OpenSea, the world’s largest non-fungible token (NFT) marketplace, has announced the acquisition of NFT aggregator Gem.xyz (Gem) in order to invest in its “Pro” experience. Gem.xyz is an NFT aggregator that allows users to buy and sell NFTs across several marketplaces, making it easier to purchase NFTs at reduced prices.
OpenSeas objective is to make the power and promise of NFTs more accessible to individuals all over the world. As the NFT community grows, they have seen a need to better serve more experienced, “pro” users, as well as to provide greater freedom and choice to people of all skill levels.
Gem is noted for its quick collection floor sweeping and rarity-based collection ranking. It allows you to buy NFTs across different marketplaces in a single, low-cost transaction. The acquisition of Gem would allow OpenSea to “learn from Gem’s knowledge and intuition regarding the advanced NFT community,” as per the post.
Despite the fact that the takeover offer was “unexpected,” Gem claims that it will benefit from OpenSea’s infrastructure and resources in order to accelerate its expansion. Gem will continue to exist as a separate entity. The Gem you’re used to won’t change, and they will gradually introduce essential Gem features to OpenSea to make buying NFTs simple and enjoyable for everyone.
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