Magic Eden Adds More ETH Collections, CEO Says This Move To ETH Was ‘Very Natural’!

Magic Eden adds more ETH collections, CEO says this move to ETH was ‘very natural’!

Back in August, one of the biggest Solana-based NFT marketplace Magic Eden made the exciting announcement of integrating Ethereum-based NFTs into their platform.

And recently, on Wednesday, Magic Eden had added a number of notable Ethereum-based NFTs into their marketplace, like Bored Ape Yacht Club (BAYC), Pudgy Penguins, CyberKongz, Otherside, and more!

Inevitable Expansion To ETH

Previously being a Solana-only Marketplace, Magic Eden is looking to expand its community with Ethereum NFTs. Magic Eden co-founder Zhuoxun Yin told CoinDesk, “We don’t think winning on ETH will happen overnight. We are entering the market with humility and are prepared to build for a long while.

Speaking on the Decrypt Podcast, Magic Eden’s co-founder and CEO Jack Lu also claims that the marketplace’s move to Ethereum was inevitable and ‘very natural.

Lu says that since the start of Magic Eden, the founders had already planned on making it a multi-chain marketplace where investors could buy and sell NFTs on multiple blockchains.

“For us to move from SOL to ETH, it was actually very natural. A lot of those users were like, ‘Oh yeah, well, I’ve got a MetaMask [wallet] already, I already know kind of about the landscape. It makes sense that a Solana marketplace wants to move to Ethereum, as well.’” Lu explains.

Marketplace Competition

Magic Eden isn’t the only marketplace making moves in expanding its platform, for quite a while now OpenSea has also been selling Solana NFTs on their marketplace, although popularity and heights of these collections are yet to reach highs as similar as their Ethereum-based NFT collections.

Recently, OpenSea also made statements on their Twitter hinting at the possibility of adding even more blockchains on their platform, allowing for more communities to use their marketplace to buy and sell their NFTs.

Related: Opensea To Support More Blockchains In The Future, Here Are The Details!

Although for a long time, OpenSea has been known to be the top Ethereum-based NFT Marketplace and Magic Eden the top Solana-based NFT Marketplace, these ‘titles’ given to them by many in the community can change anytime soon as both platforms have big plans of expanding to more blockchains.

For more info regarding Crypto Alpha and NFTs Alpha.  Always follow us on Twitter and Instagram


Related post