Open Seathe largest market for NFT, acquired by the NFT combination jawharad to “better serve” its experienced users, the company said in a blog post. The deal, which comes just months after OpenSea bought DeFi the launch of Dharma Labs launch, will allow OpenSea to “learn about the Gem experience and the feelings about the advanced NFT community,” the company said.
The news comes a week after Gem removed Josh Thompsona co-founder and key shareholder of the company, from her team allegations from several people that Thomson was involved in rape, sexual harassment, and child molestation, such as BuzzFeed News first reported. It is unclear whether Thompson, who went by the pseudonym Neso, is still a shareholder in the parent company Gem’s Singapore plus the parent company prior to the OpenSea transfer.
During our efforts, we discovered, and immediately revealed, some allegations against a former member of the Gem leadership team operating under the name Neso. When the allegations were investigated, the employee was immediately dismissed before the conclusion of this agreement. This person will never be linked to OpenSea, “OpenSea wrote on its blog.
Gem said the demand for the acquisition of OpenSea was unexpected, adding that the company would now have access to OpenSea infrastructure to accelerate its growth. The Block said. Transfer terms not disclosed. Venture Dragonfly Capital Partners, Sfermion, and Tioga Capital Partners are all Gem investors, according to Pitchbook.
The Gem product allows users to purchase NFTs in multiple different markets at once, pay for each ERC-20 token instead of ETH, and look at analytics such as sales volume, platform price and rank based on the rarity of the NFT collection. In summary, the company claims that its product saves users up to 40% on gas costs compared to using NFT marketplace such as OpenSea directly. Users often take advantage of the “sag-sweeping” site, a term that refers to the availability of the cheapest NFTs for a given project.
Gem will continue to function as a separate product and brand, OpenSea wrote in the post, although OpenSea plans to integrate some of its Gem features and platform. Some people are frustrated with getting their answers Gem’s tweet notificationreferring to the central character of the OpenSea site.
207,577 transactions were completed with Gem by mid-Monday, April 25, according to Dune Analytics data provider. The platform has added more than 48,000 new users since last September, Dune data shows.