Magic Eden Begins Testing Ethereum NFT Trading Tools
After announcing its plans to go multi-chain last month, Solana-exclusive NFT marketplace Magic Eden has now officially begun testing its new suite of Ethereum NFT trading tools. In doing so, the platform follows in the footsteps of industry leader OpenSea, which currently supports NFTs on the Ethereum, Klaytn, Polygon, and Solana blockchains.
A beta test is kicking-off proceedings this week, wherein 10-15 Ethereum-based NFT collections will grace Magic Eden’s aggregating marketplace for the first ever time. Following a successful test period, next week will see the unicorn-status marketplace launch its Ethereum NFT trading tool kit in full.
With a full set of Ethereum NFT trading tools at their disposal, Magic Eden visitors will essentially be treated to the same go-to-market services as the platform hosts for Solana NFTs. These include ‘Quick Buy’ and ‘sweeper’ tools (which also enable users to snipe the best deals using the ‘auto-swap’ feature), a collection discovery page (which includes the platform’s familiar ‘drop calendar’), and whitelist signup accessibility on the homepage.
Watch the exclusive interview with Magic Eden’s CEO Jack Lu discuss the future of the billion dollar NFT marketplace on Blockster’s original show, The Blockchain Hustler.
Traders wanting to optimize their activity can also do so by using the platform’s stats page, as well as its ‘Pro Trade’ feature which’ll allow them to view listings and sales in real time, conduct research into the distribution of listings, and assess asset’s prices in comparison to their rarity.
In an addition that’ll be of benefit to both SOL and ETH adopters, the marketplace will also be adding support for cross-chain payments, meaning NFTs on either blockchain will be able to be purchased using either cryptocurrency (as well as fiat).
Intuitively, the inauguration of the Ethereum ecosystem will add scope for Magic Eden-residing creators and collectors to engage with previously out of reach communities and collections. This reality, paired with the fact that particular ‘barriers to purchase’ are now alleviated through the addition of cross-chain payments, should provide the non-fungible community with hope that better, brighter, and more-bullish days are to come.
And as Aristotle (the legendary philosopher who was an essential Blockster of his time) once taught us, ’the sum of the parts is greater than the whole’.
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