OpenSea Acquires Rally as It Continues to Pivot to Token Trading

Non-fungible token (NFT) trading level OpenSea has acquired Rally, the institution down Rally wallet, arsenic it continues its pivot into token trading.

Terms of the acquisition stay undisclosed.

According to a property merchandise shared with CoinDesk, OpenSea's main exertion serviceman Nadav Hollander volition beryllium handing implicit the relation to Chris Maddern, Rally's CEO. Rally co-founder Christine Hall volition besides articulation OpenSea arsenic the company's main of staff.

OpenSea volition usage the acquisition to fortify its trading platform, which has been operating crossed 17 blockchains since it went unrecorded to the public successful May.

“The Rally squad shares our imaginativeness of a much accessible and delightful onchain trading acquisition for everyone,” said Devin Finzer, co-founder and CEO of OpenSea. “We’re excited to bring their passionateness and expertise to OpenSea arsenic we physique the champion spot to discover, trade, and make onchain, with mobile astatine the forefront.”

Rally operates chiefly arsenic a crypto wallet, precocious foraying into a mobile app that combines aforesaid custody with societal features and aggregate currencies.

OpenSea plans to integrate Rally’s wallet exertion and mobile-first plan into the level arsenic it moves towards becoming a fully-fledged trading platform.

“Joining OpenSea is simply a earthy adjacent measurement for Rally’s mission,” said Chris Maddern, incoming CTO of OpenSea. “Together, we’ll accelerate the adoption of web3 by making it easier, safer, and much societal to prosecute with integer assets, nary substance wherever you are successful your journey.”.

No further details were revealed astir OpenSea's autochthonal OS token, which was announced successful February.