gem.xyz
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Gem (Gem XYZ Pte. Ltd.) was a Singapore-registered NFT aggregator founded in 2021. It let users buy and sell NFTs across multiple marketplaces in a single transaction, offering features such as sweeping multiple NFTs of the same rarity across collections and buying items at the lowest cost in a collection. Its investors included Dragonfly Capital Partners, Sfermion and Tioga Capital Partners. In April 2022 OpenSea acquired Gem to expand its offering for experienced NFT traders; Gem continued to operate as a standalone brand.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- Founding
Gem was founded as an NFT aggregation platform, later registered as Gem XYZ Pte. Ltd. in Singapore.
- Acquisition
OpenSea acquired Gem in April 2022 to better serve its more experienced NFT users, shortly after Gem removed a co-founder over misconduct allegations. Gem continued to operate as a standalone brand, with the terms of the deal undisclosed.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.