The future of the digital art space looks bright as it gets another support when NFTs Group reveals the first NFT transaction on Uniswap (UNI)
NFTs And Uniswap
Non-fungible tokens (NFTs) are now available for trading on the decentralized exchange (DEX) Uniswap (UNI). The users of Uniswap will now be able to sell or buy NFTs in a fully decentralized way for USDT. NFT owners or bidding purchasers have to use an NFT marketplace to buy or sell NFTs, just like Nifty Gateway.
Centralized organizations, which censor the types of NFT that can appear in the marketplaces, manage the marketplaces well.
NFT more Popular Than Blockchain
NFTs are at the height of their popularity. BeInCrypto reported that Google searches for “NFT” overtook searches for both “cryptocurrency” and “blockchain” in number, last week.
Indeed, those searches were consistently growing during the whole February. The searches for NFT were even outnumbering those for “DeFi” in the beginning of February.
The world-famous auction house Christie’s have auctioned a 5,000-strong collection of NFTs curated over 13 years for more than $69 million. The figure breaks records as the most significant amount paid of NFT-art in the space. Christie’s is now being followed by other auction houses from the traditional art space.
Sotheby’s revealed its plans to host an NFT sale with works from anonymous digital artist Pak. Sotheby’s Charles Stewart, the Chief Executive Officer, claimed in an interview with CNBC:
“It’s still very early with crypto art in general, but there’s a lot here that’s really exciting and we think has staying power.”
Will NFT be the future?
It is easy to suggest that the NFT-art space might be here to stay.
The entry of established players into the art world brings potentially seasoned art enthusiasts into the space. It also gives the space some credibility.
Decentralization is everything in the decentralized finance (DeFi) world. Thanks to the work by NFTs Group to bring NFTs to Uniswap, DeFi enthusiasts may now be on the hook to become NFT owners.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.