Industry-leading NFT marketplace OpenSea has announced that bought Dharma Labs, a crypto wallet and payments provider
Partnership
OpenSea has announced the acquisition of Dharma Labs for an undisclosed sum. Following its most recent fundraising round, the world’s largest NFT marketplace was recently valued at $13.3 billion. The agreement would enable the 2017-founded company “dramatically improve the experience of purchasing, minting, and selling NFTs” on its platform.
OpenSea has reached an all-time high of $3.5 billion in monthly Ethereum transaction volume. Despite the fact that the month’s end is still two weeks away, the Non-Fungible Token (NFT) market has seen massive growth as a result of the current NFT fever. OpenSea had reached its previous all-time high in August 2021, according to Dune Analytics data, before gradually declining until the end of the year.
OpenSea doubling down on our contribution to Web3’s spirit of open, community-led, and permissionless innovation. Project is thrilled to announce that Alex Atallah, co-founder of OpenSea and current CTO, will take on a new, externally visible role overseeing our Web3 and NFT ecosystem development activities. He’ll represent OpenSea in the recently formed NFT Security Group, and he’ll be in charge of our soon-to-be-announced community investment activities aimed at expanding the whole NFT ecosystem.
Quotes
“The team at Dharma is among the most talented and respected consumer crypto teams in the world, having built beloved experiences for seamlessly onboarding fiat currency to blockchains,” said co-founder and CEO of OpenSea Devin Finzer via blog post. “Our teams share a vision that NFTs will be the cultural focal point of crypto’s adoption for years to come — and that vision can only be realized if using NFTs becomes easy & delightful for the average person.
“This is going to be no small feat,” said OpenSea’s new CTO Nadav Hollande via Twitter. “If we do our jobs right, some awesome books are going to be written about what this company was like at this time.”
