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.
Latest News
- Uniswap President Mary-Catherine Lader steps down after 4 years2025-07-15 22:02:12
- Ether holding $3K opens door to 1,100% ‘vertical phase’ rally: Analyst2025-07-15 21:09:25
- Prosecutors link Roman Storm to DPRK hackers in trial opening statements2025-07-15 21:07:32
- Legacy finance discovers stablecoins as JPMorgan, Citigroup consider market entry2025-07-15 20:35:50
- Bitcoin dips as June CPI confirms sticky inflation trend: Are BTC dips for buying?2025-07-15 20:03:12