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Ever since Blur stole the headlines as the busiest NFT marketplace, keen followers of the space have been waiting to see what OpenSea’s response would be. Many even speculated the platform would airdrop its own token to incentivize users like its main rival did. However, OpenSea has chosen to take a different route.
According to an official tweet shared on April 5, the platform has introduced OpenSea Pro, a marketplace that will feature more trading tools, zero fees, and reward traders with NFTs. The last bit is understood to dissuade the rampant wash trading associated with token airdrops as traders’ game the system to earn the most rewards.
Allow us to reintroduce ourselves 📣
Starting today, Gem V2, the best-in-class NFT aggregator, is now OpenSea Pro!
💎➡️⛵️
OpenSea Pro will still be run by the same Gem team you know & love, but with unified brands we are able to offer users MUCH more
Let’s dive in 👇🏽🧵 pic.twitter.com/pyt6QnjW7b
— OpenSea Pro (@openseapro) April 4, 2023
OpenSea Pro isn’t a newly built platform, however; it’s a rebrand of Gem V2, an NFT trading platform it acquired last April in a bid to serve “more experienced” or “pro” users better. Now the new marketplace comes with additional features that make it an upgrade over the parent platform. That said, users of OpenSea Pro can expect to see aggregated NFT listings from over 170 NFT marketplaces, both large and small, such as X2Y2, Blur, LooksRare, Magic Eden, and so on.
The Many Perks Of OpenSea Pro
Users will also be able to make purchases from different marketplaces in a single transaction. Plus, they will have more flexibility when searching for listings and when it comes to managing their digital collectibles. Not to mention an aggregation of all offers on a collection across various marketplaces.
As mentioned earlier, the new marketplace will not charge traders any fees for now. However, this might change with time. The parent platform had to lower its standard 2.5% fee on trades amid stiff competition from Blur.
As for royalties, OpenSea Pro will adopt its parent platform’s current model of 0.5%, with users given the option to pay more if they feel like it.
Most importantly, traders on the new marketplace will be rewarded with NFTs. OpenSea is yet to disclose more information about this. But for now, users of Gem who bought an NFT via the platform before March 31 will be eligible to mint a free “Gemesis NFT.”
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.
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