The leading NFT marketplace, OpenSea, has announced a new acquisition that will enable it to provide a mobile experience for users. According to an X report by the company’s Chief Technology Officer (CTO), Chris Maddern, the NFT platform has purchased the Web3 wallet app Rally.
Rally will utilize its expertise in mobile and token trading to help OpenSea develop a mobile app. Maddern is Rally’s co-founder and has joined OpenSea as its CTO. The other co-founder, Christine Hall, will also be joining OpenSea’s leadership.
OpenSea and Rally will join forces to build a product that will expand the on-chain economy for creators, collectors, and traders. The aim is to increase the adoption of on-chain assets and culture beyond early adopters and into the hands of real people. OpenSea aims to ensure that the next generation of on-chain consumers is mobile-first.
The upcoming mobile app will focus on both tokens and NFTs, not just one or the other. OpenSea intends to create a platform where tokens and NFTs do not compete, but complement each other. The process for achieving this goal entails making decentralized finance (DeFi) simple and accessible. Developers will also utilize artificial intelligence to enable users to easily understand the crypto space.
“While most products in crypto treat memecoins as simply an asset with a price, OpenSea will be a home for both the memes & the movements, not just the dollars,” Maddern stated.
Another primary reason for providing a mobile experience is to migrate users from centralized exchanges to on-chain platforms. OpenSea claims the industry has ignored the Web3 space for so long, and that needs to stop. The mobile app will be an all-in-one platform, featuring interconnected chains, staking capabilities, NFT experiences, and DeFi primitives such as lending.
Maddern noted that the Rally app will continue to work as it does until developers provide a migration path to OpenSea’s new platform. This could take between five and twelve months, as OpenSea intends to launch in 2025, while continuing to develop the product for at least a year.
Meanwhile, OpenSea is offering rewards to commemorate the latest development. The company will give tiered OpenSea treasures to users holding Floor Genesis NFTs. The rewards will recognize users who have made meaningful contributions and supported the platform for an extended period. The company took a snapshot on July 8 and will make the treasuries available in the coming weeks.
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