OpenSea Acquires NFT Aggregator Gem to Improve User Experience
The largest NFT marketplace Opensea has acquired the leading NFT aggregator service Gem.
OpenSea has “recognized a need to better serve more experienced, ‘pro’ users, and offer more flexibility and choice to people at every level of experience.” With this acquisition, the platform aims to attract a broader audience into its marketplace and more people into NFTs.
Gem creates valuable indicators via the data processed by using machine learning. An NFT aggregator collects NFT transaction information from different chains and consolidates it into a single place. The feature provides an optimized trading experience and improves efficiency.
The company’s users can save up to 42% on gas fees compared to buying directly from OpenSea or other marketplaces. It also allows purchasing multiple NFTs at once and from different platforms.
Gem will still function independently from the NFT marketplace, and OpenSea will incorporate features of the product to make NFT trading easy and enjoyable for both experienced users and the Web3 space novices.
The acquisition will allow Gem to further develop its product line and continue its roadmap. Meanwhile, OpenSea will incorporate Gem’s advanced technique and technology.
The news comes less than a week after Coinbase released its beta NFT marketplace. The second-largest crypto exchange platform will be a big competitor to OpenSea. ‘Coinbase NFT’ shared that its focus is to make NFTs accessible to everyone and ensure ease of use – it seems like OpenSea now focuses on a similar goal.
That means some bad news for users who expected a token airdrop. There are rumours that the competing marketplace aggregator genie.xyz, might launch their own token, boosted by the founders tweet, posted minutes after the announcement.
Read related posts:
- Deep Dive into NFT Marketplaces on Ethereum
- Coinbase NFT Marketplace is Finally Live: Will It Beat OpenSea?
- Solana NFT Collection ‘Okay Bears’ Breaks Record and Ranks First on OpenSea
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
