OpenSea Acquires Rally as It Continues to Pivot to Token Trading

Non-fungible token (NFT) trading platform OpenSea has acquired Rally, the company behind Rally wallet, as it continues its pivot into token trading.

Terms of the acquisition remain undisclosed.

According to a press release shared with CoinDesk, OpenSea’s chief technology officer Nadav Hollander will be handing over the role to Chris Maddern, Rally’s CEO. Rally co-founder Christine Hall will also join OpenSea as the company’s chief of staff.

OpenSea will use the acquisition to strengthen its trading platform, which has been operating across 17 blockchains since it went live to the public in May.

“The Rally team shares our vision of a more accessible and delightful onchain trading experience for everyone,” said Devin Finzer, co-founder and CEO of OpenSea. “We’re excited to bring their passion and expertise to OpenSea as we build the best place to discover, trade, and create onchain, with mobile at the forefront.”

Rally operates primarily as a crypto wallet, recently foraying into a mobile app that combines self custody with social features and multiple currencies.

OpenSea plans to integrate Rally’s wallet technology and mobile-first design into the platform as it moves towards becoming a fully-fledged trading platform.

“Joining OpenSea is a natural next step 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 more social to engage with digital assets, no matter where you are in your journey.”.

No further details were revealed about OpenSea’s native OS token, which was announced in February.