OpenSea Acquires Rally to Build “On-Chain Everything App”

PROMINENT NFT MINTING AND TRADING PLATFORM Opensea has announced the acquisition of mobile token trading and NFT portfolio application Rally (previously known as Floor). This strategic move aims to establish a unified “on-chain everything app,” consolidating Web3 functionalities for users.

Key Acquisition Details

The deal marks OpenSea’s intent to fully pivot towards the mobile-using demographic. A comprehensive redesign of its mobile experience, internally codenamed “Stuff,” is projected to launch during the fourth quarter of 2025.

Leadership Transition

Rally co-founders Chris Maddern and Christine Hall are set to join OpenSea as senior executives.
* Chris Maddern will assume the role of Chief Technology Officer.
* Christine Hall will become OpenSea’s Chief of Staff.

The specifics of the financial agreement have not been disclosed by OpenSea.

OpenSea’s Evolution

OpenSea, a dominant force in the NFT marketplace from 2021-2022 (then capturing significant trading volume), is currently undergoing a significant transformation.

While NFT volume has decreased considerably since the market peak, OpenSea is actively diversifying through:
* Unveiling its OS2 platform with fungible token trading capabilities.
* Announcing support for its native SEA token, derived from the OpenSea Foundation.

This acquisition strengthens OpenSea’s mobile reach, complementing the new vision while maintaining continuity.

Quotes

​​OpenSea today has hundreds of thousands of active NFT traders with connected wallets who trust OpenSea as their portal to Web3, [said co-founder Chris] Maddern told Decrypt. [We will] grow ourrelationship with these users to expand[their] activities on OpenSea.”

“We’re reimagining mobile from the ground up to create a product that brings tokens and NFTs together in a magical way—a single home for on-chain crypto…While our volume will grow more quickly on desktop, [OpenSea expects] mobile will massively outpace desktop for consumer growth,” added Christine Hall.

Context: Rally/Formerly Floor

Rally, which originated as an NFT portfolio tracker mobile application, rebranded from Floor in 2024 following substantial expansion into token trading activities.
* Floor raised $8 million funding in June 2022.
* Its acquisition by OpenSea comes as OpenSea seeks to streamline the user journey and solidify its position in the mobile-first Web3 landscape.

Users are currently advised to continue utilizing the existing Rallly app, with access to the enhanced OpenSea mobile experience planned for launch later in the year.

Background:

Noting that OpenSea had recently regained leadership in Ethereum NFT trading market share according to Tiexo data, the company also references ongoing regulatory developments. A previously lengthy SEC investigation into NFT marketplaces, which OpenSea stated ended in February, contributes to a more favorable climate for its operations.

In brief: OpenSea acquires mobile token/NFT app Rally (formerly Floor) to build “on-chain everything app,” with new mobile launch expected Q4 2025.

Published December 10, 2024