developing web3-native systems<\/strong> for engaging with and rewarding the community.<\/p>\nFollowing Hollander’s taker-over, OpenSea’s Co-Founder and current CTO, Alex Atallah<\/strong>, will enter an “externally facing role”<\/strong> where the exec will be supervising the platform’s web3 and NFT ecosystem development efforts.<\/strong> Atallah will assume the role of OpenSea’s representative<\/strong> for the recently unveiled NFT Security Group<\/strong>. He will also be tasked with steering the firm’s soon-to-be-announced community investment efforts<\/strong>, which centers around expanding the whole NFT ecosystem.<\/strong><\/p>\n<\/p>\n
While announcing the latest acquisition, OpenSea stated,<\/p>\n
“Our teams share a vision that NFTs will be the cultural focal point of crypto\u2019s adoption for years to come \u2014 and that vision can only be realized if using NFTs becomes easy & delightful for the average person. Ultimately, we believe this union will be a force multiplier for NFTs and web3 adoption and help us dramatically improve the experience of buying, minting, and selling NFTs on OpenSea \u2014 whether you\u2019re a beginner or a pro.”<\/em><\/p>\nAdditionally, the official report also said that OpenSea will be closing down Dharma’s app as part of the deal.<\/strong><\/p>\nBesides, the NFT platform hasn’t commented on the financial terms<\/strong> of the deal. However, Axios, which had earlier reported being in talks, said Dharma Labs has secured nearly $15 million in funding.\u00a0\u00a0<\/strong><\/p>\nOpenSea’s Venture Funding And Beyond<\/h2>\n
<\/p>\n
Interestingly, the acquisition comes weeks after OpenSea scored a $13.3 billion valuation<\/strong> in its latest in the Series C funding round. The funding round of $300 million investment was led by Paradigm and Coatue <\/strong>in a bid to position the NFT marketplace as one of the most valuable private firms in the cryptocurrency industry.<\/p>\nSilicon Valley’s one of the most-talked-about startups had previously secured more than $100 million<\/strong> from a host of investors. The then funding round saw investments poured in from Andreessen Horowitz and the Hollywood actor Ashton Kutcher.<\/p>\nOpenSea has witnessed record volumes so far in 2022,<\/strong> a trend that has continued since the NFT boom last year. The latest stats also pointed out that the platform has nabbed $3.8 billion in sales on Ethereum<\/strong> this month alone.<\/p>\n","protected":false},"excerpt":{"rendered":"NFT marketplace OpenSea has announced the acquisition of crypto wallet firm Dharma Labs.<\/p>\n","protected":false},"author":19,"featured_media":44490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,74,112],"tags":[5402],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/44456"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=44456"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/44456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/44490"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=44456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=44456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=44456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}