2 years ago
Non-fungible token (NFT) marketplace OpenSea has confirmed the acquisition of crypto wallet steadfast Dharma Labs, the institution announced Tuesday.
The acquisition, archetypal reported arsenic successful the works by Axios connected Jan. 4, comes conscionable weeks aft OpenSea received a $13.3 cardinal valuation from its latest backing round.
As portion of the deal, Dharma co-founder Nadav Hollander volition go OpenSea’s newest main exertion officer. Co-founder Alex Atallah had antecedently been successful the CTO role.
“Devin [Finzer], Alex and the full OpenSea squad person shown unthinkable tenacity and grit implicit the past 4 years successful taking their archetypal thought for an NFT speech to wherever it is today,” Hollander said successful a statement. “I’m excited to absorption connected scaling OpenSea’s tech to conscionable the reliability, performance, and uptime benchmarks its users expect and deserve.”
Just similar Dharma, OpenSea serves assets connected the Ethereum mainnet and Polygon’s Matic network, possibly explaining wherefore the steadfast was an acquisition fit.
The imaginativeness to beryllium the "Robinhood of DeFi" ends now, however. Hollander said the app would beryllium sunsetted successful a substance of weeks.
OpenSea, which launched successful 2017 arsenic an eBay for NFTs, has already seen record-breaking income measurement to commencement disconnected January, and is connected gait to interruption its $3.4 cardinal monthly precocious acceptable successful August.
Eli is simply a quality newsman for CoinDesk. He owns BTC, ETH and SOL.
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