Magic Eden Announces Future Vision
By Philip Maina
1 month agoWed Oct 23 2024 12:17:08
Reading Time: 2 minutes
- Magic Eden has revealed that it’s charting a new course for its future
- The vision includes making the NFT marketplace a one-stop shop for all NFTs on all blockchains
- Magic has started working on this vision and is set to support the newly launched ApeChain
NFT marketplace Magic Eden has disclosed its plans for the future, including being a one-stop platform to trade NFTs on all blockchain s. The marketplace disclosed that its new vision for the future will be powered by its native token, ME. Magic Eden is already working towards its vision, revealing that it will support NFTs on 10 more networks within the next two months, including the newly launched ApeChain, a sign that the marketplace still believes in collectibles despite the current downturn in the space.
Making On-chain Safe and Fun
According to Magic Eden CEO Jack Lu, the vision involves replicating centralized crypto exchange s like “Binance/Coinbase but fully on-chain.” The vision targets things like “making crypto easier for everyone,” developing one app for all assets in all chains, growing the space, community transparency, and showing that it’s in the NFT space “for the long term.”
To make crypto easier for everyone, Magic Eden wants to create mobile-native experiences, ease onboarding, and provide a “familiar UI to make on-chain feel safe and fun.” Magic Eden intends to show that it’s committed to the industry by having its founders “lock their [ME] tokens until at least 18 months after TGE (token generation event).”
Magic Eden’s vision of the future comes a month after Lu disclosed that the marketplace is experiencing its “best year ever,” adding that NFT collectors are interested in content and convenience.
Magic Eden Has a Deeper Connection With Web3
It also comes two months after the marketplace announced that it will launch its own native token, a move that resembles that of other NFT exchanges like LooksRare and Blur. Magic Eden has over the years increased its involvement in the web3 space and has unveiled a cross-chain crypto wallet and a bitcoin ordinals creator NFT launchpad .
With Magic Eden being among the top two NFT marketplaces, its new vision is likely to help it stay at the top.
