OpenSea Plans to Launch an All-in-One On-Chain Platform Integrating NFTs, Tokens, and DeFi

According to ChainCatcher, citing a report from Cointelegraph, as trading volumes for digital collectibles continue to decline and competition intensifies, crypto trading platform OpenSea is expanding its business beyond the NFT sector.

OpenSea previously announced the acquisition of Rally, a mobile-focused token trading platform, aiming to strengthen its presence on mobile devices and enhance its token trading capabilities. OpenSea stated that it plans to build an “all-in-one on-chain application” in the future, offering users a brand-new experience.

Chris Maddern, Rally co-founder and current Chief Technology Officer at OpenSea, said this move will integrate “the best resources in the crypto space,” bringing everything together on a single platform. The vision for this new mobile NFT platform is to create a “one-stop” app for members of the crypto community, where users can find everything they need. The app will integrate NFT, token, and decentralized finance (DeFi) functionalities.