OpenSea NFT platform has purchased NFT aggregator platform called Gem for an undisclosed amount of money. The acquisition is in alignment with OpenSea’s decision to expand services and experiences for more experienced, “pro” users. As part of the agreement between the two parties, Gem will continue operating independently from OpenSea as a stand-alone product and brand. OpenSea, on the other hand, will integrate key elements from Gem into its services aiming at a smoother and upgraded user experience.
Gem lets you buyacross multiple marketplaces with a single, low-cost transaction. It is known for its easy collection floor sweeping, and rarity-based ranking for collections. The acquisition will provide Gem with resources to accelerate their product vision and roadmap. “It will also allow us bring the best of Gem’s features to OpenSea,” the NFT marketplace that touched the market valuation of over $13.3 billion (roughly Rs. 1,01,859 crore) in January.
1/ Exciting news!
To invest in the “pro” community and continue improving the OpenSea experience, we’re excited to share that we’ve acquired,
Read more in the official announcement blog, and below :point_down:
— OpenSea (@opensea)
The same month, OpenSea crossed the user-mark of one million,claimed to have observed.
The virtual market for digital collectibles has been reigning in the NFT selling space since its launch in December 2017. This January, it set a newby registering monthly sales of over $3.5 billion (roughly Rs. 26,038 crore) for the first time ever.
Meanwhile, with the likes of international celebrities, the sales of NFTs reached some $25 billion (roughly Rs. 1,84,700 crore) in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar,
OpenSea’s latest acquisition does not seem a surprising step, given that the lucrative NFT sectors are inviting newer trade-and-purchase platforms.
Earlier this month,released the of its NFT marketplace for testers to explore.
The US-based platform, among the world’s largest crypto exchanges, will open access to itsfor a wider userbase gradually.
Presently,and are among other popular NFT marketplaces.