Solana’s Magic Eden NFT marketplace expands to Ethereum NFTs

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Magic Eden, known as the largest Solana NFT marketplace, has integrated Ethereum NFTs. Users can purchase NFTs on the platform in $SOL, $ETH, and fiat.

So far, ten Ethereum-based NFT collections are featured on Magic Eden in beta: BAYC, MAYC, Bored Ape Kennel Club, Ezu, golden egg club by jeremy fall, Sappy Seals, Pudgy Penguins, Psychedelics Anonymous, 50 Years Atari, and Probably Nothing Genesis. More collections will appear later this week. 

The CEO of Magic Eden, Jack Lu, told Decrypt that the platform had planned to expand to Ethereum for a long time. The reason: Ethereum is the largest NFT ecosystem and holds the most valuable collections. He also said, “There’s actually very high degrees of user overlap between the two ecosystems.”

Business2Community yesterday wrote that Magic Eden saw a 36% increase in sales volume, reaching $4.6 million. The Ethereum Merge, OpenSea’s adoption of the Arbitrum One solution, and Magic Eden’s support for Ethereum NFTs are among the reasons why NFT sales are growing despite cryptocurrencies still being down.

Magic Eden also shared Solana’s milestones this year. From April to June, SOL climbed to approximately 40 million daily transactions, which left ETH behind at around 1 million daily transactions.

The platform already introduced the ETH aggregator ‘Magic Ethen’ in August. In June, Magic Eden raised $130 million in a Series B fundraising round. At the time, the marketplace had already mentioned plans to integrate Ethereum NFTs into its platform.

The news indicates that the next generation of crypto developers will be strongly focusing on cross-chain infrastructure.

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Agne Cimermanaite

Agne is a journalist and writer with a background in literature, culture, and arts. She entered the Web3 space in 2021 and began writing about cryptocurrency and NFTs. Agne is passionate about technology and storytelling and is always on the lookout for exciting stories.

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