I am very pleased to announce that OpenSea has acquired Rally! 🎉
The Rally team brings deep expertise in mobile and token trading to OpenSea, and my co-founder Christine Hall and I will join the leadership team, where I will serve as CTO as we launch... The Rally app will bring a whole new experience to OpenSea mobile! 🔥
Starting today, we will begin building a product that we believe will become synonymous with 'on-chain' for hundreds of millions of people, and will develop the on-chain economy for creators, collectors, and traders.
For the Rally team, this is not just an acquisition - it is an extension of the mission we set out in 2021: to bring on-chain assets, culture, and ownership to real people, not just early adopters.
At OpenSea, we have no other place where we can expand this mission like we can here, and I can't wait to show you our work!
The new era of OpenSea
OpenSea is at a fantastic opportunity moment, as they (we!) are one of the few companies with the team, brand, resources, and vision to build a home for all web3 developers.
Here, anyone can do more with their cryptocurrency, not just 'hodl'.
This is one of the biggest opportunities in the new chapter of cryptocurrency (transitioning from CEX to on-chain), and there is still much work to be done, seizing this opportunity requires:
Create the first platform where tokens and NFTs complement rather than compete with each other;
Take mobile devices seriously - users spend most of their time on mobile devices;
Make DeFi and perps simple and easy to use;
Embrace AI to make cryptocurrency safer and easier to understand.
And... expand the on-chain audience, not just compete for market share.
In the next 12 months, we will accomplish all of this and more. I can't wait to work alongside the amazing OpenSea team and every member of the OpenSea community to build a truly great product.
Incredible Rally community
Thank you for standing by us every step of this journey, for trusting us every day, and for allowing us to be your home for web3 on your phone.
Your feedback, your thoughts, your kind words (and sometimes your patience!) have been continuous, and without you, we simply couldn't succeed.
Looking ahead, we can all bring our collective thoughts and feedback to a larger stage! 🎉
Your Rally app will continue to work as it does now, and there will be a migration path when the time is right...
OpenSea Mobile
The next generation of on-chain consumers will be mobile-first.
By acquiring Rally, along with OpenSea's leading NFT position, we now have the tools to create the best integrated mobile experience today, as well as an ambitious vision for the goals we want to achieve in the future.
We explore and discover through our phones, friends introduce us to new things through our phones, and the phone is something that is with us every moment (literally).
Web3 has ignored the mobile space for too long.
A brand new OpenSea Mobile experience will arrive in 2025 and will be the best home for cryptocurrency on your phone.
All assets are concentrated in one place
It's not about 'tokens or NFTs', it's about 'tokens and NFTs'.
NFTs are the original product of on-chain culture, but by 2025, they will be far from the only examples, as meme coins are thriving, representing a significant step towards directly (and interchangeably) tokenizing attention.
While most cryptocurrency products see meme coins as an asset with price, OpenSea sees dollars not just as currency, but also accommodates memes and movements, and we will unlock the unique possibilities created by combining NFTs with tokens, bringing opportunities for collectors, creators, and traders.
The team has been working towards this goal for some time, and I am thrilled to have the opportunity to fight alongside us to make OpenSea the go-to choice for everything on-chain.
Do more with cryptocurrency
We are at a critical moment for cryptocurrency adoption, with over 500 million people owning cryptocurrency, but the vast majority of it is purely speculative, stored in centralized exchanges controlled by companies where you can buy, sell, or hold.
These 500 million people will be eager to do more with their cryptocurrency, own it on-chain, and explore the rich new internet being built and the opportunities it brings, while traditional financial giants are putting more assets (like stocks!) on-chain, joining the existing native assets.
Solving these problems for users means tackling some of the toughest and most interesting technical challenges in the industry. The unique strength of the OpenSea team lies in its ability to meet these challenges.
Your money needs to 'work normally', and the chains need to magically connect with each other;
Participating in Staking and DeFi should be as simple as transferring money to a savings account;
NFTs as a category need to be broken down - digital art, memberships, and LP positions are clearly different things that need different experiences;
Once you own digital assets, you can unlock value through lending and other means with just a few clicks.
For everything on this list, we need products to do the hard work, so you don't have to!
OpenSea is better positioned than almost any company in the world to help users transition from centralized exchanges, empowering them to own their cryptocurrency and do more with it. There's still a lot of work to do, and you'll hear more about this in the near future.
Floor Genesis holders
Floor Genesis NFT is the original way to access the first Beta version of 'Floor' (before we rebranded), and the holders of the Genesis NFT have always been our long-term supporters.🙏
Genesis NFT will redeem tiered treasures on OpenSea!👑
Treasures are a very special component of the OpenSea rewards program, designed to honor users who made significant contributions in OS2 (such as early Beta users, active users, etc.). Therefore, treasures are an excellent way to recognize Floor Genesis holders as our first community members and involve them in the future development of OpenSea!
A snapshot was taken this morning, and in the coming weeks, all holders will be able to claim Treasures on the OpenSea Rewards portal.
A letter to my predecessor Nadav
After serving as CTO leading the team for three years, Nadav Hollander is about to leave to start up again.
Nadav transformed OpenSea from a 'fast-growing, hard-to-sustain' rudimentary website into a tech giant and recruited and trained a team that any leader would be incredibly proud of.
On behalf of the team and the entire industry, I thank you for everything you have done for OpenSea today, and for enabling us to prepare for future developments. We can't wait to see your next amazing performance!
Thank you
In this article, we may not be able to write enough 'thank yous', but if I don't write a few, I would be very rude.
Thanks to our most active and outspoken users, who have helped shape the product over the years - your feedback is invaluable, and I hope we can continue to earn your support as we build together on a larger stage at OpenSea.
Thanks to the Rally team for tirelessly pursuing the creation of the best mobile product, enduring the bear market, navigating tough times, leading market transformations time and again, and reshaping the product. You are amazing!
Lastly, thanks to Devin Finzer, Nadav Hollander, Adam Hollander, Jalagar, and the entire OpenSea team for their trust in us and for treating us as their own, being able to experience this product that we have loved and used for years and witness its exquisite craftsmanship is truly inspiring.
We have found a new home and are proud to be part of the crew.
Set sail! ⛵️
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