Original title: "How to sweep NFT floors》

Original Author: William M. Peaster, Bankless

Original compilation: TechFlow

Original title: "

Original Author: William M. Peaster, Bankless

Original compilation: TechFlow

Dear Bankless Nation,

The trading experience of NFT is still in its early days.

There is one flaw: OpenSea and LooksRare only allow you to buy one NFT at a time.

So if you're interested in buying multiple of the cheapest NFTs from a collection, the so-called floor sweeping, you'll have to perform a bunch of transactions.

You want 10 NFTs? That's 10 transactions.

On Ethereum, this can get expensive - really expensive.Is there a better way?

Of course there is.

NFT aggregators are a new product emerging from the recent NFT craze.

Gem and Genie are the two leading platforms right now.

Oh....they haven't launched a token yet (just saying).

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How to Sweep NFT Floors

image description

Photo courtesy Logan CraigOnly one NFT can be purchased at a time through one platform, which is inefficient and has a bad user experience. As a result, a new class of apps — NFT marketplace aggregators — are making it easy to make bulk purchases across multiple NFT marketplaces at once.

This Bankless strategy will show you how to use Genie and Gem, which are the leading aggregators in the market today.1) Goal:

Learn how to use Genie and Gem2) Skill Difficulty:

Simple30 minutes

4) return:

Efficient NFT purchase method + potential future airdrops

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Sweeping the NFT floor with Genie and Gem

OpenSea has been the dominant hub of NFT trading activity since the project launched its beta market in December 2017.

Although OpenSea has done a lot to promote and support the NFT ecosystem, its early monopoly and user experience have defined the NFT transaction experience.One of the main problems with OpenSea is that it limits users to buying one NFT at a time. Following this model, to “sweep” 10 units from a cool NFT item’s floor price (i.e. the NFT with the lowest price in any given time period), you would have to make 10 separate purchase transactions, asset by asset.

What is the problem with this way?

It is gas expensive since you have to execute multiple transactions.

Ideally, people should be able to buy multiple NFTs at once and save as much gas as possible. Even more ideally, people should be able to buy multiple NFTs on multiple platforms at once, as liquidity is now starting to spread to other marketplaces such as Rarible, NFT20, NFTX, and LooksRare.

Let's go over the basics of them and show you how to use them

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Introduction to Genie Basics

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Photo courtesy of Genie

Genie Swap is the platform’s flagship market aggregation service; notably, it lets users swap combinations of ETH and NFTs (with liquidity pools available on NFTX and NFT20) for other NFTs, using various optimizations to reduce gas cost.

As for Genie List, the service lets users list their NFTs simultaneously on multiple marketplaces (OpenSea and Rarible are currently supported) to reach the largest possible audience of potential buyers.

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How to use Genie to sweep NFT floors

image descriptionwww.genie.xyzGenie's mefers multiple choice

1) Pick an item that you are interested in buying multiple NFTs for.

2) enter

, connect your wallet.

4) Search and click on the NFT you want to buy in the collection. When you're ready, click "Select # Tokens".

6) When you're done, click "Review Order", and if everything looks good (you may need to click "Update" here if one of your target NFTs sold before you bought it), then click "Place Order". Use your wallet to complete the purchase, and the batch of NFTs is yours.

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Introduction to GEM Basics

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Photo courtesy of GEM

As a "Web3 shopping cart", Gem sources liquidity from top NFT marketplaces, offering users up to 39% gas savings compared to related underlying platforms.

Currently, the project is working on supporting batch listing of NFTs and integrating with LooksRare’s liquidity. In the meantime, don't overlook how useful Gem's new rarity ranking feature and collection analytics can be for collectors.

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How to Sweep NFT Floors with Gems

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We all love Doodles

1) Go to www.gem.xyz and connect your wallet.

2) Use the search bar provided by the website to find the collection you are interested in.

5) Now choose your payment token. Options will be displayed based on the tokens currently available in your wallet.

in conclusion

6) Click "Proceed to Checkout" again and review your order. If it looks ok, click "Place order" to confirm the purchase with your wallet. After the transaction is completed, the NFT is yours!

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in conclusion

NFT marketplace aggregators like Genie and Gem have greatly improved the NFT buying experience, making it easy to pick and buy multiple NFTs in one gas-saving transaction.

As a result, these aggregators have seen massive pooling of users and trading volumes in recent weeks.