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OpenSea Pro: the NFT marketplace aggregator is launched

by Patricia

OpenSea responds to the competition and announces OpenSea Pro: a non-fungible token marketplaces (NFT) aggregator. This new product is in fact an improved version of GEM, acquired in April 2022. Let’s see what it consists of.

OpenSea announces OpenSea Pro

OpenSea’s counter-offensive is launched. Following the emergence of serious competitors – such as Blur – it was undeniable that the first non-fungible token marketplace (NFT) would react. It’s now done, with the announcement of a new product named OpenSea Pro

OpenSea Pro describes itself as an NFT market aggregator. In other words, it is a platform that allows you to acquire the NFT of your choice at the best price by comparing offers on various existing marketplaces.

It is actually an evolution of GEM, an aggregator acquired by OpenSea in April 2022. As the release explains, the product has been worked on and improved for months in order to offer “the best NFT marketplace aggregator in the world”.

The old website address, “gem.xyz,” now redirects to “pro.opensea.io.” The technology remains essentially the same, but is renamed OpenSea Pro, a sign of the company’s desire to consolidate its position as a leader in the NFT industry.

What are the advantages of OpenSea Pro?

Through OpenSea Pro, users have the ability to browse over 170 NFT marketplaces simultaneously. In addition to getting the best price and the best buying or selling fees, the aggregator will not charge any fees and will also offer new and more advanced order types.

By nature, the non-fungible token market is very illiquid. By saying this, we are pushing open doors. Nevertheless, the advantage of aggregators like OpenSea Pro is that they provide a greater depth of available liquidity. This is an advantage for both the seller and the buyer.

Furthermore, aggregating all NFT marketplaces in one place will provide more refined data to study the NFT market. Also note that OpenSea Pro has introduced a new tool (compared to GEM) that will allow tracking and tracing the transactions made in its portfolio, also indicating the performance achieved.

OpenSea is losing momentum

Long considered the undisputed leader of the NFT industry, OpenSea has recently seen its throne threatened by the emergence of strong competitors. Rarible, LooksRare, or Sudoswap, many have tried but none has been able to keep up. With the exception of Blur, perhaps.

NFT’s marketplace has managed to pull its weight and take back significant market share in the space of a few months. One of the main reasons is obviously the series of airdrops of BLUR tokens, having allowed the most active users to recover several thousand dollars.

Weekly volume of different NFT marketplaces

Weekly volume of different NFT marketplaces

Nevertheless, after the hype died down, Blur continued to widen the gap with OpenSea. At the time of writing, 70% of the weekly volume is handled by Blur, compared to only 17% for the former leader. Faced with this situation, OpenSea had to react

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