OpenSea Flexes its Might with Gem Acquisition

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NFT giant OpenSea has once again flexed its significant power within the industry, recently acquiring high-flying NFT aggregation platform, Gem.

Through its procurement OpenSea will look to incorporate some of Gem’s groundbreaking features into its platform, including the ability to purchase multiple NFTs from a range of platforms in a single transaction, as well as some of its incredible analytical tools and rarity-based ranking system.

While announcing the news, OpenSea made its first mention of a ‘Pro’ experience. A signal that commentators are widely interpreting as an upcoming additional tier of membership. Therefore, giving those willing to ‘pony up’ access to a wider suite of trading tools.

1/ Exciting news!

To invest in the “pro” community and continue improving the OpenSea experience, we’re excited to share that we’ve acquired @gemxyz !

Read more in the official announcement blog, and below 👇

— OpenSea (@opensea) April 25, 2022

At OpenSea, our mission is to bring the power and potential of NFTs to more people around the world. As the NFT community grows, we’ve recognized a need to better serve more experienced, “pro” users, and offer more flexibility and choice to people at every level of experience,” stated the OpenSea team.

Following the acquisition, Gem will continue to operate as an independent entity, and maintain the steady pace of its roadmap. The only difference being that it now has an incredible amount of funds supporting it, and that certain developed features will find their way onto the OpenSea platform.

Read the full announcement >> Here


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