NFT marketplace OpenSea declared that it has acquired Dharma Labs, a digital wallet for cryptocurrencies, for an undisclosed amount and said Dharma’s Chief Executive Officer (CEO) would become OpenSea’s Chief Technology Officer (CTO). OpenSea noted that the deal would help it “improve the experience of purchasing, minting, and selling NFTs” on its marketplace. OpenSea also said that its current CTO, Alex Atallah, will now look after its web3 and NFT ecosystem development.

“In 2021, NFTs boosted into the mainstream in a way which only a few people could have imagined, and OpenSea grew nearly 1000x in a brief period. Because of which we now have the opportunity to develop a truly generational product. I am excited to focus on OpenSea’s tech to meet the reliability, performance, and uptime benchmarks which its users expect and deserve,” Dharma Labs CEO Nadav Hollander said in a statement.