OpenSea, the world’s largest marketplace for non-fungible tokens (NFTs), has announced the acquisition of NFT aggregator Gem.xyz (Gem) to invest in improving its “Pro” experience.

Gem.xyz, an NFT aggregator allows you to sell and buy NFTs on multiple platforms. It also makes it easy to purchase an NFT at a lower price.

OpenSea to Invest in ‘Pro’ Experience

OpenSea announced via a blog post that it had acquired the NFT aggregator to “better serve” its more experienced users. This acquisition follows the purchase of DeFi wallet startup Dharma Labs by OpenSea in March.

According to the post, OpenSea said that the acquisition of Gem will help it “learn from Gem’s expertise and intuition about the advanced NFT community.”

Although Gem said the acquisition offer was “unexpected,” it says that the acquisition gives it access to OpenSea’s infrastructure and resources to accelerate its growth. Gem will still be a separate brand.

To The Flipside

• Gem, its cofounder for sexual misconduct had been fired. The agreement was finalized. OpenSea says the individual “has never and will never be affiliated with OpenSea.”

Why you should care

Gem.xyz, a Gem.xyz-based aggregator can help users save as much as 40% on their gas costs when used in conjunction with an NFT market like OpenSea.

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