The world’s largest NFT marketplace OpenSea is seeking to expand its footprint.
Axios is reporting that the company is in talks to buy Dharma Labs, a digital wallet for cryptocurrencies.
Dharma more closely competes with the likes of Coinbase, which makes this an interesting move for OpenSea.
With the exponential rise in interest in NFTs, user-friendly crypto wallets are now more than ever critical, and Dharma provides that.
The company offers an easy way to move your dollars between your bank and decentralized exchanges. It also offers a lot more tokens than Coinbase; 76,708 by their count, against Coinbase’s 144.
The deal is reportedly valued at between $110 million and $130 million, and is likely an all-stock deal.
In related news, OpenSea has just finished their Series C funding, raising $300 million to value the company at $13 billion.