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Oxalus Insights

What Are NFT Marketplace Aggregators & How Do They Work?

Guides Nov 20 2022
[OX] 107_what are nft marketplace aggregator

Since the NFT boomed in the digital asset market, online platforms supporting them also started to appear quickly. There are hundreds of NFT marketplaces, each selling NFTs on different blockchains which make searching for NFTs on different marketplaces more complicated, especially for new entrants to the market.

NFT aggregators have also resolved interoperability problems by combining transactional data from several NFT marketplaces together. They provide pricing comparisons and other data in a single dashboard, making it easy for consumers to obtain all of the information they want to decide which assets to purchase. In this article, we will help you to clear the definition of NFT Aggregator as well as its working principle.

What Are NFT Marketplace Aggregators

NFT aggregators, as the name indicates, are the platforms that aggregate or, better yet, gather data from multiple NFT marketplaces. They display this information in a single interface so that users can make informed decisions based on reliable data. This is more convenient, you don’t need to visit different marketplaces. 

Here are some examples of today’s most popular NFT Aggregators:

Oxalus NFT Aggregator

This is the first NFT Aggregator on the 2nd largest blockchain today – BNB Chain. Oxalus NFT Aggregator offers gas savings of up to 88%. This is where new users can freely explore the NFT market without worrying about their budget. In the future, Oxalus will integrate more blockchains to give users more choices.

Gem.xyz

This platform provides users with access to the full NFT markets on Ethereum, as well as the ability to sweep floor pricing, stack large orders in a single transaction, and pay with various tokens. Recently, it was acquired by the leading NFT marketplace Opensea.

Blur.io

This Aggregator is aimed at professional traders, offering real-time, cross-chain liquidity and real-time information feeds, as well as the full metrics required for bulk transactions.

How Do NFT Marketplace Aggregators Work?

In general, NFT Aggregators collect NFT data or information from various sources, classify it, and feed it to search engines. Although each works in some different ways, all NFT aggregators follow the steps below:

Assemble Information

NFT Aggregators collect transactional data from NFT marketplaces on one or multiple blockchains. This data is very important to be able to take the next steps.

Aggregate Data

The gathered information is combined in a single catalog or interface to offer a single entry point for the platform. When data is queried, this single entry point makes it simple to obtain it.

Classify Data

Data classification entails categorizing the combined data based on certain metrics or factors such as rarity, timing, price, ranking, etc. This simplifies data analysis for prospective buyers or investors.

Provide Search Engines

This feature allows users to track preferred NFTs so that they may simply add them to their list even if the exact NFTs are not listed. Furthermore, some provide filter features to help users pinpoint the precise tokens they seek.

Bulk Purchase

Buyers can use NFT aggregators to purchase several NFTs that they would have had to seek across various marketplaces under one roof. Users can also easily stack several NFTs and purchase them all at once, saving them time and gas fee.

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How You Can Benefit From An NFT Aggregator?

The NFT Aggregator offers many benefits to both NFT buyers and sellers. The most prominent factors can be considered as follows:

Maximizing Gas Fees By Purchasing In Natches

If you wish to buy many NFTs on most of the current NFT marketplaces, you must normally do so separately for each NFT, which leads to paying fees for many transactions. However, using NFT aggregators, users can conduct many transactions at the same time, so they have to pay a small amount of gas fee for only one transaction.

User-friendly Interface

As previously mentioned, NFT Aggregators allow users to trade NFTs without switching markets by showing products from many NFT marketplaces in a single interface making it easy to use even for newbies.

Powerful Search Engines

Because of their search algorithm and sorting, NFT Aggregators allow users to search for any NFT they desire by using metadata and even natural language.

Time & Effort Maximization

Because NFT Aggregators provide a lot of tools to make it easier for you to buy NFT, it is a time and effort saving solution than many other regular marketplaces. You can get all the information you need whether you are a newbie or an NFT expert.

The Bottom Line

NFT Aggregators have evolved into more than simply a temporary solution for NFT purchasing in the NFT market. They relieve collectors of the stress of hopping from chain to chain in quest of NFTs while also allowing them to maximize gas fees by merging many purchases into a single transaction. They also provide creators with the essential exposure that their work may not have received on the marketplaces where they were first posted. In the future, these platforms will be improved more and the day when we can buy NFTs from all blockchains in one place will not be far away.

Frequently Asked Questions

1. How can NFT Aggregators offer gas savings?

Instead of having to make multiple transactions to buy multiple NFTs from different NFT marketplaces, gas fees vary according to the number of items and not by the floor price, so bulk purchase will save more gas fees.

2. Is NFT Aggregator difficult to use for newbies?

The answer might be “no”. When you firstly come to the NFT market, you may find the concept of NFT Aggregator confusing. However, you will quickly adapt to it because of the extremely convenient features that NFT Aggregator brings.


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