Uniswap V3 Video NFT Sells for $525,000 -

Uniswap V3 Video NFT Sells for $525,000

Mar 27, 2021Jeremy ParkinsonCryptocurrency, No picture0

Key Takeaways

A tokenized version of Uniswap’s V3 video teaser has sold for $525,000. A DAO set up to buy the NFT placed the winning bid.
The video’s artist pplpleasr said that the funds would be donated to charities supporting ethnic minority groups.
Uniswap announced its highly anticipated V3 update earlier this week. It’s scheduled to launch on May 5.

Following Uniswap’s V3 announcement, an NFT of the video teaser has sold for $525,000.
Uniswap V3 Video Gets Tokenized
An NFT of Uniswap’s V3 video has fetched $525,000 in an auction.
The video’s creator pplpleasr tokenized the piece through the NFT marketplace Foundation on Thursday. The animation, titled “x*y=k,” was initially listed for 8.88 ETH on Friday.

pplpleasr has recently become known for her eye-catching DeFi-themed animations. She’s previously created videos for key projects like Aave, Sushiswap, and Yearn.Finance.
The Uniswap V3 video depicts a dreamy scene in which a unicorn finds its way to an Ethereum logo floating above a lake. It also features several curve formations and ends with a star constellation that reads “V3.”
In a video explaining the piece, pplpleasr said that the animation represents a journey towards “the Ethereum promised land.” Uniswap’s emblem is a unicorn, and the curves featured in the piece are a reference to the price curve used in Uniswap’s liquidity pools. x*y=k is the equation that determines the price of each asset in a Uniswap pool.

Bidding on the NFT heated up last night until PleasrDAO came through with the final 310 ETH bid. The DAO was set up specifically to purchase the NFT.
pplpleasr said that she was “moved beyond words” by the sale. She also said that she and Uniswap would donate the funds to charities supporting Asian Americans and Pacific Islanders and other minority groups, in line with Friday’s #StandWithAsians event.
Uniswap announced its V3 update after much anticipation earlier this week. The next iteration of the protocol is designed to give liquidity providers 4,000 times more capital efficiency, among other improvements. It’s set to launch on mainnet on May 5, with a further launch on Layer 2 solution Optimism sometime after.
Disclosure: At the time of writing, the author of this feature owned ETH and AAVE. They also had exposure to UNI, SUSHI, and YFI in a cryptocurrency index.