OpenSea Acquires Dharma Labs and Welcomes a New CTO
OpenSea has just announced the acquisition of Dharma Labs as it enters its next phase of growth.
Non-fungible tokens (NFTs) became the "leading edge" in terms of crypto's cultural adoption in 2021, with dozens of collections and tens of thousands of unique commodities achieving mainstream cultural prominence. In addition to that, NFTs are the entry point for mainstream consumer adoption of web3 and crypto, and with this union OpenSea and Dharma Labs will help expedite adoption.
According to its latest development, OpenSea aims to focus on four main goals, boosting product development, increasing trust, safety, and reliability efforts, investing meaningfully in the NFT and web3 ecosystem, and last but not least considerably scaling the team. Consequently, OpenSea has just acquired Dharma Labs to bring its knowledge, expertise, and technology in order to power a mainstream-friendly way to buy, sell, and mint NFTs.
“Our teams share a vision that NFTs will be the cultural focal point of crypto’s adoption for years to come — 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 — whether you’re a beginner, or a pro.”
As part of the acquisition, OpenSea welcomes a new Chief Technology Office (CTO), Nadav Hollander, Dharma Labs Co-Founder. He will bring his expertise to improve the technical reliability and uptime of OpenSea’s products, and to build web3-native mechanisms for engaging with and rewarding OpenSea’s early and loyal community.
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