Dharma Labs, provider of crypto lending platform and wallet, acquired by OpenSea

Dharma Labs, digital wallet service and cryptocurrency lending platform, has been acquired by OpenSea, a marketplace for non-fungible tokens (NFTs). The deal also involves Nadav Hollander, the CEO and co-founder of Dharma Labs, becoming OpenSea’s new CTO. With the deal, OpenSea says they will “dramatically improve the experience of buying, minting, and selling NFTs on their marketplace”. As well as replace the Dharma Labs app a had been available for a few years now.

OpenSea CEO Devin Finzer said in the post. That his company sees NFTs as the cultural focal point of cryptocurrency adoption for years to come. However, realizing that vision requires making NFTs easy and delightful to use for the average individual. In the end, we believe the union will be a force multiplier for the adoption of NFTs and Web3. And will greatly improve the buying, minting, and selling experience for everyone – whether they’re beginners or experts.

According to Finzer, Nadav Hollander will have an extensive impact on the company. But his first focus will be on two core priorities. Firstly by improving the reliability and integrity of our products. Secondly by building Web3-native mechanisms to engage with and reward our users.

Dharma’s announcement about Opensea

Dharma announced in a blog post that this year they will focus their efforts on the focal point of crypto’s mainstream adoption: NFTs. OpenSea benefits from our expertise, technology, and knowledge as we power a mainstream-friendly way to buy NFTs, sell and mint. “We will work together to advance the NFT industry,” the recently acquired company said.

As Hollander takes over, OpenSea’s current CTO Alex Atallah will refocus on overseeing the development of the Web3 and NFT ecosystems. From an external perspective.OpenSea has announced that Brendan Forster, co-founder, and chief operating officer of Dharma, will become its head of strategy. According to the company’s blog, Forster hopes to bring a “Web3-native perspective to product development, business management, community management, and marketing.”

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