Express
OpenSea Acquires Gem, Leading NFT Marketplace Aggregator
Summary: OpenSea, the largest non-fungible token (NFT) marketplace, announced it acquired Gem, the world’s leading NFT marketplace aggregator in an effort to cater toward ‘pro’ users and offer more flexibility and choice to all types of users. The New York-based marketplace, OpenSea, touted Gem for building an amazing product naming three staple features: You can buy ...
OpenSea, the largest non-fungible token (NFT) marketplace, announced it acquired Gem, the world’s leading NFT marketplace aggregator in an effort to cater toward ‘pro’ users and offer more flexibility and choice to all types of users.
The New York-based marketplace, OpenSea, touted Gem for building an amazing product naming three staple features:
-
You can buy NFTs across multiple marketplaces with a low transaction cost
-
Easy collection floor sweeping.
-
Rarity-based ranking for collections.
OpenSea noted that Gem will not change, but will operate as a stand-alone entity from OpenSea, just like it has always done. The main takeaway is that OpenSea will begin to adopt some of Gem’s features they feel are most necessary for their own users.
OpenSea also made it clear in their announcement that they do their due diligence when making monumental decisions like this one. As a result, they parted ways with a former leadership member for concerning, yet undisclosed reasons.
OpenSea is currently the largest NFT marketplace with the vast majority of their transactions taking place on the Ethereum blockchain. Earlier this month, OpenSea announced they would begin to offer NFTs on Solana through their beta program.
Author: Tyler Irvin
