05/01/2022 Scoop: NFT marketplace OpenSea in talks to buy Dharma Labs

Animated illustration of an ornate frame with falling dollar signs

NFT marketplace OpenSea is in talks to acquire Dharma Labs, a digital wallet for cryptocurrencies, Axios has learned from multiple sources.

Why it matters:NFTs have exploded in popularity, as everyone from global consumer brands to indie artists have rushed to sell digital collectibles, and user-friendly crypto wallets are critical to the industry's future growth.

Details: Deal terms are still being hammered out, with current talk of an all-stock deal valued at between $110 million and $130 million.

  • Founded in 2017, Dharma Labsinitially built a protocolfor cryptocurrency lending and participated in Y Combinator's program that same year.
  • It has raised about $15 million from investors like Green Visor Capital and Coinbase Ventures.
  • OpenSea is finalizing a new round of funding at a $13 billion valuation, as first reported byEric Newcomerand confirmed by Axios. It last raised money in July 2021 at a $1.5 billion valuation, led by Andreessen Horowitz.

Neither OpenSea nor Dharma Labs agreed to comment for this story.

Arts

https://www.axios.com/opensea-nft-dharma-acquire-f6df00d5-1cc0-463a-95fd-2f5039947ed8.html

Interesting NFTs
Crossroad
LIMITED EDITION 1/1 | includes signed limited edition prints of all 3 states (pre-election, Trump win, Biden win) This piece is a first for Nifty, a token that will change based on the outcome of the election. If anything is constant about the times we now live in, it's uncertainty. This uncertainty is perfectly encapsulated in this piece of artwork as the person buying the piece will not know the final artwork. The artwork will be one state at auction before the election, and after the results of the election are known, will forever change to reflect a Trump or Biden win. PLEASE FUCKING NOTE: If trump wins, this token will change to that video of sexy boi king trump stomping through hell FOREVER. I don’t want you coming back to me bitching that you spent $2M* on this and now it’s a video of orangeman going HAM and it’s keeping u up at night popping mad boners. should have voted bruh. *and stfu that this isn’t gonna be worth a fuckton more when I hit 30 years of everydays and have a permanent collection in the MOMA. smh.
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
2.0
2.0
Gate to the Everdream
A mystical portal said to take anyone who enters it to The Everdream, a place devoid of time, where imagination and reality blend into one. No one who has crossed this gate has ever returned. Whether they are unable or unwilling, we might never know.
Magnetic Forces v3
"El imán humilla al hierro. Es una teoría sobre el amor. Magnets humiliate iron. It's a theory about love." --Marco Denevi