Uniswap Labs has raised $165 million in a Series B round led by investment firm Polychain Capital. Other participating investors included a16z, Paradigm, SV Angel, and Variant. The capital will supposedly go towards building out its web app and developer tools, NFT launch, and increased support for mobile users.
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Uniswap Labs had only just recently revealed their acquisition of NFT marketplace aggregator Genie. Now, the decentralized exchange has raised $165 million in a Series B round led by crypto-focused investment firm Polychain Capital. Other participating investors included a16z, Paradigm, SV Angel, and Variant. The capital will supposedly go towards building out its web app and developer tools, NFT launch, and increased support for mobile users.
Genie is an NFT marketplace aggregator that gives users access to libraries of NFTs, available across different marketplaces, and makes it so that they can see and trade NFTs across these platforms.
Users know Uniswap as a decentralized way to swap a wide variety of tokens. The new acquisition has brought non-fungible tokens to Uniswaps’ platform – which launched this fall, 2022.
NFTs were integrated into their products, starting with the Uniswap web app, where users will soon be able to buy and sell NFTs across all major marketplaces. They also plan to integrate NFTs into their developer APIs and widgets, in the hopes of making Uniswap a more comprehensive platform for users and builders in web3.
Hayden Adams is the well-known inventor of the Uniswap Protocol and CEO at Uniswap Labs.
