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NFT News: OpenSea Acquires NFT Aggregator Gem

Jeff Pratt breaks down OpenSea acquiring NFT aggregator Gem to invest in the “pro” community.

The world is expanding, and DraftKings is expanding along with it. As NFTs continue to grow, these daily articles will serve as a hub for the latest news and notes in the space.

In case you are new to the Metaverse, check out my quick breakdown on what NFTs are and how they work. For those looking to get in the game, read my article on how to set up a MetaMask wallet.

OpenSea Acquires NFT Aggregator Gem

Leading NFT marketplace OpenSea announced that it has acquired Gem on April 25. The NFT aggregator allows users to buy and sell collectibles across a variety of marketplaces.

One of the appealing aspects of an aggregator is that it gives NFT enthusiasts the opportunity to sweep the floor of collections simultaneously on multiple marketplaces.

As OpenSea described in its announcement, this move is a hat tip to “pro” NFT enthusiasts in order to create flexibility across other platforms.

Gem is known as one of the best NFT aggregators in the community, as it gives users the ability to save up to 42% in gas fees along with other benefits.

As Gem described in an announcement on Twitter, the company will continue to operate independently from OpenSea. This deal will allow the aggregator to accelerate its roadmap, which both parties have expressed excitement about.

This partnership comes after Coinbase launched its NFT marketplace in beta, emerging as a legitimate competitor for OpenSea after years of dominating the industry. This could be the start of a battle between the two prominent companies as the metaverse continues to expand.

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