OpenSea Flexes its Might with Gem Acquisition

They just announced that they have acquired Gems, a company specializing in the creation and trading of digital collectibles on their platform. The move is strategic for OpenSea as it will give them more exposure to new players as well as increased liquidity on the marketplace.

OpenSea, the industry’s largest NFT provider, has shown its muscle once again by purchasing Gem, a high-flying NFT aggregation platform.

OpenSea will attempt to include some of Gem’s ground-breaking features onto its platform via its acquisition, such as the ability to buy several NFTs from other platforms in a single transaction, as well as some of its great analytical tools and rarity-based rating system.

OpenSea made the first mention of a ‘Pro’ experience when presenting the news. A hint that many pundits are reading as a new membership tier on the way. As a result, individuals willing to ‘pony up’ will have access to a larger set of trading tools.

1/ Wonderful news!

We’re thrilled to announce that we’ve bought @gemxyz in order to invest in the “pro” community and continue to improve the OpenSea experience!

More information may be found on the official announcement blog and at https://t.co/IBn38f2d3U.

— April 25, 2022, OpenSea (@opensea)

“At OpenSea, our objective is to spread the word about the power and potential of NFTs to as many people as possible.” The OpenSea team noted, “As the NFT community expands, we’ve seen a need to better serve more experienced, “pro” users, as well as give greater freedom and choice to individuals at all levels of expertise.”

Following the purchase, Gem will continue to function as a stand-alone company, pursuing its roadmap at a steady pace. The main difference is that it now has a significant amount of funding behind it, and that some of the created capabilities will be included into the OpenSea platform.

Read the full announcement >> Here

 

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