Rand Gallery, a major player in the world of Algorand blockchain-based NFT marketplaces, has just completed the acquisition of data aggregator NFT Explorer. With this purchase, they have gained control of the 'full NFT stack' and are now making moves to become the entry point for all forms of NFT - including music and games - and a strong Web3 partner for organisations looking to offer their consumers access to NFT.
Rand Gallery was bought last year by start-up company Distributed Finance, led by Ross Murray-Jones and Agash Navarajan. Navarajan is also credited for creating the DAO to invest in Algorand, and the entire deal was worth $2.5 million.
Rand Gallery declined to provide information on the agreement to buy NFT Explorer and said the amount paid was less than what they had spent in the previous year's deal.
Murray-Jones, executive director of Rand Gallery, said NFTX and Rand have a long and mutually beneficial relationship, sharing a third of each other's traffic. He added that this link will be further strengthened when they combine activities such as buying/selling on NFTX and the inclusion of scarcity and other analytical data on Rand.
These two platforms are predicted to become the leading network for NFT, which will make a crucial contribution to the development of Algorand.
