Solana NFT marketplace Magic Eden expands multichain vision with Polygon integration

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Lead­ing Solana NFT mar­ket­place Mag­ic Eden recent­ly announced plans to deploy on Poly­gon as part of its mul­ti­chain strategy.

Once inte­grat­ed, Mag­ic Eden will be avail­able on three dif­fer­ent blockchains, with Ethereum mak­ing up the oth­er offering.

A Mag­ic Eden blog post explained the team is “open to all the pos­si­bil­i­ties that inno­va­tion brings.” When tied with the over­all goal of grow­ing the NFT indus­try as a whole, a mul­ti­chain pol­i­cy makes sense for the broad­est pos­si­ble exposure.

“We believe Mag­ic Eden will be the default des­ti­na­tion for cre­ators and col­lec­tors on web3. In the long run, peo­ple will flock to Mag­ic Eden not because of a spe­cif­ic chain, but sim­ply because they love NFTs.”

Polygon has great symbiosis with Magic Eden

By the year’s end, Mag­ic Eden will start inte­gra­tion by com­menc­ing Polygon’s Launch­pad pro­gram. In tow are sev­er­al launch part­ners, includ­ing Kakao Games, Intel­la X, nWay, Block Games, Boom­land, Plan­et Mojo, and Taunt Battleworld.

In clar­i­fy­ing why it chose Poly­gon over oth­er options, the firm said Poly­gon has a strong track record in onboard­ing glob­al brands, adding that this com­ple­ments its vision to bring NFTs to the masses.

Also, with plans to expand its Web3 gam­ing strat­e­gy and Poly­gon already hav­ing a sol­id ros­ter of Web3 gam­ing projects enlist­ed, Mag­ic Eden said the part­ner­ship would help accel­er­ate its push for the gam­ing sector.

“Poly­gon is already home to some of the biggest Web3 gam­ing projects, includ­ing Sand­box, Atari, Sky­weaver, Mid­night Soci­ety, Met­al­core, Wild­card, and Zed Run.”

Solana developer sentiment

Recent events have called into ques­tion the Solana blockchain as a going con­cern. Being heav­i­ly backed by the defunct FTX exchange, the price of SOL suf­fered great­ly ver­sus non-relat­ed projects, with peak-to-trough loss­es com­ing in at ‑72%.

@analyticalali, an Engi­neer at cryp­to VC firm Rec­i­p­ro­cal Ven­tures, recent­ly sur­veyed 107 Solana devel­op­ers to gauge sen­ti­ment toward the project post-FTX-collapse.

In response to ques­tion 1 above, he dis­cov­ered that the major­i­ty, 50.5% of respon­dents, are not leav­ing Solana, with only less than 3% intent on switch­ing chains due to the fallout.

Inter­est­ing­ly, regard­ing ques­tion 6, 72% of respon­dents said FTX did not impact them as they had no expo­sure. The sub­se­quent most sig­nif­i­cant response to the ques­tion revealed that 15% of respon­dents were affect­ed by funds held on the bank­rupt exchange.

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