crypto-economy.com
TL;DR
- Magic Eden launched a multi-chain wallet for Solana, Bitcoin, Polygon, and Ethereum.
- Developed in collaboration with Exodus, the wallet is self-custodial, providing users with total control over their crypto assets.
- It enables instant cross-chain swaps, NFT portfolio management, and direct NFT trading from the same platform.
Magic Eden unleashed a multi-chain wallet that offers support for the blockchains of Solana, Bitcoin, Polygon, and Ethereum. This wallet, developed in collaboration with Exodus, is self-custodial, ensuring users have total control over their crypto assets. Designed to provide a more user-friendly experience. The wallet allows instant cross-chain swaps, NFT portfolio management, and direct NFT trading from the same platform.
The platform had previously introduced the beta version of its wallet in November 2023, which was available to a small group of users. In a statement, Magic Eden expressed that as they made strides in the NFT and Ordinals space, they realized the need for a crucial complementary component for user convenience: a single wallet that would allow seamless management and collection of NFTs on major chains.
Introducing Magic Eden Wallet: the only wallet you'll need for all your multi-chain NFT needs.
💧Instant cross-chain swaps
💧NFT portfolio management
💧Native Ordinals & BRC20 support
💧End to end rare sats managementPlus we have some amazing perks for users (1/2) 👇 pic.twitter.com/BG1Eve6OP3
— Magic Eden 🪄 (@MagicEden) January 29, 2024
To incentivize early adopters, Magic Eden announced the offering of NFT project creations, such as Claynosaurz, Degenerate Ape Academy, and BoDoggos, directly from the wallet throughout February. In addition to these exclusive opportunities, additional rewards would also be provided to users.
Magic Eden is the Second Largest NFT Marketplace in Terms of Trading Volume
Starting with a focus on the Solana NFT community, Magic Eden expanded its support for Polygon NFTs in November 2022. Later, in March 2023, Bitcoin and Ethereum were added as its third and fourth supported chains, respectively. However, despite initially being the go-to NFT platform on Solana, Magic Eden was surpassed by Tensor in daily trading volume last year.
Currently, the company is the second-largest marketplace by daily trading volume for Bitcoin Ordinals NFT, following OKX. In addition to NFTs, the platform also supports BRC-20 tokens, an experimental standard for fungible tokens on the Bitcoin blockchain.
Magic Eden underwent a significant evolutionary process. Shifting from its initial focus on Solana to a multi-chain platform, seeking to provide users with a comprehensive solution to manage their digital assets across various blockchains. With the growing importance of interoperability in the crypto space, this initiative may offer users a smoother and more convenient experience in managing their NFTs and cryptographic assets across different chains. Perhaps with innovations of this nature, the company may eventually reclaim the top spot in its market.