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 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 Literary Studies from the University of Amsterdam and has an extensive background in writing about a wide range of topics including cybersecurity, travel, art, and culture. She has also volunteered as an editor for the animal rights organization, “Open Cages,” where she helped raise awareness about animal welfare issues. Currently, Agne splits her time between Barcelona, Spain, and Vilnius, Lithuania, where she continues to pursue her passion for journalism. Contact her on [email protected]

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