OpenSea Expands its Horizons: Embracing Tokens and Mobile Platforms

OpenSea, a number one name within the crypto trading world, is venturing beyond its traditional deal with non-fungible tokens (NFTs). This move comes because the industry grapples with a noticeable dip in digital collectible trading volumes, spurred by rising competition in the sector.

OpenSea’s Bold Move: Acquiring Rally for Mobile Expansion

On July 8, OpenSea made headlines by announcing its acquisition of Rally, a platform renowned for its mobile token trading prowess. This strategic move goals to bolster OpenSea’s presence on mobile devices and refine its token trading skills. The company plans to develop an “onchain everything app,” promising users a fresh and comprehensive experience.

Chris Maddern, Rally’s co-founder and now OpenSea’s chief technology officer, told Cointelegraph that this integration is about to unify “the best of crypto” under one roof. “Consumers are eager to explore more with their crypto holdings. They’ll go onchain to tap into the myriad of opportunities, assets, and cultural experiences available,” Maddern shared with Cointelegraph.

Envisioning the Future: OpenSea’s New Platform Vision

In a conversation with Cointelegraph, Maddern elaborated on the ambitious vision for the revamped mobile-focused NFT platform. He described it as a one-stop destination for crypto enthusiasts, where NFTs, tokens, and decentralized finance (DeFi) come together seamlessly. “In essence, when you think of doing more with your crypto than just holding onto it, you’ll be reaching for the OpenSea app,” he remarked.

As for Rally’s contribution, Maddern emphasized that it lays the groundwork for OpenSea’s latest mobile experience. With its extensive expertise in cross-assets and multi-wallet portfolios, Rally’s team is predicted to significantly enhance OpenSea’s latest app offering.

“By merging Rally’s mobile token-trading capabilities with OpenSea’s deep knowledge and expertise in NFTs, we can create a vibrant multi-asset ecosystem where tokens and NFTs coexist and flourish,” Maddern explained to Cointelegraph.

Adding a futuristic twist, Maddern noted that the upcoming app may even feature artificial intelligence integrations. When queried in regards to the role of AI, he mentioned it can assist users in ensuring safety, enhancing their discovery journey inside the app, and even serve educational purposes.

OpenSea’s Strategic Shift: Adapting to a Changing Market

While OpenSea continues to reign as the highest NFT marketplace, it has lost its once-uncontested dominance in digital collectibles. According to data from NFTScan, competitors are rapidly closing in.

Over the past yr, OpenSea held a market share of 37.93%, with its closest competitor, Blur, trailing just behind at 34.22%. The rise of other players like Magic Eden, OKX NFT, and Rarible has intensified competition, fragmenting the NFT market as trading volumes decline.

OpenSea’s pivot towards tokens, DeFi, and mobile accessibility is timely, as NFT trading volumes have steadily decreased over the past five quarters. On July 3, DappRadar reported a persistent drop in trading volumes because the second quarter of 2024.

In the second quarter of 2025, trading volumes fell to $823 million, marking a dramatic 385% decline from the $4 billion recorded within the second quarter of 2024.

OKX’s chief business officer, Lennix Lai, told Cointelegraph that this downturn reflects the sector’s maturation. He noted that the emphasis is shifting from hype-driven sales to utility-based and community-driven transactions.

Interestingly, while the worth of transactions declined in Q1 2025, the variety of sales actually rose. Lai observed that buyers remain keen to interact with NFTs, even when the worth of transactions has decreased. “I believe that NFTs are more than just digital collectibles,” Lai commented to Cointelegraph. “The market might be quieter in high-value trades, but it is becoming more dynamic, inclusive, and utility-focused.”

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Image Credit: cointelegraph.com