Key Points:

• OpenSea has launched OpenSea Pro in opposition to Blur, a new competitor.
• OpenSea Pro is an improved and renamed version of Gem V2, the most recent version of the NFT marketplace aggregator.
• Under the same brand name, the platform is still marketed separately from the conventional marketplace.

OpenSea, the leading marketplace for non-fungible tokens (NFTs), announced on Tuesday the launch of OpenSea Pro. OpenSea Pro is a marketplace with enhanced features aimed at the growing market for professional NFT traders. Blur, a rival marketplace for NFTs, has soared since its inception.

OpenSea was able to improve and polish Gem’s infrastructure in order to produce the new OpenSea Pro after acquiring NFT aggregator Gem in April 2022.

Gem V2, the most recent version of the NFT marketplace aggregator that it acquired in April 2022, has been renamed OpenSea Pro and has been enhanced in other ways. Devin Finzer, the company’s co-founder and chief executive officer at the time, said that the move was meant to attract more seasoned, savvy customers.

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OpenSea Pro continues to be sold under the same brand name as the basic marketplace product.

In response to the emergence of rival Blur, which surpassed OpenSea in terms of NFT trading volume in February, the primary marketplace of OpenSea recently reduced its standard platform charge by 2.5 percent. OpenSea Pro will now pull listings from 170 marketplaces and present merchants with the lowest prices with no fees. It will provide traders with fast sales, inventory management, sophisticated floor sweeping, the ability to optimize gas costs for effective deals, a watchlist tool, and other features.

The entrance is likewise versatile and portable upgraded, empowering clients to investigate, clear, and rundown from their telephones.

To express gratitude to Gem’s early adopters, the Gem team is delivering a special “thank you” in the form of a Gemesis NFT drop to coincide with the release of OpenSea Pro. Up until May 4, those who purchased an NFT on Gem prior to March 31 are eligible to receive a free Gemesis NFT.

OpenSea Pro will adhere to the current OpenSea policy of requiring projects that do not employ an on-chain enforcement method to pay creator royalties a minimum of 0.5 percent. If they so choose, sellers may pay more than 0.5 percent. A royalty, which typically amounts to 5-10% of the secondary selling price, is a payment made to the author of the original NFT.

OpenSea still has more active members than Blur, despite falling to second in NFT marketplace trade volume. Presently, the two stages are effectively battling for the NFT optional item market.