OpenSea has acquired Rally, a mobile-first Web3 platform, in a move aimed at expanding digital asset trading to mobile devices.
Key Takeaways:
OpenSea has acquired Rally to build a mobile-native platform for NFT and token trading. The company aims to create an “onchain everything app” with cross-chain and AI features. Its upgraded OS2 platform now supports 14 blockchains and enables cross-chain NFT purchases.The deal, announced Tuesday, underscores OpenSea’s intent to build a mobile-native platform where NFTs, tokens, and other onchain assets can be traded in one seamless experience.
Rally co-founders Chris Maddern and Christine Hall will join OpenSea’s leadership team, with Maddern stepping into the role of chief technology officer.
OpenSea Taps Rally to Build ‘Onchain Everything App’
The company says Rally’s mobile token trading expertise will help accelerate its roadmap toward creating an “onchain everything app.”
OpenSea hinted at a broader product vision that goes beyond NFTs. In a post on X, Maddern said the platform is working on a product designed to grow the onchain economy for creators, collectors, and traders.
He emphasized that tokens should complement, not compete with, NFTs, signaling an integrated approach to asset classes across the platform.
The acquisition also reflects OpenSea’s focus on mobile, where Maddern noted most users now spend their time.
As part of the platform’s strategy, OpenSea is exploring artificial intelligence features aimed at improving user safety and understanding in crypto, though specific AI integration details have yet to be disclosed.
The move follows OpenSea’s May rollout of its revamped “OS2” platform, which introduced full support for fungible token trading.
A key upgrade in OS2 is support for 14 blockchains, expanding OpenSea’s reach to networks like Flow, ApeChain, Sony’s Soneium BSL, and Berachain.
The multi-chain integration expands OpenSea’s capabilities, offering users a broader selection of blockchains for digital asset trading.
Cross-chain purchase functionality is another key feature of the OS2 open beta version, allowing users to buy and sell NFTs across different blockchains.
OpenSea stated this feature simplifies transactions across different blockchains, addressing common challenges in multi-chain trading.
NFT Market Hits 18-Month Low as Interest and Activity Collapse
The NFT market has slumped to its lowest point in 18 months, with Q2 2025 sales volume falling to $823 million, down sharply from $4 billion a year earlier, according to DappRadar.
This marks a 19% drop from Q1 and the fifth consecutive quarterly decline, making 2025 the worst-performing year for NFTs on record.
Waning retail interest, high Ethereum gas fees, and fading media hype have contributed to the ongoing downturn.
Even prominent collections like Bored Ape Yacht Club and newer projects are struggling to hold value, with many early backers now holding nearly worthless assets.
Major platforms such as OpenSea, LooksRare, and Blur have all seen reduced traffic and trading activity, despite offering incentives.
Public enthusiasm has dimmed, and many celebrity-endorsed projects from the last cycle have vanished or been labeled scams.
While former U.S. President Donald Trump continues to launch NFT collections that briefly grab attention, even his efforts haven’t reversed the market’s downward trend.
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