OpenSea plans to launch a comprehensive on-chain application platform that integrates NFTs, tokens, and DeFi

ChainCatcher news, according to Cointelegraph, due to the continuous decline in digital collectible trading volume and increasing competition, the crypto trading platform OpenSea is expanding its business into non-NFT areas.

OpenSea previously announced the acquisition of Rally, a token trading platform focused on mobile, aiming to enhance its presence on mobile devices and strengthen token trading capabilities. OpenSea stated that it will create an "integrated application across the entire chain" in the future, providing users with a brand new experience.

Chris Maddern, co-founder of Rally and current CTO of OpenSea, stated that this move will integrate "the best resources in the crypto space," bringing everything together on one platform. The vision for this new mobile-focused NFT platform is to create a "one-stop" application for members of the crypto community, where users can find everything they need. The application will integrate NFT, token, and decentralized finance (DeFi) functionalities.