniswap NFT quotes.) Within each individual NFT Collection page, the functions and user experience are almost identical to those of the Genie platform. However, it still lacks what has become the most important feature of modern NFT aggregators: trading-related data analytics panels. (It is recommended that users compare this with the relevant features provided by Blur, Gem, and Element platforms.)Important information from the official Uniswap announcement: At launch, Uniswap will support OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX. (Blur and Element are not supported.) When trading across markets, it can save up to 15% on gas costs compared to other NFT aggregation trading platforms. Actual trading experience: The NFT purchase and Sweep functions are consistent with Genie, with no new user experience optimizations. However, when I tried the Listing function, I encountered a ‘listing failure’ situation that I had never experienced on other platforms. Although the second attempt was successful. Genie historical user airdrop The total airdrop amount is 5 million USDC, with the snapshot time set to April 15, 2022 at 00:00 UTC. Users who meet the following requirements at this time can receive corresponding tier airdrop rewards. – Wallets that used Genie twice before the snapshot time can receive a reward of 300 USDC. – Wallets holding the Genie: Genesis NFT at the time of the snapshot can receive a reward of 1000 USDC. To claim, after connecting your wallet on the https://app.uniswap.org/ webpage, click on the wallet section in the upper right corner. If the airdrop claim button shown in Figure 2 appears, you can claim the airdrop. Reasons for Uniswap Labs’ layout – DEX user growth is weak, and there is a desire to convert more NFT users into on-chain DeFi users. – As the largest user traffic gateway in DeFi, Uniswap, combined with Sudoswap and transaction aggregation functions, theoretically has the ability to compete directly with OpenSea. – As a software development company, Uniswap Labs cannot obtain additional cash flow revenue from the operation of the Uniswap Protocol. The strong cash flow revenue model represented by OpenSea in the NFT field is highly attractive to the Uniswap Labs team.
Regarding the future impact and prospects of NFT and DeFi development:
NFTs are inherently easier for users to understand and have a lower entry barrier, making the NFT space the most direct gateway for the Web3 industry to attract new users. DeFi, as a financial investment sector with higher barriers, faces great difficulty in directly attracting external users. NFT players who are already proficient in wallet usage and on-chain interactions are the most direct target growth group for the DeFi industry. The poor liquidity of NFTs has always been a criticized issue, but personally, I believe this is a characteristic of the current stage—only a state, not an unsolvable problem. Therefore, the NFT liquidity market (trading and NFTfi) still holds enormous growth potential in the future, and early positioning is a very wise strategic move. The competition in the NFT trading track is extremely intense: OpenSea holds the largest market share and continues to expand across multiple chains; Blur grows steadily with a better professional trading experience; Element has a clear user lead on BNBChain; Sudoswap is highly efficient in its liquidity mechanism. The final competitive outcome remains unknown—let us wait and see. Disclaimer: This article only represents the author’s personal views and opinions, and does not represent the views or positions of this website. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades. The author and this website shall not bear any liability for direct or indirect losses arising from investors’ transactions. Disclaimer: This article is solely for providing market information. All content and opinions are for reference only and do not constitute investment advice, nor do they represent the views or positions of this website. Investors should make their own decisions and trades. The author and this website shall not bear any liability for direct or indirect losses arising from investors’ transactions.
