OpenSea CTO outlines token trading vision for moving beyond NFTs
2025-07-15 11:43:50
Main Idea
OpenSea is expanding beyond NFTs by acquiring Rally to create a multi-asset platform integrating tokens, NFTs, and DeFi, amid declining NFT trading volumes and increasing competition.
Key Points
1. OpenSea acquired Rally, a mobile-focused token trading platform, to expand its services beyond NFTs.
2. The new OpenSea mobile app will integrate NFTs, tokens, and DeFi, aiming to provide a comprehensive crypto experience.
3. OpenSea's market share in NFTs has declined to 37.93%, with competitors like Blur (34.22%) gaining ground.
4. NFT trading volumes have dropped for five consecutive quarters, with Q2 2025 volumes at $823 million, down 385% from Q2 2024.
5. OpenSea's strategic shift focuses on mobile users and multi-asset trading to adapt to market changes and competition.
Description
OpenSea’s strategic pivot comes as NFT volumes have declined in five straight quarters.
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