• OpenSea acquired Gem to invest in Pro service and released an upgraded version of Gem.
• The rebranded NFT data aggregator will include new features, including instant sales and advanced order types with zero fees for NFTs listed through OpenSea Pro.
• OpenSea is a response to the competing Blur.io taking up most of the $2bn trading volume generated by NFT traders in March, with an exclusive NFT collection for the most loyal users of the aggregator.
OpenSea Acquires Gem
OpenSea recently acquired Gem on April 25th, 2022, to invest in their Pro service. The leading NFT marketplace decided to take it up a notch and released an upgraded version of Gem called OpenSea Pro which includes new features such as instant sales and advanced order types without any fees for listing NFTs on their platform.
Challenging Blur
OpenSea’s move is seen as a response to its competitor Blur.io who took up majority of the monthly trading volume nearing $2bn generated by NFT traders in March. The innovative move by Open Sea aims at giving its most valuable members exclusive access to an exclusive NFT collection from Gemesis.
Executive Team Remains Same
The executive team of Open Sea Pro remains same as that of Gem, but they have planned to launch an in-built native cryptocurrency for their users soon. Meanwhile, Blur users flip NFTs for yield but not necessarily reflecting actual volumes traded by them during that time period.
Rewards System For Most Valuable Members
Open Sea has also announced a rewards system which will give its most valuable members exclusive access to certain Non-Fungible Tokens (NFT). On top of that they also erased all fees related to listing tokens on their platform due to this launch event which is sure to attract many more users into using this platform over competitors like Blur or other similar ones out there.
Conclusion
The latest move by OpenSea introducing features like no fee listings and rewards system will certainly help the Non-Fungible Token market shine brighter this year! All these changes are sure to attract many more users towards using this particular platform over others out there!