OpenSea buys NFT aggregator Gem

May 12, 2022

One of the world’s most famous platforms for buying crypto assets, OpenSea, announced the purchase of Gem. It is assumed that the merger of the two companies takes place on good terms, so each of them continues to develop and improve.

Why is this deal good?

At the moment, OpeanSea is one of the most famous marketplaces where you can buy NFTs. Most of the developers who work in this industry tend to use this particular platform because it could create favorable conditions for cooperation and excellent security.

In addition, many customers choose this specific platform because here, you can buy several NFTs from different collections by making only one transaction, which allows you to save a lot.

NFT aggregator Gem has become famous for its professional team, which works wonders in the world of crypto assets. It helps develop Ethereum-based NFTs and has collaborated with OpeanSea and with LooksRare, X2Y2, Rarible, and NFT20. It also allows users to scan the market, learn more about the crypto industry, and buy non-fungible tokens in bulk (rather than one at a time like on other platforms).

Representatives of the aggregator say that the offer from OpeanSea was highly unexpected, but they decided to go for it because they were offered good conditions.

Firstly, Gem continues to work in its usual rhythm. OpenSea won’t interfere much with the team’s workflow. In addition, specialists will have access to a massive database of the trading platform, which will allow them to develop faster and more organically.

Secondly, OpeanSea will be able to use Gem to test and develop their future projects. It will be a good decision for both parties, as it will allow them to receive additional income and produce high-quality products.

Another point is that Gem recently lost a key member of its development team, Josh Thompson. He was accused of harassment and rape. The merger with OpeanSea will help the aggregator stay afloat, not suffer much due to the absence of an important player and public outrage, and also find a professional who can join the team and start working productively.

If OpenSea does not interfere with the work of Gem, then these two entities together can achieve a lot. In addition, OpenSea could be another example of how companies can be acquired to destroy or ruin them and work together more beneficially, which will benefit both teams.

OpeanSea and Solana collaboration

Gem is not the only company that OpeanSea has influenced. So, in April, it integrated Solana support.

Initially, OpeanSea had many different NFT projects, including Solana Monkey Business, DeGods, Degenerate Ape Academy, and many others. With Solana offering meager fees at very high transaction speeds, OpenSea decided that the collaboration would significantly lower the threshold for accessing NFTs.

In addition, thanks to such a system, OpenSea now allows its users to store NFTs in separate crypto wallets. Competitors such as Magic Eden and FTX NFT cannot offer this.

Currently, OpenSea supports four blockchains: Ethereum, Solana, Polygon, Klaytn. It allows you to meet more customer needs and give more freedom to developers.

If OpenSea continues to move in this direction, it will continue to occupy a leading position in the market and increase capital.


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