Magic Eden, a Solana NFT Marketplace is expected to expand on Ethereum by allowing Ethereum NFTs on the platform.
The platform announced its intention to offer multichain solutions for NFT creators and collectors and has already introduced a number of tools to that end.
According to a press release provided to CryptoSlate, Solana’s (SOL) top NFT marketplace Magic Eden has announced that it will now allow Ethereum (ETH) NFTs on its platform.
The platform announced its intention to offer multichain solutions for NFT creators and collectors and has already introduced a number of tools to that end.
There are three of these: the Magic Eden Drop Calendar, the Magic Eden List, and the Magic Eden Launchpad with ETH/SOL compatibility.
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In the near future, the platform also intends to roll out further cross-chain transaction analytics features.
According to the press release, the first cross-chain NFT collection EZU will shortly become online.
EZU, a sister Ethereum project of Psychedelics Anonymous, will launch on the Solana-based NFT market. Users can choose to mint in either SOL or ETH. Co-founder of the platform Zhuoxun Yin said:
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.
Yin claims that The Magic Eden List is a “white label marketplace solution” that is fully free and meets the needs of producers. CEO of Magic Eden, Jack Lu, stated:
“Launching collector tools like the cross-chain Magic Eden Drop Calendar will be the first step toward realizing that vision. The roll-out of cross-currency purchase support for SOL and ETH NFTs will build on our efforts.”
Over 90% of secondary NFT trades on the blockchain network take place on Magic Eden, the largest Solana NFT market. The amount of transactions on the market has been estimated at $2 billion.
However, the biggest NFT network is still Ethereum. Last month, sales of Ethereum NFTs totaled $535 million, compared to $56 million for Solana NFTs, according to CryptoSlam.
Other Magic Eden News
Magic Eden has advised its users to deactivate permissions to any strange URLs in their Phantom wallets, should they have those, because there is a massive Solana-based hack making the rounds.
Read about the Solana-based hack and more in today’s cryptocurrency news.
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