NFT marketplace Magic Eden integrates Polygon and moves forward with blockchain gaming
In Brief
After adding support to Ethereum, Magic Eden expands with Polygon NFTs.
The top Solana marketplace dives deeper into the blockchain gaming and cross-chained NFT ecosystem.
Magic Eden is not the Solana-focused NFT marketplace we knew before: In September, the NFT platform announced support for Ethereum, and today, it has begun selling Polygon NFTs.
Polygon is a low-fee network that provides high-speed transactions and is compatible with the Ethereum Virtual Machine, which improves NFT trading and game design. By supporting Polygon, Magic Eden joins top-tier blockchain gaming companies that have been actively building: Animoca Brands, Atari, Decentraland, Somnium Space, The Sandbox, and Ubisoft.
The first Polygon NFT projects on Magic Eden include Bora Ecosystem backed by Kakao Games, Intella X, nWayPlay, Shatter Point created by Get Block Games and Estoty Games, BoomLand, Planet Mojo, and Taunt Battleworld.
After announcing the news, Magic Eden pledged to onboard more brands and new users into the NFT market, popularize Web3 gaming, and become the top marketplace across chains.
After the expanded support for Polygon, Magic Eden’s focus is geared toward gaming, as the company claims it’s the dominant NFT platform for games. The marketplace aims to support game developers by helping Web3 games reach valuable audiences, investing in early-stage games through Magic Eden Ventures, offering games to sell NFTs in the active game-dedicated marketplace, and providing top infrastructure. Magic Eden has already launched over 100 gaming and metaverse projects.
“Given Polygon’s popularity amongst game developers as a low-cost EVM-compatible chain, integrating Polygon will continue to cement Magic Eden as the go-to Web3 gaming platform. Game developers will now have the greatest optionality on Magic Eden; we can invest, launch collections, power in-game activity and drive user acquisition for developers building on Polygon with Magic Eden,”
said Zhuoxun Yin, the co-founder and COO of Magic Eden.
Polygon wrote that the integration accelerates “the development of exciting blockchain-based games and global brands entering Web3.”
One of the possible reasons why Magic Eden began building a multi-chain platform was the collapse of Solana. Even before the FTX bankruptcy, the cryptocurrency was trading low (around $30). In the last few weeks, SOL couldn’t go higher than $18 and is currently at a mere $11.85.
Yesterday Magic Eden said that more big announcements are coming out this week. Meanwhile, users speculate that Polygon might be integrating with YouTube.
Some NFT creators have been disappointed with Magic Eden’s decision to move forward with the recently implemented optional creator royalties on the marketplace.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
