What Are NFT Aggregators, and How Do They Work?

[TL:DR]
NFT aggregators are decentralized platforms that collect lists of NFTs featured on various marketplaces together on one network for easier access for buyers, traders, and investors.

Since NFTs exploded into the digital assets marketplace, online platforms that see them have equally swelled to fit. There are hundreds of NFT marketplaces, each selling its class of NFTs across boards. This makes it a hectic and time-consuming process of searching across several markets for the different NFTs one might wish to acquire.

NFT aggregators have also solved interoperability problems by bringing transactional data together from multiple Non-Fungible Token marketplaces. They offer price comparisons and other data in one interface, making it easy for users to access all the information they need to choose which assets to get.

According to Golden.com data, there are well over 200 NFT marketplaces at the time of writing. Some examples are Opensea, polygon, X2Y2, LooksRare, Magic Eden, and a host of others. It would be difficult for investors to keep track of all the information on each of these marketplaces at once. Therefore, they might miss out on sweet deals just because of the sheer volume of places to search. Hence the need for NFT aggregators like Orion, genie.xyz, Blur.io, NFTGO, Gem.xyz, and many others.

These aggregators list multiple NFTs from a wide range of marketplaces and allow users to purchase items in bulk, thereby saving gas fees. Users can search for NFTS using their search bar feature, filter the search results, analyze the information received and then place orders using the search aggregators.

Apparently, both collectors and creators find these features useful as these aggregators are recording significant revenue. For instance, according to data from Dune analytics early this year, Genie.xyz has a transaction volume of more than 111,100 ETH or $275 million. Gem.xyz, on the other hand, is hitting almost 140,000 ETH or $294 million. Read on to find out more about this important NFT marketplace tool.

Keywords: NFTs, Non-Fungible tokens, NFT aggregators, Opensea, Gem, Genie, NFT marketplaces.


What are NFT Aggregators?

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Just as the name implies, NFT aggregators are platforms that aggregate or, better yet, gather data across multiple NFT marketplaces. They present this info on a single interface so that users can have a unified view of Non-Fungible Tokens and make informed choices based on reliable data. A few examples of Aggregators are:

- Orion NFT Aggregator: This is the first NFT aggregator to arrive on the scene, launching in 2019. The protocol works to provide a single entry point into the NFT marketplace by aggregating the major marketplaces on one decentralized platform. It also seeks to secure the integrity of NFTs with a price oracle to ensure fair pricing.

- Ludo: a platform that compiles data from several blockchains and allows creators to interact with collectors on a single platform. It has a powerful metasearch engine that operates as google but for NFTs, improving discoverability and interoperability of NFTs across chains.

- Gem.XYZ: This platform gives users access to the entire NFT marketplaces while allowing them to sweep floor prices, stack bulk orders in one transaction, and pay with multiple tokens. It was recently acquired by the flagship NFT marketplace Opensea. By June this year, Gem recorded 89502 addresses leading Genie by more than double at 43404.

- NFTGo: An all-in-one NFT analytics platform that aggregates NFTs transactions from several marketplaces. NFTGo classifies Non-Fungible tokens by ranking, while tracking, rarity, drops calendars, and many more parameters.

- Blur.io: These Aggregator targets pro traders, providing real-time, cross-chain liquidity and live information feeds coupled with the comprehensive metrics users need to perform bulk transactions.



How Do NFT Aggregators work?

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Although each differs in its workings in slightly different ways, all NFT aggregators:

1. Assemble Information: NFT Aggregators gather various transactional data from multiple NFT marketplaces.

2. Aggregate Data: they assemble information in one interface thereby creating a single entry point into the digital asset’s market.

3. Classify Data: the platforms classify collected data under certain parameters so that collectors can analyze the listed info and make informed decisions on the best NFTs to buy. These classifications include rarity, timing, ranking, etc.

4. Provide Search Engines: This feature allows users to track preferred tokens such that even when the specific NFTs are not listed, they can easily add them to their list. Furthermore, some have filter options so that users can further streamline the specific tokens they want.

5. Bulk Purchase: NFT aggregators make it possible for buyers to purchase multiple NFTs that they would have had to chase across multiple marketplaces under one roof. Users can simply stack multiple NFTs and buy them in one go, saving them the stress and extra gas fees.


Benefits of NFT Marketplaces.

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Maximizing gas fees by purchasing in batches
User-friendly interface
Powerful search engines + filters
Time and effort maximization
Give Creators massive exposure


Final Words

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NFT aggregators save collectors the stress of hopping from chain to chain in search of NFTs and allow them to maximize gas fees by combining more than one purchase in a single transaction.

They also give creators the necessary exposure their work might not have received on the marketplaces they originally listed them on.







Author: Gate.io Observer: M. Olatunji
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