What is NFTs Marketplace Aggregator?

Summary

An NFT aggregator is an application that integrates order information from multiple NFT distribution platforms. It was created to solve the problem that order information from multiple marketplaces could not be shared with each other. In the traditional sense, aggregators even predate the crypto industry. Aggregators have long played an important role in collecting and compiling valid information.

There are many examples of aggregators in Web2, such as search engines that aggregate and optimize website content, and social platforms that aggregate and satisfy people’s social needs.

With the arrival of Web3, aggregator applications have emerged in different fields like mining, DeFi, and NFT. Aggregators not only help users to explore more in the market and gain more value, but they are also becoming an integral part of the crypto ecosystem.

Usages of NFT Aggregators

NFT aggregators are mainly used as a Web3 tool for collecting market information on different NFTs. There are differences in the functions provided by different aggregators. The basic function of the aggregator is to provide a centralized summary of NFT market information, especially for the pending orders of all NFTs.

NFT market information is actually quite simple. NFT trading platforms such as OpenSea, Rarible, and Larva Labs will provide real-time floor price information on different series of NFTs.

Aggregators allow users to know the market information about NFT on different trading platforms. The aggregating speed depends on the capacity of the aggregator, which is the most basic feature offered by most aggregators.

Of course, trying to cover as many different trading platforms as possible and thus attracting more users is the goal of many aggregator developers, so they will often add many additional features to their products.

The Benefits of NFT Aggregators

• Maximum information integration - Aggregates all viewable, tradable and purchasable NFTs on the market for the user.
• Fast and efficient search - Users can quickly find relevant information about a specific NFT on all trading platforms through the aggregator.
• NFT information analysis - Users can find the information they need to analyze content on the same aggregator, where they can find information such as total sales volume, floor price, high price holders, and more.
• Optimized trading procedure - Users can trade NFT directly through the webpage of the aggregator and spend fewer gas fees on bulk transactions. Many aggregators also support multiple cryptocurrencies for payment, which provides great convenience.

NFT Aggregators present information from different marketplaces in one application, so as to optimize users’ experience. Without the aggregator, users would have to visit each NFT marketplace and register separately, which is unfriendly not only for NFT newcomers but also for experts in the space.

NFT’s aggregated trading has offered great convenience and even more expanded functionality for users.

Popular NFT Aggregators

Many commonly used NFT aggregators are more like product-based service providers. Though different aggregators have various focuses, the most basic function is still the aggregation of NFT order information.

In order to increase the competitiveness of their own applications, developers also add some featured functions like bulk purchases (to reduce gas fees) to attract more users.

However, for many users committed to the NFT market, the biggest role of aggregators is to easily read the tape. Market trends are often reflected through the fluctuation of prices, and the convenience that aggregators can provide is often very useful.

(Source: gem.xyz)

GEM

GEM aggregates NFT listings on multiple platforms including OpenSea, Rarible, LooksRare, X2Y2, NFTX, and NFT20.

Its ultimate goal is to aggregate all NFT marketplace listings so that users no longer need to jump across platforms to compare prices. The trading experience becomes similar to online shopping, with shopping carts and bulk purchases.

Bulk purchases on GEM can save up to 33% in fees compared to ordinary purchases. GEM accepts all ERC-20 tokens as the payment method, allowing users to pay in multiple currencies at once, greatly increasing flexibility.

GEM will provide data from Dune Analytics for NFTs, allowing users to view key data (sales, floor price, transactions, holding distribution, etc.) directly on the platform.

（图片来源于genie.xyz）

Genie

Genie is perhaps the first product on the NFT aggregator track. Like GEM, it’s another hotly discussed aggregator application.

Genie began closed beta testing in August 2021, and a total of 631 users completed over 1600 transactions during the beta period, with a total transaction amount of over 5500 ETH.

Genie currently supports trading marketplaces such as OpenSea, NFTX, Rarible, LooksRare, and Larva Labs, and does not charge any platform fees.

Theoretically, Genie can save users up to 40% of the gas fee, but this depends on the number of NFTs purchased in bulk by users in a single transaction.

(Source: despace.io)

DeSpace

DeSpace is an aggregator for DeFi and NFT, and a one-stop platform to participate in DeFi and the NFT markets.

DeSpace provides many functions other than aggregation, basically covering the NFT market, on-chain transactions, collateral lending, and cross-chain. DeSpace is trying hard to explore more directions in its functional expansion.

According to its official website, DeSpace will access hundreds of mainstream DeFi protocols and NFT marketplaces, including Uniswap, PancakeSwap, Bondly, Auction, Compound, and OpenSea, so that users can easily use the functions provided by these projects on only one platform.

（Source: blur.io)

Blur

Blur is a new form of NFT aggregator, building a high-speed model for trading like in an “exchange”.

In addition to providing information about NFT trading orders, Blur has also been adding a number of new NFT series to its shelves. In its early stage, Blur attracted a lot of users through cheap and even free airdrops, and the rapid release of governance tokens, and later retained these users with its aggregating service.

Compared to the traditional royalty-sharing model represented by OpenSea, Blur’s trading model may not be friendly to NFT creators, which is essentially a price tool. But Blur does offer good experiences, which is perhaps more important to the average user. But while gathering popularity and traffic, the mode also made the development path of the NFT market more limited.

Conclusion

There is no doubt that the emergence of NFT market aggregators has facilitated many users in NFT trading. Although they do not necessarily contain exactly the same features, they are all designed to increase convenience.

NFT liquidity consolidation and trade aggregation has always been a major problem for investors in recent years. NFT aggregators fill this gap. They learn business logic from many Web2 applications.

As aggregators become an increasingly important part of the NFT space, mainstream NFT marketplaces are following up in building aggregators. For example, OpenSea Ventures is investing in NFT aggregators and data analytics platforms that can support OpenSea and other NFT marketplaces.

NFT aggregators are still in their initial stages, and there is still room for optimization, especially in terms of function and technology, including the retrieval of NFT series and contract addresses, metadata updates, quote updates, and other extended functions.

The application of aggregators in the NFT field is maturing in exploration, and will definitely have a broader prospect in Web3.