NFT marketplace OpenSea has unveiled OpenSea Pro, its new nonfungible token (NFT) marketplace aggregator aimed at serving the needs of professional users. As so, OpenSea’s acquisition of NFT aggregator Gem in April 2022 enabled it to develop and refine Gem’s platform to create the new OpenSea Pro.
OpenSea Pro – A New Frontier for Professional NFT Collectors
According to the announcement, OpenSea Pro seeks to offer a new level of optionality, selection, and control for professional collectors. Moreover, the platform plans to offer a suite of improved features that allows collectors to discover the best deals and insights across 170 marketplaces and access sophisticated tools that meet their need for automation.
In addition, OpenSea Pro has introduced an “advanced orders” feature that allows users to “sweep across the deepest liquidity of any NFT marketplace aggregator,” giving users more control over their purchases. OpenSea Pro is also mobile-compatible and optimized for mobile devices, allowing users to browse, sweep and list from their phones.
OpenSea Pro’s Incentives and the Impact of the Gem Acquisition
The platform shared that users can list on OpenSea with 0% fees through Pro for a promotional period, with no additional fees. Moreover, to express gratitude to Gem’s early adopters, the Gem team is providing Gemesis NFT drop. Eligible users who purchased an NFT on Gem before March 31 can claim a free Gemesis NFT until May 4.
In 2022, OpenSea acquired Gem for an undisclosed amount to improve the experience of its more seasoned “pro” users. Gem enabled traders to purchase NFTs across various collections and multiple marketplaces in a single transaction, lowering gas fees.
OpenSea’s Strategy to Regain Market Dominance and Secure User Base
In February, OpenSea implemented a strategy to win back its NFT user base. It had lost it to rival NFT marketplace Blur. Blur had surpassed OpenSea in daily Ether (ETH) trading volume as users sought a trading platform that favored their NFT investments. To counter this, OpenSea implemented a 0% fee policy to attract users back to its platform.
The Future of NFT Marketplaces
The company aims to regain its position as a leading NFT marketplace by catering to the needs of professional collectors. By offering advanced features and a mobile-optimized experience, OpenSea Pro is poised to attract a significant user base. The promotional 0% fee policy and Gemesis NFT drop serve as further incentives. It will attract them to explore the new platform. As OpenSea continues to innovate and improve its offerings, the NFT marketplace landscape will undoubtedly evolve along with it.