Wednesday, September 27, 2023
HomeOpenseaNFT Marketplace OpenSea Buys Ethereum Wallet Maker Dharma Labs

NFT Marketplace OpenSea Buys Ethereum Wallet Maker Dharma Labs

NFT Marketplace OpenSea buys Ethereum wallet Company Dharma Lab. Devin Finzer, CEO and co-founder of OpenSea, said today statement We have confirmed that this acquisition will grow the market in 2022 and improve the “technical reliability” of products that are currently apt to stop.

Nadav Hollander, co-founder and CEO of Dharma Labs, will be the new Chief Technology Officer of OpenSea.Dharma Lab is the company behind Dharma Ethereum A wallet that allows users to borrow and lend digital assets.

It’s not yet clear how much OpenSea will spend to buy Dharma. Axios report Earlier this month, the deal will fall in the range of $ 110 million to $ 130 million.

“Dharma’s team is one of the most talented and respected consumer crypto teams in the world,” Finzer said in a statement.

“Our team shares a vision that NFTs will be the cultural focus of crypto adoption over the next few years, which has made using NFTs easy and enjoyable for the average person. It can only be achieved if, “he added.

Finzer also builds Hollander’s priorities at OpenSea: “improving product technical reliability and uptime” and “a Web3 native mechanism for engaging and rewarding early loyal communities.” Said to do.

OpenSea is the largest market for NFTs. token.. Earlier this month important At $ 13.3 billion.

And the monthly trading volume of the website is now as high as $ 3.5 billion.

This is because interest in NFTs continues to grow. Digital tokens for NFTs, art, video clips, music, whatever Blockchain The network (usually Ethereum) takes off among art collectors, Especially popular with celebrities..

Dharma Lab Said In another statement, the app will shut down in the next 30 days and users will need to empty their wallet by February 18.

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