On April 25 of 2022, OpenSea made an acquisition of NFT aggregator Gem, which eventually led to the development of OpenSea Pro. This trading platform gave users access to a wide variety of features, such as live cross-marketplace data and advanced orders. OpenSea then decided to honor the launch of OpenSea Pro with a collection of free NFTs, known as Gemesis, available to those that had bought at least one NFT within Gem prior to March 31.
Recently, on the NFT marketplace Blur, a trader seemed to have fat fingered a trade, buying a free NFT from the Gemesis collection, for 100 Ether (ETH). At the current value this amounts to $191,239 which is a 250,000% increase from the floor price of 0.04 ETH. People on the internet debated whether this was wash trading, the illegal practice in which the trader buys and sell their own assets to feed false data for personal gain, or if it was an accident.
Twitter user “0xSun” believed the sale occurred due to a misclick as the trader likely intended to put a bid valued at $100. Others agreed, explaining that it would have been too risky to be a wash trade since it was available to anyone, and someone or a bot would have quickly snapped up the offer as it was well above the floor price.
Though it is unclear what eventually happened to the 100 Ether, OpenSea gave users the ability to commemorate their platform's launch. Those who had been trading via Gem before the established date still have the opportunity to mint NFTs from the Gemesis collection until May 4.
Benjamin Anderson
- 2023-04-06
Commemorating the Launch of OpenSea Pro with Gemesis
OpenSea Pro, a trading platform that gives users access to a wide variety of features, launched its own collection of free NFTs known as Gemesis. For the commemoration, those involved with Gem prior to the 3/31 date still have the opportunity to mint NFTs from the collection until 5/4.
