OpenSea is expanding its business beyond NFTs by acquiring the mobile Token trading platform Rally to develop a multi-asset on-chain ecosystem.
The combination of OpenSea and Rally aims to create a fully functional application that integrates NFT, Token, and DeFi on mobile while using AI to enhance user experience and security.
MAIN CONTENT
OpenSea acquires Rally to expand its mobile Token business and integrate on-chain products.
The new application combines NFT, Token, and DeFi, creating a diverse ecosystem for users.
AI is integrated to enhance security and user experience on the platform.
How is OpenSea expanding its operations after the NFT market shrinks?
OpenSea, the largest cryptocurrency trading platform for NFTs, has quickly adapted by integrating mobile Token products. The acquisition of Rally is a strategic move to enhance competitiveness as the NFT market shrinks while expanding services on the blockchain.
Chris Maddern, co-founder of Rally and now CTO of OpenSea, shared that by merging top resources, they will provide a one-stop service to help users access diverse assets and experience new cultures through on-chain applications.
The merger of Rally with OpenSea not only strengthens Token power but also expands the range of experiences on the blockchain, bringing users closer to diverse and more useful digital values.
Chris Maddern, CTO of OpenSea, July 8, 2024
What are the main features of OpenSea's new application?
Based on the integration experience of the Rally team, the upcoming OpenSea mobile application integrates many features including NFT, Token, and DeFi, creating a comprehensive on-chain multi-asset platform. Users can easily access and manage various digital assets in a single application.
In addition, integrating artificial intelligence (AI) helps optimize the exploration feature, enhance security, and support learning for users to improve safety and efficiency in transactions.
What does the combination of OpenSea and Rally mean for the cryptocurrency market?
This merger reflects the trend of developing more integrated ecosystems in the cryptocurrency field as the NFT segment faces many challenges. Fully integrating Token and DeFi features on the same platform helps attract and retain users while increasing the scalability of interactions.
At the same time, the use of AI in security and user experience is also a step forward that aligns with modern technology trends, paving the way for the sustainable development of the industry.
The development of a multifunctional mobile application will help enhance user experience while expanding the Token and NFT ecosystem, making the cryptocurrency market develop more synchronously and sustainably.
CEO of OpenSea, July 2024
What are the advantages of integrating NFT, Token, and DeFi on the OpenSea platform?
The parallel integration of NFT, Token, and DeFi helps create a strong ecosystem with diverse products, attracting investors and users with various purposes. This provides liquidity and a seamless trading experience on the same platform.
According to Chris Maddern, all utilities from buying, trading to Staking will be integrated, creating a synergistic effect for the ecosystem and promoting the development of digital asset value in a long-term and sustainable direction.
How are AI applications implemented by OpenSea to support users?
The AI application on the new platform helps users improve their safety level when trading, increases intuitiveness in searching and exploring new features, while also supporting educational situations in the cryptocurrency ecosystem.
In this way, OpenSea not only enhances user experience but also helps mitigate security risks, creating trust and attracting new users.
Frequently Asked Questions
What is OpenSea? OpenSea is currently the largest cryptocurrency trading platform specializing in NFTs, which has just expanded into mobile Tokens.
What role does Rally play in this acquisition? Rally is a mobile Token trading platform that contributes to the development of OpenSea's multi-asset application.
What makes OpenSea's new application different? The application integrates NFT, Token, and DeFi with AI technology to enhance user experience and security.
How is AI used in OpenSea? AI supports users in security, exploring features, and learning on the blockchain platform.
Why is OpenSea shifting to expand after the NFT market shrinks? To adapt competitively, diversify products, and expand a more sustainable ecosystem.
Source: https://tintucbitcoin.com/opensea-tich-hop-nft-token-defi/
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