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OpenSea acquires Gem and Chess.com enters NFTs

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OpenSea buys NFT market aggregator Gem

In a Twitter post Monday, OpenSea announced that it has acquired NFT marketplace aggregator Gem for an undisclosed price. In a blog post by OpenSea Chief Executive Officer Devin Finzer, the company made this move to improve the experience of its more experienced “pro” users.

Gem allows traders to buy NFTs across different collections and multiple marketplaces in a single transaction, saving on gas fees. For now, OpenSea is adding popular Gem features to its platform, such as:

Gem will continue to operate independently of OpenSea as a standalone product, but OpenSea intends to continuously integrate more Gem features into its NFT marketplace in the future.

However, many of the user comments on the Twitter thread were critical of OpenSea’s recent move. Amid multiple hacks and recent phishing scandals, collectors like @BandoNFT called he would rather invest in OpenSea to “improve communication and customer service”.

Virtual influencer Rae celebrates girls in STEM

Rae is one of the CGI (Computer Generated Imagery) influencers in Asia, many of whom have a large following on Instagram and Weibo. Known as “here.is.rae” on social media, her Instagram bio states that she is a virtual being, digital artist, and STEM (science, technology, engineering, and maths) advocate.

Rae announced her upcoming second NFT collection ahead of the United Nations-recognized International Girls in ICT Day on April 28 (Information and Communication Technology). The virtual influencer intends to use this collection to advocate for better STEM education for young girls. Eight percent of all sales and royalties go to a non-profit organization called United Women Singapore.

The collection called “Adventures of Tako” features Rae’s virtual pet named Tako. NFT holders of the first of three series will receive an audio message from Rae and receive priority access to the launch of the second series of the collection.

Chess.com launches an NFT marketplace

Wyre, a fiat-to-crypto and payments infrastructure company, has partnered with online chess community Chess.com to launch a new NFT marketplace called Treasure Chess. The platform allows users to convert a chess game played on Treasure.chess.com into a Treasure NFT. Users can then buy, sell, mint and collect their “treasures” on the layer 2 blockchain polygon.

Treasure Chess generates an Ethereum address for users who log in with their Chess.com accounts. Wyre allows players to use it Debit cards to buy stablecoin USD Coin (USDC) to buy NFTs without having to have a separate wallet. Dubbed an experiment, Chess.com explained that its mission is to enrich users’ chess experience and to help chess streamers and content creators celebrate their favorite games.

Other nifty news

According to Cointelegraph market analyst Alyssa Exposito, the recently launched owl avatars Moonbirds NFT Collection brings new liquidity to the NFT market. So much so that The Sandbox Metaverse Bought MoonBird #2642 for 350 Ether (ETH) or about $1 million originally purchased for 100 ETH. At the time of publication, Moonbirds had generated 117,115 ETH in volume, or just over $332 million in revenue, in a 10-day run on OpenSea.

Another NFT collection with an increasing market cap is Bored Ape Yacht Club or BAYC ahead of Yuga Labs Metaverse land sale The Otherside. On April 25, BAYC suffered a phishing attack that coincided with the one-year anniversary of its launch. Hackers cracked BAYC’s official Instagram page and shared links to a fake airdrop.