Hassan Maishera
The Uniswap team announced via a blog post on Wednesday that its users can purchase NFTs on Uniswap with any ERC20 token, and sellers will still receive their listing token. This feature was rolled out thanks to Uniswap’s new Universal Router contract, which, for the first time, unifies token and NFT trades into a flexible and gas-optimized swap router. Universal Router finds the most cost-efficient route to trade a user’s inputted ERC20 token for the purchase token, such as ETH, then settles the trade through Opensea's Seaport -- a marketplace protocol for swapping ERC721s and ERC1155s. Uniswap said its next update would support purchasing NFTs with multiple input tokens.
Uniswap is a decentralized exchange protocol built on Ethereum. To be more precise, it is an automated liquidity protocol. There is no order book or any centralized party required to make trades. UNI, the native token of Uniswap, is currently trading at $7.036, up by less than 1% in the last 24 hours.
