OpenSea acquired ETH NFT aggregator GEM, which allows users to buy NFTs from different platforms in batch and save on fees, so OpenSea plans to fully integrate it, but let’s read more in today’s Ethereum news .

Opensea acquired GEM, an NFT marketplace aggregator service. GEM enables bulk purchases on multiple marketplaces and some of the functionality will be integrated into OpenSea. GEm is an ETH NFT marketplace aggregator that allows collectors to buy assets in bulk across multiple platforms, acquired by OpenSea as the best NFT marketplace by trading volume. The platform announced the move this morning, with CEO Devin Finzer writing a blog post, adding that GEM is a part of the upcoming move that will serve more advanced NFT buyers.

As the NFT community grew, the platform recognized the need to better serve the more experienced users and provide flexibility, but also give people of all experience levels more choices, Finzer wrote. Gem is a single platform that connects to various NFT marketplaces such as LooksRare, OpenSea, and Rarible and also allows users to buy assets from any of them in one transaction. This can result in significant fee savings, and Gem has also integrated the rarity rankings for the NFT collections like traits into profile picture collections.

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The NFT serves as blockchain-backed proof of ownership for the digital items and is commonly used for things like profile pictures, digital illustrations, and video game items. The overall market grew to a trading volume of $25 billion in 2021. According to Fizner, GEM will operate independently, adding more features to its platform and bringing some of the features to OpenSea in the future.

Finzer said he acknowledged the allegations against Gem’s co-founder called NESO, saying:

“In the course of our investigation, we learned of some deeply concerning allegations against a former member of Gem’s executive team, who was operating under the alias Neso, and surfaced immediately. After investigating the allegations, the employee was immediately fired before the completion of this transaction. This person was and will never be associated with OpenSea.”

Gem is similar to another NFT marketplace aggregator Genie that specializes in bulk buying. However, it has also taken the lead lately and DAppRadar has even highlighted that GEM processes up to 10x more transactions and overall trade volume than Genie.

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