It’s a Gem: OpenSea Acquires Leading NFT Aggregator Platform

Written By Simon Mwebaze

To stay relevant as an NFT marketplace, you must improve your customer offering often. Upgrades may include adding social media features, multi-chain capability, and lower gas fees.

OpenSea, the NFT marketplace leader, is staying ahead of the game by acquiring Gem. With close to 35,000 customers and a trading volume of over $500 million in the last month alone, it is one of the leading NFT aggregator platforms.

What is an NFT aggregator platform? It’s a platform that makes it easier and cheaper to browse several marketplaces and access analytics. Being able to do this allows users to make the best value-for-money NFT purchase decisions.

OpenSea is already the single largest gas fees generator averaging $500 per transaction. Gem brings a single, low-cost transaction and rarity-based rankings for NFT collections. These features make it a popular choice for NFT traders looking for floor sweeps.

Acquiring Gem allows OpenSea to better meet the needs of its more experienced, “pro” users

Gem also benefits from the acquisition. They gain access to resources to propel their product vision and roadmap.

Sounds like a win-win?

We will keep our eyes peeled on developments from this acquisition.

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