Magic Eden (“the Company”), the leading community-centric NFT marketplace, announced that it will be adding and integrating Ethereum (ETH) NFTs into their platform. Since its launch in September 2021, Magic Eden has seen over 90% of secondary trading volume and US$2B USD in total trade volume for transactions on Solana (SOL) NFTs, their first supported blockchain. 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 the past 18 months, the SOL and ETH NFT markets have witnessed tremendous growth within their respective, wholly distinct, 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.
As a culture-driven and community-obsessed marketplace, Magic Eden’s ETH entry is designed to deliver multi-chain solutions that can serve both NFTs creators and collectors with the best experience possible. Collectively, the features include: Magic Eden List (a whitelist and audience targeting tool), Magic Eden Launchpad (now with ETH/SOL compatibility), and Magic Eden Drop Calendar in August. Magic Eden is also running private beta tests to support the launch of a cross-currency trading product where users can browse the most extensive selection of SOL and ETH NFTs and make purchases via SOL, ETH, or credit card. Magic Eden will also see the roll-out of cross-chain trading analytic tools in the coming months.
To extend Magic Eden’s relationship with ETH NFT creators, the platform will build on its track record of delivering best-in-class NFT launch support. Magic Eden’s ETH-compatible Launchpad features 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.
In the coming weeks, Magic Eden will debut its cross-chain Launchpad with EZU, a sister collection of the popular ETH project Psychedelics Anonymous, founded by Voltura (Lewis Gale). EZU will be the first native ETH project to launch on Magic Eden with the ability for users to mint in both ETH and SOL.
Creators across chains will also be able to build pre-mint traction and journey into Magic Eden’s extensive community presence via a free whitelist and holder management tool called Magic Eden List. ETH creators interested in launching their own community marketplace will also be able to leverage Magic Eden’s whitelabel marketplace solution spanning their launch and beyond.
Zhuoxun Yin, COO and Co-Founder of Magic Eden, commented, “We want to honor the creators in this space by developing tools that would address their vast needs – which is why we made Magic Eden List available as a free resource and developed a whitelabel marketplace solution. Through our cross-chain Launchpad, creators will unlock a new set of audience 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.”
Collectors can also look forward to a number of trading tools that will unlock access to deeper multi-chain experiences. Beginning in August, users will be able to track highly-anticipated NFT mints on SOL and ETH through Magic Eden’s Drop Calendar. The Drop Calendar was created to give the community a resource that would capture the most holistic view of upcoming mints in the NFT ecosystem. It will also integrate with Magic Eden List so that users can sign up for whitelist access for projects utilizing the tool. Magic Eden will also be running private beta tests to develop a cross-currency trading product that will empower users to purchase SOL and ETH NFTs with SOL, ETH, or credit card. Future releases will also include multi-chain compatible analytics tools to inform collectors’ decisions and NFT trades.
Jack Lu, CEO and Co-Founder of Magic Eden, added, “We believe in a collective NFT community that exists across multiple chains. Launching collector tools like the cross-chain Magic Eden Drop Calendar will be the first step towards realizing that vision. The roll-out of cross-currency purchase support for SOL and ETH NFTs will build on our efforts. The more creators and collectors can reach across chains, the more we can collectively experience powerful cultural moments on the blockchain. We are honored to be the destination that will bring the next wave of users into the Web3 movement.”