Crypto trading platform OpenSea is broadening its scope beyond non-fungible tokens (NFTs) through the acquisition of mobile-focused token trading platform Rally. This strategic move comes amid declining NFT trading volumes and increasing market competition, prompting OpenSea to enhance its mobile capabilities and expand into token trading.

On July 8, OpenSea announced the acquisition of Rally, aiming to develop a more robust mobile experience and bolster its token trading infrastructure. The platform outlined plans to build an “onchain everything app,” positioning it to offer users an integrated suite of services, including NFTs, tokens, and decentralized finance (DeFi).

Unifying Crypto Capabilities

Rally co-founder Chris Maddern, who has transitioned to the role of OpenSea’s Chief Technology Officer, shared his vision with Cointelegraph. He stated that the acquisition seeks to consolidate the “best of crypto,” providing users with a unified platform to access diverse opportunities, assets, and cultural experiences.

“Consumers are ready to do more with their crypto. They’ll come onchain to access the broad array of opportunities, assets and cultural experiences available there,” Maddern told Cointelegraph.

Maddern described the new vision as a central hub for the crypto community, embedding NFTs, tokens, and DeFi functionalities into a single application. He emphasized, “When you think about doing more with your crypto than just hodling it, you’ll open the OpenSea app.” Rally’s technical foundation, developed by experts in cross-assets and multi-wallet portfolios, is expected to form the backbone of this new mobile strategy.

Furthermore, Maddern confirmed the integration of artificial intelligence in the upcoming application, highlighting its role in enhancing user safety, refining discovery features within the app, and providing educational content.

Pivoting Amid Market Shifts

OpenSea’s executive move coincides with a challenging period for the NFT market. Despite maintaining its position as the leading NFT marketplace, OpenSea faces intensified competition and significantly reduced trading volumes.

Data indicates that OpenSea’s market share was 37.93%, closely followed by Blur at 34.22%. The emergence of platforms like Magic Eden, OKX NFT, and Rarible has further fragmented the market, contributing to declining NFT trading volumes.

DappRadar recently reported NFT trading volumes declined significantly year-over-year, with Q2 2025 volumes of approximately $823 million versus $4 billion in Q2 2024. However, despite reduced values, participation increased. Industry leaders suggest this reflects the market’s maturation, shifting focus from hype-driven sales toward utility-based and community-driven transactions.

Strategic Shift for OpenSea

OpenSea’s apparent pivot towards tokens, DeFi, and mobile accessibility underscores its ambition to capture a broader segment of the crypto economy, beyond the current dominance of NFTs.

Lennix Lai, OKX’s chief commercial officer, commented on the market decline, stating it signifies sector maturity and a transition towards more sustainable models. He observes the market becoming “more active, inclusive and utility-focused.”