Most recently, Sharky acquired UGS Labs. The news was met with enthusiasm from the NFT community, with both Sharky and UGS Labs known for their innovative products and services.
@UGS_Labs UGS Labs is acquired @SharkyFi Paving the way for exciting developments #solana NFTs https://t.co/ANxEp9gj5u
— Kyptos (@azcoinnews) April 16, 2023
Sharky is a platform that provides liquidity for pools on an order book. The platform allows NFT holders to borrow instantly using NFTs as collateral. UGS Labs, on the other hand, is a team focused on building products and services to solve big problems that limit the potential of Solana NFTs and the wider ecosystem.
The acquisition is expected to bring together the strengths of both companies to create a seamless user experience. Product integration is expected in the near future, while collections and communities will remain separate for the time being.
UGS Labs has a strong brand and community and has proven their ability to develop and deliver quality products. The teams at Underground Society and Sharx have big plans, and this acquisition promises to pave the way for exciting new developments in the NFT space.
According to the UGS Labs team, they are building bridges between Brands and Utility, DeFi and NFTs, and Solana and other blockchains. The underground social ecosystem is known for its deep traditions, sense of community, and desire to bring value to its members.
Details of the acquisition are expected to be announced on Monday. The NFT community eagerly awaits more information on what this partnership will bring and how it will impact the future of NFTs and blockchain technology.
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according to Kyptos