SNEAK PEEK
- Polygon has recently joined non-crypto firms such as Starbucks, Instagram, Disney, Robinhood and Strip to incorporate Web3 into businesses.
- Magic Eden has $2.5 billion in overall NFT trade volume till date.
- Magic Eden’s entry into Polygon will have a marketplace and launchpad which will be live in the coming month to ease the process for NFT collectors and creators.
Magic Eden is integrating with Polygon to move further into the NFT ecosystem and blockchain gaming. The former has shared in-depth details in an official blog.
🪄 Do you believe in magic? Well, we do 💜#Polygon welcomes ✨ @MagicEden ✨ to the fam!
— Polygon – MATIC 💜 (@0xPolygon) November 22, 2022
The leading cross-chain NFT marketplace is integrating with Polygon network to accelerate the development of exciting blockchain-based games and global brands entering #Web3. pic.twitter.com/6pe5qYqTNv
Magic Eden co-founder and COO, Zhuoxun Yin, said:
We are excited to integrate with Polygon and continue our pursuit of a multichain future for Magic Eden.
1/ @0xPolygon 🤝🏼 @MagicEden
— Magic Eden 🪄 (@MagicEden) November 22, 2022
Today, we're continuing our multi-chain vision by adding Polygon as our 3rd chain!
We can't wait to partner w/ world-class game developers, creators, & everyday brands joining web3.
Read more: https://t.co/hOCiGXOhji
Our launch partners 👇🏼 pic.twitter.com/93Uak9fYih
He added that this move will help them to eliminate chain-related hurdles and open non-fungible tokens to the masses. The expansion will aid Magic Eden in assisting game developers and creators ecosystem of Polygon. Polygon is known for hosting Web3 projects and publishers such as Decentraland, Ubisoft, Sandbox, Atari, Animoca Brands, etc.
Yin said that through the integration, they will welcome more & more international brands besides new users into NFT and connect Web3 games with the masses.
A number of known brands have been introduced by Polygon into Web3 to allow new users to explore utility associated with non-fungible tokens.
According to Polygon’s website, the network supports 37,000 dApps and has 1.8 billion transactions processed. Magic Eden and Polygon coming together will allow both companies to tap into each other’s ecosystem.
Magic Eden generated $130 million in June, which brought its valuation to $1.6 billion.
Everyone knows the current state of NFTs with total sales falling each month right from April. Despite this, Polygon not only performed well but surpassed Solana and Ethereum with an increase in sales volume of NFTs by 71%.
Also known as crypto incubators, crypto launchpads are platforms that enable Web3-based projects to establish inside a delegated blockchain network. Magic Eden’s NFT marketplace launchpad in a cross-chain on Ethereum, Solana or both. Also, it is accountable for 90% Solana-dependent NFT volume.
Through the integration, tools including a marketplace and launchpad connected to MATIC, the native token of Polygon, will be provided to creators .
Gaming developers such as BORA supported by Block Games, Kakao Games, Planet Mojo, nWay, Taunt Battleworld, Intella X and Boomland have committed to Magic Eden’s Launchpad.
According to Yin, Magic Eden and Polygon’s collaboration will introduce more NFT games and gaming developers into the market in the long run.
Until now, Magic Eden has introduced 100 games into the market throughout Ethereum and Solana. Yin shared that though they are in the initial phases of mass adoption in terms of blockchain games, Magic Eden has the potential to add value.
