Remember the amazing days when there used to be countless galleries that everyone used to frequent? The places were also quite ironic given that they used to be frequented by tourists. There was a time it took nearly a couple of mins before a photograph was actually taken. Following that it took quite some time till the final output was given. Over time that has changed quite a bit. Nowadays it’s become all too easy and there are several different kinds of things that have evolved as well. With evolution comes adaptation and with adaptation comes the need o understanding the utilities, the usage, and more. Well as everything changed, a good deal of new ideas, creative ideas, and more. Gaming too has changed over time as well, I mean remember the good old days when gaming was a hyped-up thin and several games started making massive impacts? That has been altered too by making gaming not only a source of entertainment but at the same time a solid source of income as well.
NFTs are one such thing that came from this entire shift in the world. Well, to be exact it was the blockchain, then the cryptocurrency, and then finally the NFTs. While initially starting off as absurdly priced artworks to marketing gimmicks made by people who wanted to explore marketing through different means. Now coming to the metaverse, this is something that was founded with the blockchain as its very base so for sure it was going to have a lot to do with NFTs and crypto. However, with all this buzz several different NFT marketplaces started thriving and booming and several NFT platforms and aggregators greatly profited off of it, but wait a second? What are aggregators? Well, that is what we are going to find out.
What are aggregators and what do they do?
To be exact there is a lot they do. That’s, not the answer you expected, is it? So, to break it down it is a model with the middleman concept. The aggregator serves its purpose by taking NFTs from different marketplaces and adding them to a platform from where they can be purchased, which allows him to get a moderate if not profitable deal out of all of it. These NFTs can be bought without actually visiting the NFT marketplace while also allowing the aggregators to earn a small cut of whatever it sells for. This is something that is quite interesting because while playing the role of the marketplace while not actually being one, an aggregator can actually end up making a good bucket load of money. Confused? Let’s simplify that.
So a marketplace usually has a certain fee that they usually charge, this can be anywhere from a tiny tidbit of a percentage to a reasonably high gas fee. So when an aggregator takes over it becomes more different to be exact. The percentage that is being given to these massively popular and widely renowned companies is what the aggregator would get at a greatly reduced price, but still, it goes directly into his own pocket. With that being said even if she were to make say $100 off of a $10,000 transaction, that would still be a good deal because it goes directly to him and no other.
Advantages of being an aggregator in the NFT space
One stop for all-
This is basically the idea of making the NFTs easily accessible and this can be done by allowing NFTs from several different marketplaces to be accessed at one common point. This prevents the need for users to go and scourge the internet to find the NFTs that they desire. Apart from this, the Idea is to create a common medium where the gas fee is reduced and is reasonably lower as well.
More the merrier all at once-
So NFTs being purchased at an NFT marketplace have a certain fee that needs to be paid. If more than one purchase needs o be done it has to be made repetitively and the fees will be added to all purchases. However in the case of aggregators that is not the case. The NFTs can be purchased in bulk allowing the cost or fee to be greatly reduced for the buyer while also allowing the middleman to make a decent buck for himself.
With that being said, Aggregators allow the purchase of NFTs to be done at ease and in one go. They allow users to purchase a bulk of NFTs all in one o while at the same time allowing users to pay a lower gas fee than that which is being given in marketplaces. So considering all that one has to agree that NFT aggregators allow users much more comfort and flexibility when compared to the regular NFT marketplaces. With that, the following statement that aggregators are a boon can be justified without any sort of objection.