The past few weeks have been a dark time for NFT lovers and players in the cryptocurrency industry, but for startups and executives that are dug into the vision of a crypto future, it's also been an opportunity to double down. This week, Uniswap announced that it has made a new acquisition, buying up NFT marketplace aggregator Genie for an undisclosed sum. The purchase was made by Uniswap -- the startup -- which has raised millions in funding from firms like Andreessen Horowitz and Paradigm to help build Uniswap -- the decentralized exchange protocol. Users know Uniswap as a decentralized way to swap a wide variety of tokens; this new acquisition will bring non-fungible tokens into the mix. Genie gives users the library of NFTs available across marketplaces and makes it so that they can see and trade NFTs across most of these platforms. Uniswap's team say they will be using the product to build a Uniswap NFT vertical into their platform, which will launch this fall. The compa
The sentence, “I can’t make this month’s mortgage payment, looks like I’m going to have to give up my collection of Charmin toilet paper themed digital art to the bank,” is one that seems preposterous. But you may actually hear it coming out of someone’s mouth in the near future as the non-fungible token market grows. A key factor for the massive influx of people into the NFT market is the market’s lack of restrictions. Anyone can buy or create an NFT for anything that can be digitized. However, this lack of regulations enables malicious actors to manipulate the market and defraud others. To prevent the NFT market from crashing down as fast as it has rocketed up, there needs to be regulation that establishes legal protections for ownership, levies strict punishment against criminals manipulating asset prices and restricts the ability of NFT owners to leverage their futures on assets that could become worthless in the blink of an eye. NFTs have already been used as collateral for mi