Magic Eden has finally made the news after teasing a significant statement and an news of an announcement: It’s pivoting into exchangeable sign and post coin trading across several chains.
Magic Eden made the announcement on Wednesday that it would buy Slingshot Finance, the first mobile-first crypto trading software known for its cross-chain transfers and user-friendly software, in a sign of its growing passions beyond NFTs.
Magic Eden is positioned by the acquisition strategy as an alternative to conventional crypto exchanges thanks to a simplified trading strategy for online resources. Sling is anticipated to expand its cross-chain offerings further in the coming weeks by adding support for Glyphs, also known as Bitcoin-based image coins.
The transaction represents a substantial change for Magic Eden, which is renowned for being a premier NFT platform and digital resource platform. By integrating Slingshot’s buying system, the business aims to become a full-scale hotspot for crypto engagement with currencies, NFTs, and cross-chain purchases all under one roof.
In a press release, Magic Eden co-founder and CEO Jack Lu stated,” This merger is a significant step forward in advancing the Magic Eden perception, which is to give people around with a smooth and healthy way to buy and sell blockchain and online assets across all chains.” He added that the agreement “accelerates our capacity to have an impact on the future of crypto.”
Hammer, which has attracted nearly a million people since its release, makes it possible to trade across more than 10 cryptocurrencies without having to manually gate property between networks. Hammer has been praised for its beginner-friendly program, which allows password via email and stablecoins on-ramps like Apple Pay, PayPal, and credit cards, and real-time advertisements for over 5 million currencies.
The addition of Solana NFT market Tensor, whose company also has its own crypto trading app integrated with Vector, helps Magic Eden compete with a key rival more effectively. Hammer will not be rebranded with the Magic Eden logo, according to a director who told .
Hammer is establishing the industry’s most complete trading infrastructure, and Magic Eden and Slingshot are aiming higher. Clinton Bembry, the co-founder and CEO of Slingshot, stated in a press release. This decision, as the world has done before, gives us more freedom for the personal and makes crypto more accessible for everyone.
Magic Eden and Slingshot are betting on traders wanting distributed choices that feel more receptive and offer them more autonomy as they become more prevalent and participate in authorities ‘ and regular consumer meetings.
” It’s been a fantastic partnership with Clinton and his team,” Magic Eden’s Lu told , noting that Slingshot will add “gamified experiences, AI integrations, [and ] expansion to chains unsupported by other platforms like Hype, XRP, and native BTC.”
edited by Andrew Hayward
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