NFT marketplace OpenSea has confirmed the purchase of Dharma Labs, the developer of an Ethereum wallet with the ability to buy tokens on Uniswap for fiat. The deal will integrate project infrastructure components to facilitate the purchase, sale and issuance of non-fungible tokens.
Thrilled to welcome @NadavAHollander and the @Dharma_HQ team to OpenSea as we enter our next phase of growth. NFTs are the entry point for mainstream consumer adoption of web3 and crypto, and ultimately our union will help expedite adoption. https://t.co/RTL0INiet5
— Alex Atallah (alexatallah.eth) (@xanderatallah) January 18, 2022
January 4 reported about OpenSea’s interest in buying Dharma labs. According to The Block, the transaction amount was within the previously mentioned $110 million-$130 million. Officially, the figures were not announced.
Dharma Labs co-founder Nadav Hollander will take over as CTO of OpenSea. He is tasked with improving the technical reliability and uptime of the marketplace, as well as creating built-in web3-mechanisms for interaction and encouragement of the community.
Dharma Labs co-founder Brendan Forster will be head of strategy.
Alex Atalla, the former CTO of OpenSea, will develop the web3 and NFT ecosystem.
The Dharma application will stop working, users were advised to withdraw funds before February 18.
Recall that the trading volume of the OpenSea NFT marketplace has exceeded $3.5 billion since the beginning of January.
Earlier, OpenSea closed a $300 million Series C funding round. The platform’s valuation reached $13.3 billion.