OpenSea has announced its acquisition of Rally, a platform focused on mobile-first Web3 solutions, as part of its strategy to facilitate digital asset trading via mobile devices.
Key Takeaways:
With this acquisition, OpenSea aims to develop a mobile-native platform that enables the trading of NFTs and tokens.
The company envisions an “onchain everything app” that incorporates cross-chain and AI functionalities.
Its improved OS2 platform now accommodates 14 different blockchains, allowing users to make cross-chain NFT purchases.
This announcement, made on Tuesday, highlights OpenSea’s objective to create a mobile-centric platform where various onchain assets, including NFTs and tokens, can be traded in a unified experience.
As part of this transition, Rally’s co-founders, Chris Maddern and Christine Hall, will integrate into OpenSea’s leadership structure, with Maddern taking on the position of chief technology officer.
OpenSea Aims for ‘Onchain Everything App’ with Rally Acquisition
OpenSea believes Rally’s expertise in mobile token trading will significantly expedite its development goals centered around the “onchain everything app.”
The company has also alluded to a more extensive future product offering, extending past just NFTs. In a message posted on X, Maddern mentioned that the platform is engaged in creating solutions to enhance the onchain economy for creators, collectors, and traders alike.
Notably, Maddern stated that tokens should be seen as complementary to NFTs, indicating a vision for integration across diverse asset classes on the platform.
This acquisition is indicative of OpenSea’s emphasis on mobile technology, as Maddern pointed out that a majority of users prefer to navigate digital spaces on their mobile devices.
In addition to mobile features, OpenSea is contemplating the inclusion of artificial intelligence tools aimed at enhancing user safety and knowledge within the crypto space, though specifics surrounding AI implementation remain undisclosed.
OpenSea has acquired @rally_xyz
Buckle up. The future of NFT and token trading fits in your pocket. pic.twitter.com/9CMN8yv0yj
— OpenSea (@opensea) July 8, 2025
This acquisition comes on the heels of OpenSea’s introduction of its redesigned “OS2” platform in May, which enabled full support for fungible token transactions.
A significant enhancement of the OS2 is its support for 14 different blockchains, thus broadening OpenSea’s reach to various networks, including Flow, ApeChain, Sony’s Soneium BSL, and Berachain.
The integration of multiple chains enhances OpenSea’s functionality, providing users a wider array of blockchains for trading digital assets.
The new cross-chain purchase feature is also a notable element of the OS2 open beta, facilitating the buying and selling of NFTs across different blockchain networks.
OpenSea stated that this feature streamlines transactions across various blockchains, addressing the frequent challenges associated with multi-chain trading.
NFT Market Experiences Significant Decline
The NFT market has reached an 18-month low, with sales volume in Q2 2025 plummeting to $823 million— a stark decline from $4 billion during the same quarter last year, according to DappRadar.
This represents a 19% decrease from Q1 and marks the fifth consecutive quarterly decline, making 2025 the most challenging year for NFTs to date.
Factors such as diminishing retail interest, elevated Ethereum gas fees, and a reduction in media excitement have all contributed to the market’s ongoing slump.
Leading platforms, including OpenSea, LooksRare, and Blur, have reported decreased user traffic and trading activity, despite introducing various incentives.
The surrounding enthusiasm has waned, with numerous celebrity-endorsed initiatives from the last market cycle being dismissed as scams or fading into obscurity.
While former U.S. President Donald Trump’s ongoing NFT collections occasionally garner attention, they have failed to revive the prevailing downward momentum in the market.
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