OpenSea intensifies its platform by acquiring NFT aggregator Gem

OpenSea intensifies its platform by acquiring NFT aggregator Gem
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BUSINESS

OpenSea intensifies its platform by acquiring NFT aggregator Gem

OpenSea will permit pro users to buy NFTs in bulk from multiple platforms.

04/26/2022

OpenSea intensifies its platform by acquiring NFT aggregator Gem

OpenSea purchased Gem, an Ethereum-based non-fungible token marketplace aggregator. 

Devin Finzer, OpenSea co-founder and chief executive, announced on Monday in an official statement about the company’s acquisition of Gem.

OpenSea’s new acquisition

“To invest in the future of the pro community, OpenSea has acquired Gem, the leading NFT marketplace aggregator,” The acquisition will enable users to buy NFTs in bulk from multiple platforms. 

“Gem lets you buy NFTs across multiple marketplaces with a single, low-cost transaction, and is known for its easy collection floor-sweeping, and rarity-based ranking for collections,” according to the announcement.

Moreover, Gem will continually operate as a stand-alone brand and create its functionality and features. Finzer added that some features will be available to the platform of OpenSea. 

No more Neso in Gem

Finzer, however, does not turn a blind eye to the allegations against Gem’s former executive John Thompson. 

During the course of our diligence, we learned about, and immediately surfaced, some deeply concerning allegations against a now-former member of Gem’s leadership team who operated under the pseudonym Neso,” Finzer stated. 

Back in 2020, Thompson faced the accusation of rape and sexual harassment. Later, he co-founded Gem and used a new profile under the pseudonym Neso. 

“Upon investigating the allegations, the employee was immediately exited before the close of this deal. This individual has never and will never be affiliated with OpenSea,” Finzer clarified.

By Marielle Petere Wozinga Staff

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