NFT Marketplace Magic Eden has completed the acquisition of Slingshot, a trade app from the cross-chain, which means that an important pivot goes beyond digital collecting objects in extensive crypto-trade. The strategic move, completed on April 9, 2025, transforms Magic Eden From an NFT-oriented platform to a full-spectrum digital asset-marketplace that supports more than 5 million tokens in multiple block chains.
Important collection restaurants
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Magic Eden’s Acquisition of Fate the company positions to compete directly with centralized exchanges such as Coinbase and Binance while retaining a non-custodial, on-chain model.
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The chain-abstraction technology of Slingshot makes trade in 10+ block chains possible without users having to bridge assets between networks.
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Despite the generation of $ 75 million in income from NFTS in 2024, Magic Eden diversifies his business model in the middle of changing market conditions.
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The platform will retain its existing NFT marketplace and at the same time add trade options for millions of tokens, including those often excluded from centralized trade fairs.
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Plans for the future include the integration of Bitcoin Runen and expand to extra block chains such as Hyperliquid, XRP, Cardano, Sui and Ton.
Slingshot’s game-changing cross-chain technology
The basis of this expansion is Slingshot’s innovative chain-advanced trading system. This technology eliminates traditional barriers between block chains, so that users can be able to act assets SolanaEthereum, and soon Bitcoin Without manually transfer the tokens between networks.
The approach of Slingshot includes a universal USDC balance system that simplifies the user experience. By removing technical obstacles, such as gas costs and bridging requirements, Magic Eden can now offer non-right trade With transparent settlements on chains in multiple blockchain ecosystems.
Strategic diversification outside NFTs
While Magic Eden achieved impressive financial results with a turnover of $ 75 million in 2024 despite NFT market challenges, the company acknowledges the need to adapt to changing market conditions. At its peak, the platform facilitated $ 1.9 billion in secondary NFT -Handelsvolume and attracted 22 million monthly visitors.
CEO Jack Lu Emphasized that although the company remains “incredibly bullish” on NFTs, the mainstream crypto-acceptance tool-driven applications required instead of purely speculative trade. This acquisition is a calculated step to expand the reach of Magic Eden while retaining its NFT activities core.
Friction -free onboarding for new crypto users
An important advantage of the Slingshot integration is the user-friendly functions that remove common access barriers for crypto newcomers. With support for Apple Pay, Venmo and traditional credit cards/payment cards, the platform simplifies the purchasing process.
The option E -mail application of the system reflects the fame of centralized exchanges while it offers Multi-chain flexibility. Slingshot has already attracted nearly 1 million users, which shows the potential of this approach to this approach of the public by Magic Eden beyond NFT gatherers.
Compete with centralized fairs
LU describes the vision for the extensive platform of Magic Eden as “Think Binance of Coinbase, but entirely on the chain.” This approach offers the company a competitive advantage against centralized exchanges by preventing legal and security problems in connection with storage models.
The company’s strategy is led by what LU calls the magical principles:
Magic Eden’s historic 2% NFT Marketplace fees Undercut competitors such as OpenSea (2.5%), suggesting that the willingness to also compete on price in the wider token trading market.
Expand further than NFT collections
The acquisition drastically increases the range of Magic Eden. Although the platform will continue to support its 8,000 existing NFT collections, users now have access to more than 5 million tokens, including Memecoins and Altcoins that are often excluded from centralized platforms due to legal considerations.
This extensive expansion of available assets helps magical Eden to record users who may be deterred by the limitations of large fairs, so that the company is placed in a unique way in both the NFT and the wider crypto-trade rooms.
Future route map
Magic Eden has outlined ambitious plans for the continuous expansion of his cross-chain ecosystem. Important positions include:
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Bitcoin Runes Integration
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Support for extra block chains, including hyperliquid, XRP, Cardano, SUI and Ton
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Improved social functions that make copier and portfolio parts possible
The success of the extensive platform of Magic Eden will depend on how effectively the company balances innovation with stability if it enters the sector for competitive and volatile token trade.
As Magic Eden evolves from an NFT marketplace to an extensive crypto -trading platform, it faces the challenge of maintaining its existing community and to attract traders who have used previously centralized exchanges. Now that the technology of Slingshot is now integrated, the company is based that reducing friction between block chains will be attractive for both casual and advanced crypto users.
