The leading NFT marketplace, OpenSea has just acquired NFT aggregator Gem in order to offer users more options. The move is all part of their effort towards providing the “pro” user experience.
OpenSea is one of the world’s first and largest marketplace for trading NFTs or digital artworks. The platform has received $20 billion worth of sales since its inception in 2017, with over 1 million traders. In January 2022 they acquired a cryptocurrency borrowing/lending and digital wallet service app called ‘Dharma labs’. The acquisition is to improve buying, selling, and minting NFTs experience.
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Gem Acquisition Outcomes
In an announcement on 25th April, OpenSea said that the acquisition of Gem will allow them to better facilitate the vision and road map. As NFT communities grow, so does their need for an improved user experience which is why this deal was completed with such seamless integration into our platform.
According to the announcement by OpenSea, Gem will carry forward its services from the platform of OpenSea as a stand-alone product and brand. The primary purpose of Gem is to bring the latest features to OpenSea and enable both teams to get knowledge about the advanced non-fungible token circles. However, OpenSea did not provide any financial detail about the acquisition in the announcement.
OpenSea explains;
We’re excited to invest in Gem’s roadmap and ultimately welcome more people into the world of NFTs. However, our community needs to know that when we consider a big decision like the one we’re announcing today, we evaluate all aspects of it thoroughly.
An Overview Of Gem
Gem is famous for being the best NFT aggregator market holder providing facilities to customers for buying NFT in bulk through various sources. As per Gem, OpenSea suddenly offered for acquisition, and the action could undoubtedly speed up both future growth and developments.
The current acquisition would enhance Gem’s approach to the assets, base, and distribution channels of OpenSea.
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The aggregator platform prepares for future technological developments and expects a decentralized and bright future for the internet. The principal mission of Gem in the current acquisition is to develop a single connection for the customers to get data and deal with all the required NFT products and marketspace. It seems that Gem is very excited regarding the acquisition developments and highlighted expressions in a Tweet.
We’re incredibly honored to be pioneering the NFT aggregator space with our amazing community of NFT enthusiasts, collectors, and sweepers – and look forward to keeping improving your experience.
Featured Image from Pixabay and Chart from Tradingview.com