By CJ - Crypto Speculator
OpenSea, the world's largest non-fungible token (NFT) marketplace, has announced the purchase of NFT aggregator 'Gem.xyz (Gem)' in order to invest in its "Pro" experience.
Gem.xyz is an NFT aggregator that lets users to buy and sell NFTs on several markets, making it simpler to purchase NFTs at the lower end of the collection's pricing range.
OpenSea is planning to invest in 'Professional' Experience
In order to "better serve" its more knowledgeable consumers, OpenSea stated in a blog post that it had acquired the NFT aggregator. The deal was made a few months after OpenSea purchased the DeFi wallet business Dharma Labs.
The acquisition of Gem would allow OpenSea to "learn from Gem's knowledge and intuition about the advanced NFT community," according to the company.
Gem noted that the merger gives them access to OpenSea's infrastructure and resources, allowing them to speed their expansion, even though the purchase offer was "unexpected." After the acquisition, Gem will continue to exist as a separate brand.
On the other hand, Gem's co-founder was fired for sexual misbehavior, and the purchase was completed shortly after. The individual "has never and will never be linked with OpenSea," according to OpenSea.
As more and more people start becoming familiar not only with buying and selling Bitcoin, but also the utility of NFT’s, the demand for cryptocurrency exchange platforms and NFT Marketplaces is increasing drastically.
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