NFT Marketplace Magic Eden integrates with Polygon to develop blockchain games • TechCrunch

NFT Marketplace Magic Eden integrates with Polygon to develop blockchain games • TechCrunch

NFT marketplace Magic Eden is integrating with the Ethereum scale-level Polygon blockchain to dive deeper into blockchain games and NFT ecosystems, the companies announced on Tuesday.

“We are excited to integrate with Polygon and continue to aim for a multi-network future for Magic Eden,” Zhuoxun Ying, co-founder and COO of Magic Eden, told TechCrunch. “By offering this integration, we continue to remove any network-specific barriers and open NFT to the masses.”

The extension aims to provide Magic Eden with the ability to support the Polygon ecosystem of game developers and creators. The Polygon network hosts some of the largest web 3 gaming projects and publishers such as Ubisoft, Atari, Animoca Brands, Decentraland, Sandbox and more.

Ethereum-focused Polygon also recently made headlines for partnering with non-cryptocurrency companies such as Instagram, Stripe, Disney, Starbucks, and Robinhood to integrate web3 technology into businesses.

“The integration will allow us to bring more global brands and new users to the NFT market while continuing to bring web3 games to the masses,” Yin said. “Polygon has already brought many well-known brands to web3, which opens up new opportunities for new users to discover the many benefits of NFTs.”

The Polygon network powers over 37,000 decentralized applications (dApps) and has processed around 1.8 billion transactions, according to its website. Expanding with Polygon could give Magic Eden the ability to connect to its ecosystem and vice versa.

After launching in September 2021, Magic Eden has grown in popularity quite quickly. On average, it has about 10 million unique user sessions per month and more than 20,000 NFTs are traded daily — even in a downturn in the market, the company said. Magic Eden raised $130 million in June, bringing its valuation to $1.6 billion.

To date, the total volume of NFT trading on the Magic Eden platform exceeds $2.5 billion.

In general, the NFT market has not been growing lately as, according to CryptoSlam, total NFT sales have been declining every month in a row since April. However, in the past 30 days, Ethereum NFT sales have increased by about 26%, while Solana NFT sales have fallen by almost 20%. data showed. During this period, Polygon outperformed the Ethereum and Solana blockchains with a 71% increase in NFT sales.

“Our entrance to Polygon will include a launch pad and marketplace that will launch next month and will make the process easier for NFT creators and collectors,” Yin said.

Crypto Launchpads are also known as Crypto Incubators and are platforms that allow web3 focused projects to be created on a specific blockchain network. In the case of Magic Eden, the NFT marketplace launch pad is cross-chain on Solana, Ethereum, or both, and is responsible for 90% of all Solana-based NFTs, according to its website.

According to the announcement, the integration will focus on providing creators with tools, including a launcher and marketplace, that are linked to Polygon’s native token, MATIC. Game developers such as BORA backed by Kakao Games, IntelliX, nWay, Block Games, Boomland, Planet Mojo, and Taunt Battleworld have already committed to launch Magic Eden Launchpad with Polygon.

In the long term, the partnership between Magic Eden and Polygon aims to bring more game and NFT game developers to the market, Yin said.

So far, Magic Eden has brought more than 100 games to market on the Solana and Ethereum Tier 1 blockchains, he added. “While we are still in the early stages of mass adoption of blockchain games, we believe that Magic Eden can add value here.”

Written by khirou

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