NFTs no longer priced in ETH! Uniswap supports purchasing NFTs with any ERC20 token

The leading decentralized exchange Uniswap launched its NFT marketplace in December last year. Yesterday, on the 22nd, it introduced a feature that allows users to purchase NFTs with any ERC20 tokens, eliminating the hassle of token conversion for users and potential losses.

NFTs No Longer Priced in ETH

According to an announcement by Uniswap, although NFTs have traditionally been priced in ETH, this has caused some inconveniences for users, including:

• Not everyone has enough ETH in their wallets, and converting other ERC20 tokens to ETH/wETH just to purchase NFTs is an unnecessary step.
• It is challenging to accurately calculate the amount of ETH needed for purchasing NFTs and paying gas fees, often resulting in small leftover amounts of ETH.

To address these pain points, Uniswap has introduced a new universal router contract that integrates token and NFT trading into a flexible and gas-optimized exchange router, allowing users to purchase NFTs using any ERC20 token.

How to Purchase NFTs with Uniswap ERC20 Tokens

After selecting the desired NFT on Uniswap, users can choose the payment method in the shopping cart, as highlighted in red, and proceed to pay using ERC20 tokens held in their wallets.

In version 1, users can only select one token for payment, but Uniswap has stated that they will support multi-token payments in the future.

In other words, currently users can purchase two Open Edition NFTs in the example below for approximately 410 DAI, but in future updates, they will be able to purchase two Open Edition NFTs for 210 DAI plus 0.124 ETH.