Uniswap, a decentralized exchange protocol built on the Ethereum blockchain, is making strides to gain a bigger slice of the non-fungible token (NFT) market. The platform recently announced a new feature that allows users to buy NFTs using any Ethereum-based token, such as stablecoins or meme coins.

This move is significant for NFT traders who have faced limitations when buying and selling tokens on various marketplaces. Many platforms require specific tokens to complete transactions, but Uniswap’s new Universal Router contract finds the most cost-efficient route to swap any Ethereum-based token into the required token for the NFT sale.

The integration is also a significant development for buyers who previously needed to swap one cryptocurrency for another before completing a purchase. Moving forward, Uniswap plans to support the purchase of a single NFT using multiple cryptocurrencies.

Uniswap launched its NFT marketplace in November 2021 but has struggled to gain traction in a market dominated by OpenSea and Blur. Since then, the protocol has seen fewer than 10,000 transactions, with a total volume traded of approximately $7.6 million.

However, with the new feature, Uniswap hopes to attract more users to its NFT marketplace. The platform has over 4.8 million users, but only 5,400 have participated in NFT transactions on the platform, with 16,600 total sellers.

Uniswap’s integration with OpenSea’s Seaport protocol means that buyers can complete transactions quickly and efficiently, giving Uniswap a competitive edge in the crowded NFT market. The move is expected to provide Uniswap’s NFT marketplace with more liquidity and attract more traders, leading to increased volumes and transaction counts.

In summary, Uniswap’s new feature is a welcome development for NFT traders who can now use any Ethereum-based token to buy tokens on the platform. With the integration with OpenSea’s Seaport protocol, Uniswap hopes to attract more users and gain a larger share of the NFT market.