The platform allows NFT collectors to swap NFTs (ERC721s) in a trustless, gas-efficient, and fully on-chain manner. The creator describes his novel AMM as a "capital efficient protocol for NFT liquidity" and many have labelled it the UniSwap (V3) of NFTs.
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What is Sudoswap?
Sudoswap or the 'SudoAMM' is a new NFT marketplace that changes the way crypto users think about NFT liquiditiy and trading. It introduces the 'Automated Market Maker' (AMM) model to NFTs and enables users to do the following:
- Create pools that gradually buy or sell NFT collections along price curves.
- Provide liquidity to investment pools that buy and sell NFTs to earn revenue.
- List NFTs on the Marketplace at set prices.
Sudoswap NFT Marketplace Growth
The Sudoswap NFT Marketplace has boomed in daily volume since its release in late July 2022. At time of writing, Sudoswap is currently trading over 800 ETH in volume with no incentive program or rewards to incentivise users.
This growth highlights that Sudoswap has potential product-market fit and could be a critical piece of infrastructure for the NFT sector. You can track the Sudoswap data on Dune Analytics.
Who founded Sudoswap?
The founder of Sudoswap is an anonymous developer that is widely regarded in the crypto community for his AI-generatedNFT collection called 0Xmons.
You can find the Sudoswap founder's Twitter profile here.
Does Sudoswap have a token?
Yes, Sudoswap has a governance token named after the founder called XMON (XMON). You can see the live price of XMON in US Dollars below.
What is next for Sudoswap?
According to an official tweet, Sudoswap will be releasing support for ERC1155 tokens, ERC20 tokens and building more novel bonding curves for NFT AMM management.