1. QiAi QuestsHome
  2. Daily Digest

Uniswap now supports the use of other ERC-20 Tokens to purchase NFTs

• Daily Digest • 89 views

According to reports, according to official news, Uniswap announced that its NFT market has supported users to use ERC-20 Token other than ETH to purchase NFT….

Uniswap now supports the use of other ERC-20 Tokens to purchase NFTs

According to reports, according to official news, Uniswap announced that its NFT market has supported users to use ERC-20 Token other than ETH to purchase NFT.

Uniswap announced that it has supported users to purchase NFT using ERC-20 Token other than ETH

Interpretation of the news:


Uniswap, one of the largest decentralized exchanges (DEX) in the market, announced that their non-fungible token (NFT) market now supports the use of ERC-20 Tokens other than ETH as a means of purchasing NFTs. This update was announced officially by Uniswap, creating more options for users to transact on their platform.

This move shows that Uniswap is committed to providing flexibility and options to its users, who often have a diverse portfolio of cryptocurrencies. While ETH has traditionally been the most popular form of payment for NFTs, the increasing popularity of ERC-20 Tokens has resulted in this market shift. ERC-20 Tokens are built on the Ethereum blockchain and are used to represent a wide range of assets, including stablecoins and cryptocurrencies, used for daily transactions.

Uniswap’s decision to support other ERC-20 Tokens will usher in more shift towards decentralization, empowering users to use a wider range of tokens to make NFT purchases. These include the most traded tokens like USDT, WBTC, and DAI. By using ERC-20 tokens, users will significantly reduce their transaction fees, which is a major advantage of this market development. The platform’s users can benefit fully from the amount of liquidity that’s provided by ERC-20 tokens.

Additionally, with the increased use of ERC-20 Tokens, purchasing NFTs will be much easier to do without the sometimes cumbersome, multiple-step process of exchanging fiat currencies to ETH. Such is an added bonus for users, who can now make use of any token that has the required liquidity for NFT purchases.

Overall, the move by Uniswap to support the use of ERC-20 tokens for NFT purchases is a significant step towards decentralization, offering users a more streamlined and cost-effective way to buy and sell their digital assets. The shift towards using other ERC-20 Tokens has been widely anticipated, and Uniswap has made a bold move to support this market development.

In conclusion, this decision will go a long way in providing more options and flexibility to users, driving the growth of the NFT market, which is poised to grow in a big way in the coming years.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/2549.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/22/2023 14:27
Next 02/22/2023 14:40

Related recommendations