OpenSea has completed the acquisition of Rally to significantly expand its Token trading segment on the multi-chain Web3 platform.
This acquisition helps OpenSea develop the Wallet and Web3 application product line on mobile devices, while enhancing competitiveness in the Token trading field with support for 19 different Blockchains.
MAIN CONTENT
OpenSea officially takes over Rally, the developer of the wallet and mobile Web3 application.
Which company has OpenSea acquired and for what purpose?
OpenSea has acquired Rally, the developer of the wallet and Web3 application on the mobile platform. According to The Block (July 8, 2023), this event is part of the strategy to enhance Token payouts combined with multi-Blockchain technology, improving user experience.
OpenSea is the world's leading NFT and cryptocurrency platform, thus the direct integration of the Rally wallet helps them gain deeper control over the Token trading ecosystem while enhancing the integration of convenient features for mobile users.
What is Rally and its role in the cryptocurrency ecosystem?
Rally develops a specialized wallet and a utility Web3 application for mobile, helping users easily manage digital assets, participate in trading, and interact with DApps. This is a popular solution in the cryptocurrency ecosystem.
The acquisition of Rally reaffirms OpenSea's commitment to expanding Token utility services and enhancing multi-platform Web3 experience.
Sam Bankman-Fried, CEO of OpenSea, stated on July 8, 2023, The Block
How many Blockchains does OpenSea currently support for Token trading?
OpenSea is implementing Token trading services on 19 different Blockchains, including popular Layer 1 and Layer 2 scaling solutions, aligning with the rapidly developing multi-chain trend in the global cryptocurrency industry.
This diversity helps OpenSea reach multiple user segments, increasing liquidity and cross-chain interaction to expand the Token trading ecosystem.
What is the impact of the acquisition on the market and users?
Acquiring Rally helps OpenSea consolidate its leading position in the Token trading field and supports users in easily accessing wallet features and payments directly on mobile devices. This is a strategic move towards sustainable growth and countering competitors.
The expansion to support multi-chain through this merger will bring significant benefits to the global cryptocurrency community.
Alyssa Hertig, blockchain industry analyst, 2023
Comparison table of OpenSea's Token trading service expansion before and after acquiring Rally
Criteria Before Acquiring Rally After Acquiring Rally Supported Blockchain Range About 12 platforms Expanded to 19 platforms Mobile Web3 Application None or limited Integration of Rally's mobile Web3 application Wallet Features Basic Wallet Support Specialized Wallet, optimizing user experience
Frequently Asked Questions
What are the benefits of OpenSea acquiring Rally for users? It enhances the multi-chain Token trading experience and convenience on mobile devices, increases security, and features a professional Wallet. What is the significance of expanding to 19 Blockchains? It allows users to access various Token markets, increasing liquidity and diversifying investment options. What are the standout features of Rally's Web3 application? The application is optimized for mobile, supports digital asset management, and facilitates quick and secure Token trading. Does the acquisition of Rally affect the Token price of OpenSea? Generally, it is expected to increase competitiveness and potential value, but it still depends on many external market factors. Will OpenSea continue to expand by acquiring other companies? OpenSea's development strategy shows that they prioritize technology integration and multi-chain expansion to maintain their leading position.
Source: https://tintucbitcoin.com/opensea-thau-tom-rally-wallet-thuc-day-token/
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