The open trading of the Non-fungible Tokens (NFTs) is now easily accessible on the platform of the famous decentralized exchange Uniswap. This news dropped just as the NFTs Group (the NFT development company) announced earlier today that the USDT-NFT pool had been launched on the Decentralized Exchange, UNI.
Users on Uniswap will now be able to buy or sell their NFTs in a more decentralized manner using the USDT token. Very soon, there will be more options for stablecoins and cryptocurrency.
In the traditional market, every bid winner and owner of NFTs have engaged the use of the NFT marketplace like the Christie’s Auction House and Nifty Gateway to make trades with the NFTs. These marketplaces mentioned earlier are managed and operated by centralized organizations. Most often, the organization would have censored the types of NFT that can be channeled through their space.
This wonderful move is also a novel one for Uniswap, and it comes at the right time where the use of the exchange is rising so rapidly.
NFT Getting More Known than Blockchain
Currently, the Non-fungible token is at the epicenter of its fame. The search of NFT on Google has risen more than that of Blockchain and even cryptocurrency in number.
Indeed, the volume of the searches is increasing consistently all through February to the extent that those searches around the Decentralized Finance were outnumbered in the first few weeks of February.
In just a week, Christie’s – the famous auction house in the world – has auctioned a 5000 collection of NFTs that has been curated for about 13 years. The buyer won the auction with $69 million – the highest that was paid for an NFT art.
A Future Filled with NFTs?
Following the recent trends, it is safe and easy to say that the NFT-art market has come to stay. The number of developments listed above is the perfect description of companies setting up the infrastructure of the space.
The entrance of more known players in the art space will not only draw art enthusiasts but will give a level of credibility to space which is very integral to sustainability and longevity. But much more in the DeFi space, everything has to be decentralized. With the recent effort to set up NFTs on Uniswap, DeFi enthusiasts will be lured to own NFT too.