Is NFT Hype Set to Return? OpenSea Acquires Mobile Token App Rally to Build a Web3 ‘WeChat’ for NFTs and Crypto Trading

OpenSea Moves To Mobile With Rally Acquisition As NFT Market Struggles

OpenSea has acquired Rally, a mobile-first Web3 platform previously known as Floor, as part of a broader push to unify token and NFT trading into a seamless mobile experience.

The deal, confirmed on 8 July, reflects the marketplace’s effort to adapt to changing user behaviour and shift focus towards onchain services beyond NFTs.

Rally’s co-founders Chris Maddern and Christine Hall will join OpenSea’s leadership team.

Maddern, who now serves as OpenSea’s Chief Technology Officer, said the goal is to create “a single home for on-chain crypto on your phone.”

Hall, formerly COO at Robinhood Crypto, steps in as Chief of Staff.

Why Is OpenSea Going All In On Mobile?

Most users are already spending the majority of their time on mobile, according to Maddern.

With Rally’s experience in mobile token trading and user experience, OpenSea sees an opportunity to rework its product from the ground up.

Hall told Decrypt,

“We’re reimagining mobile from the ground up to create a product that brings tokens and NFTs together in a magical way.”

While desktop activity still drives most trading volume, OpenSea believes mobile will fuel the next wave of consumer adoption.

The acquisition is expected to fast-track development of OpenSea’s so-called “onchain everything app” — a single platform where users can engage with digital assets, whether they’re NFTs, tokens, or meme coins, all from one mobile app.

New CTO Hints At DeFi, Perps And AI Tools

Maddern said the company is working on tools to help users access DeFi, perpetual contracts, and token trading with greater ease — signalling a platform vision that goes far beyond NFTs.

He also confirmed OpenSea is exploring artificial intelligence features, aimed at making crypto safer and easier to understand.

Details of the AI integration remain vague, but the company’s direction reflects a desire to address user complexity in crypto.

Maddern said,

“Users are looking for a single, simple place to be able to discover and engage with on-chain assets. The future of Web3 will be mobile-first.”

OpenSea Reclaims Market Share Despite Industry Decline

OpenSea has quietly regained dominance in Ethereum NFT trading, reclaiming over 50% of the market share over the past three months, according to Tiexo.

This comes after the platform lost ground to newer competitors like Blur and Magic Eden in recent years.

It follows the May rollout of OpenSea’s revamped OS2 platform — a major upgrade that introduced fungible token trading and support for 14 blockchains, including Flow, ApeChain and Sony’s Soneium BSL.

OS2 also includes cross-chain purchasing, allowing users to buy and sell NFTs across different networks without jumping through wallets or bridges.

Chief Marketing Officer Adam Hollander previously described OS2 as a step toward making “everything onchain discoverable in one place.”

NFT Market Slumps To 18-Month Low Amid Trading Collapse

Despite OpenSea’s pivot, the broader NFT market remains deep in decline.

DappRadar reports that Q2 2025 saw just $823 million in NFT trading volume — a 19% drop from Q1 and down steeply from $4 billion during the same period in 2024.

This marks the fifth consecutive quarter of decline.

High Ethereum gas fees, retreating media interest and retail fatigue have drained momentum.

Blue-chip collections like Bored Ape Yacht Club have seen value erosion, while celebrity-backed projects have largely vanished or been discredited.

Platforms including OpenSea, Blur and LooksRare have all experienced a sharp drop in user traffic, even as they continue to offer trading incentives.

From NFT Boom To Mobile Rebuild — What’s Next For OpenSea?

Rally, originally a portfolio tracking app for NFTs, raised $8 million in 2022 before rebranding and expanding into meme coin and token performance tools in 2024.

With its tech and team now part of OpenSea, the company plans to migrate Rally users into a reimagined mobile experience by the end of the year.

OpenSea launched its first mobile app in 2021 at the peak of NFT hype.

With this acquisition, it is returning to mobile with renewed ambition, reshaping itself into a cross-asset platform designed to keep pace with the fast-changing Web3 landscape.

Is OpenSea Building The WeChat Of Web3?

OpenSea’s strategy is focused and decisive.

Their goal is to become the primary mobile gateway to the crypto world.

While the NFT market cools, the platform is placing bets on a broader onchain economy that blends collectibles, meme coins, tokens and DeFi into a single app.

If successful, this could make OpenSea more than a marketplace — it could turn into the go-to interface for Web3 users worldwide.

Whether the crypto crowd will embrace an "everything app" is still up for debate, but OpenSea is moving forward with its vision regardless.