Magic Eden moves to Ethereum network for broader NFT offering.
In its quest to become the number one abode of digital creators, Magic Eden is integrating the Ethereum NFT ecosystem into its offering. It wants to create a marketplace for Ethereum NFT creators that offer similar go-to-market benefits. Magic Eden is a leading NFT marketplace on the Solana network. It has seen over 90% of secondary trading volume and USD 2 billion in total trade volume for transactions on Solana NFTs.
Magic Eden intends to extend its presence across Web3 communities by integrating the two largest blockchains for non-fungible tokens and delivering the most feature-rich multi-chain experience for creators and collectors. Over the past 18 months, Ethereum and Solana networks have seen tremendous growth within their respective communities. Magic Eden wants to bring the two communities together for the NFT’s social, cultural, and connective utilities to be shared across chains. It will help NFT creators launch seamlessly, reach new audiences and access added liquidity. Collectors will also get to discover new communities and connect across the culture of the emerging space.
It should be noted that Magic Eden’s Ethereum move is designed to deliver multi-chain solutions that can serve NFT creators and collectors with the best experience possible. The marketplace is also running private beta tests to support the launch of a cross-currency trading product where users can browse the more extensive selection of SOL and ETH NFTs. Moreover, the platform is working towards delivering best-in-class NFT launch support. The Magic Eden ETH-compatible Launchpad has the same seamless minting set-up, white-glove marketing support, and bespoke launch build-outs that have helped bring over 300 NFT projects to market.
Furthermore, Magic Eden will introduce its cross-chain Launchpad with EZU – a sister collection of the ETH project Psychedelics Anonymous, founded by Voltura. EZU is the first native ETH project to launch on Magic Eden.