NFT marketplace OpenSea acquires Dharma Labs, a wallet
NFT marketplaces have sprung in large numbers in the crypto industry. On the other hand, the biggest NFT marketplace, OpenSea continues its expansion with the acquisition of Dharma Labs, a cryptocurrency wallet firm.
OpenSea unites with Darma Labs
OpenSea has plans of making Web 3.0 and NFT adoption relatively easier than it is currently right now. It is evident that the crypto industry is in need of cleaner UIs and relative ease of services.The post said that “NFTs are the focal point of crypto’s entrance into mainstream culture; making buying NFTs as easy as possible on OpenSea will be a force multiplier on this trend. Our objective is to improve the experience of buying, selling, or minting an NFT on OpenSea for all users.”
In a tweet by the official account of Dharma, it was revealed that for the next 30 days, all the transfers out of the wallet will be free of any fee on Ethereum if they are greater than $300. Furthermore, the transactions on Polygon will be free.
Moreover, the tweet also revealed that all sales to bank accounts will be free on Ethereum if they are greater than $100 and totally free on Polygon. However, all swaps & purchases of crypto will be disabled as the merge of Dharma Labs to OpeaSea takes place.
New CTO
The NFT marketplace announced the acquisition on Jan 18, 2022 and also announced the onboarding of a new Chief Technology who is the founder and CEO of Dharma Labs, Nadav Hollander.The Co-founder and COO of Dharma Labs, Brendan Forster, revealed that he will be joining OpenSea as Head of Strategy of the team which will be led by the CFO of the NFT marketplace.
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