OpenSea's Rival NFT Marketplace Magic Eden Announces Support For Ethereum NFTs 10

OpenSea’s Rival NFT Marketplace Magic Eden Announces Support For Ethereum NFTs

  • Leading Solana NFT Marketplace Magic Eden announces support for Ethereum NFTs
  • The firm will also be adding comprehensive features to allow users to trade ETH NFTs and make payments in SOL/ETH or via credit cards. 

Magic Eden, the Solana-centric NFT platform is expanding its base and has recently announced multichain support for the Ethereum blockchain. 

Per the official press statement, Magic Eden will soon be integrating Ethereum NFTs on its platform, giving users a chance to explore and trade suitable SOL and ETH NFTs with credible ease. 

Magic Eden Set To Integrate Support For Ethereum NFTs. 

Solana-based Magic Eden is leveling up by adding support for Ethereum NFTs. In its recently released press statement, the firm announced its decision to add Ethereum NFTs to its platform. 

The statement further states how the addition of Ethereum NFTs on Magic Eden will help the firm solidify its stance and offer a comprehensive virtual experience to numerous NFT enthusiasts and collectors. 

This news accelerates Magic Eden’s efforts to extend its presence across Web3 communities by integrating the two largest blockchains for NFTs and delivering the most feature-rich multi-chain experience for creators and collectors.”

In addition to this, the integration of Ethereum NFTs on Magic Eden is set to assist NFT creators in seamlessly reaching new audiences and encourage them to build NFT-centric communities. 

“Magic Eden aims to bring these two universes closer on the belief that NFTs’ social, cultural, and connective utilities should be shared across chains. By going multi-chain, Magic Eden will enable NFT creators to launch seamlessly, reach new audiences, and access added liquidity, while collectors will be able to discover new communities and connect across the passionate culture of the emerging space.” The statement later adds.

The press release further revealed details on leading NFT elements that the firm will soon be launching. Magic Eden’s ETH NFT integration will be launched with comprehensive features which will include Magic Eden List, a feature described as a “whitelist and audience targeting tool.” The firm will also be introducing other premium features such as Magic Eden Launchpad and Magic Eden Drop Calendar. 

In addition to this, the Solana NFT marketplace is currently in process of running private beta tests to launch a feature called “cross-currency trading.” The said feature will enable users to browse and purchase a variety of ETH and SOL NFTs listed on the platform.

Magic Eden will also be simplifying the NFT payment process by permitting users to make purchases via crypto (SOL/ETH) or through their credit cards. 

Furthermore, the firm will also be introducing its cross-chain launchpad in association with EZU, which is described as “a sister collection of the popular ETH project Psychedelics Anonymous.”

Speaking about their decision to add support for Ethereum, Zhuoxun Yin, COO and Co-Founder of Magic Eden added: 

“…Through our cross-chain Launchpad, creators will unlock a new set of audiences through which they can amplify and grow their projects, as well as tap into additional sources of liquidity. Creators launching with Magic Eden will no longer have to face the difficult decision of choosing one chain over another at the cost of limiting their potential audience reach. Web3 is a place for us to share knowledge and evolve together.”

Founded in 2021 as a leading Solana NFT marketplace, Magic Eden serves as a central NFT platform to trade and purchase Solana NFTs. 

The platform has been aggressively working towards expanding its use cases and has been exploring multiple partnerships to solidify its base. Recently, the firm announced its foray into Web3 digital gaming by announcing the launch of a gaming-centric venture arm called Magic Ventures. 

A week ago, the firm had also introduced its first semi-fungible token (SFTs) in association with the popular move-to-earn NFT game Genopets.