Batch trading NFTs with Genie 🧞
NFT marketplace aggregator Genie is now live for the public!
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
The NFT ecosystem is young, and we need more infrastructure in pretty much all directions.
That’s why one project I’m incredibly excited about, both as a proponent of NFTs and as an NFT user, is Genie.
Prior to today if you wanted to buy or sell NFTs, you basically had to do so one at a time and through a single marketplace. Genie changes all that.
Indeed, the “metaverse’s aggregator” lets you batch list NFTs and batch swap any combo of NFTs, ETH, and ERC20s across multiple NFT platforms like OpenSea, Rarible, NFTX, and beyond. The project went live for public use today, so let’s get you up to speed!
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Genie: the bazaar of NFT marketplaces
“Genie’s mission is to build the metaverse’s aggregator so that citizens can access all liquidity and information regardless of its location. Genie will deliver immutable wishes whether you’re interacting with our interface or making a voice command in a virtual world. A fragmented world needs an aggregator. The metaverse needs a Genie.” — Introducing Genie
Genie is the NFT ecosystem’s first dedicated NFT marketplace aggregator.
The project makes “sweeping the floor,” or buying multiple floor-price NFTs, possible in a single transaction across multiple platforms and with whatever tokens you want. It also supports efficiently batch listing NFTs across multiple platforms, too.
Is this the start of the socio-economic railing that will connect metagalaxies into a metaverse over time? Could be! And making these possibilities come to life in the here and now are Genie’s first flagship products: Genie Swap and Genie List.
Genie Swap explained
Genie Swap is a one-stop hub for ERC-721 trades (and soon ERC-1155 trades) across projects like OpenSea, Rarible, NFTX, NFT20, and later more as new platforms are supported, e.g. Coinbase NFT.
Importantly, Genie Swap’s efficient routing system and batch trading feature makes it easy for users to save on costs and time. The dapp has notably powered +5,550 ETH worth of volume since its beta launch back in August.
How to use Genie Swap
Here’s a Genie Swap user guide, as sourced from the Genie Discord:
Genie List explained
Genie List lets you list multiple NFTs for sale across different NFT platforms simultaneously. The product, which supports OpenSea and Rarible for now, lets you customize your offers and is ideal for NFTs that currently don’t have liquidity pools on NFTX and NFT20.
The advantage of this system? It allows users to quickly side-step the young NFT marketplace ecosystem’s fragmentation on their own terms.
How to use Genie List
Here’s a Genie List user guide, also sourced from the Genie Discord:
🧞 Additional Genie resources 🧞
What comes next for Genie?
The Genie project may prove to be a game changer for the NFT economy over time. In short, the dapp makes it considerably easier for novices and veterans alike to trade NFTs (both for small and large exchanges), and this is a big deal!
As for what comes next for Genie, the project’s team has said more marketplace integrations and ERC-1155 support are immediate priorities. Zooming out further, the project will likely eventually expand toward additional market services, e.g. NFT rentals. Keep this aggregator on your radar, then!
🧞 Check out the Genie Swap interface.
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.