Magic Eden NFT Marketplace Adds Polygon to Supported Chains, Targets Web3 Games By DailyCoin

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Mag­ic Eden NFT Mar­ket­place Adds Poly­gon to Sup­port­ed Chains, Tar­gets Web3 Games

Lead­ing cross-chain NFT mar­ket­place Mag­ic Eden has announced it is inte­grat­ing the Poly­gon net­work into its list of sup­port­ed chains. The cross-chain NFT mar­ket­place aims to cat­alyze the devel­op­ment of excit­ing games and glob­al brands tran­si­tion­ing into Web3 in order to wel­come the next wave of users into the metaverse. 

Mag­ic Eden pre­vi­ous­ly sup­port­ed and Ethereum-based NFTs on its mar­ket­place. Fol­low­ing the announce­ment, the NFT mar­ket­place will wel­come Polygon’s Web3 gam­ing sphere into its mar­ket­place for mil­lions of users.

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Setting the Foundation for Web 3.0

Poly­gon is unde­ni­ably one of the most effec­tive scal­ing solu­tions for the blockchain. The net­work valiant­ly sup­port­ed Ethereum dur­ing the DeFi boom. This was when Ethereum’s scal­a­bil­i­ty issues, such as high-gas fees, low through­put, and slow trans­ac­tions, were at their height. 

Poly­gon quick­ly rose in pop­u­lar­i­ty by work­ing in tan­dem with Ethereum dur­ing the NFT craze, pro­vid­ing a low-fee and high-speed net­work to exe­cute trans­ac­tions on Ethereum. Today, it is home to some of the best Web3 gam­ing projects and devel­op­ers, includ­ing Ubisoft, Atari, Ani­mo­ca Brands, and Decentraland. 

Mag­ic Eden’s expan­sion to Poly­gon will enable the cross-chain NFT mar­ket­place to work close­ly with strate­gic IP own­ers, world-class game devel­op­ers, and upcom­ing artists. The NFT mar­ket­place claims to pur­sue a mul­ti-chain future, mak­ing the inclu­sion of Polygon’s col­or­ful ecosys­tem a mile­stone achievement. 

Start­ing from Solana and first going cross-chain with Ethereum, Mag­ic Eden has set a prece­dent for its vision. The NFT mar­ket­place has suc­cess­ful­ly launched over 20 projects and raised over 5,000 ETH tokens since it inte­grat­ed Ethereum. 

Mag­ic Eden’s entry into Poly­gon will com­mence with a launch­pad and mar­ket­place, both of which will go live next month. 

Lead­ing Web3 game devel­op­ers like Kakao Games, Intel­laX, Boom­land, Block Games, Plan­et Mojo, Taunt Bat­tle­world, and more are ready to debut on the Mag­ic Eden Poly­gon Launch­pad. The projects can ben­e­fit from Mag­ic Eden’s indus­try-lead­ing dis­tri­b­u­tion, mar­ket strat­e­gy and exper­tise, project plan­ning, and Web3 net­work and community. 

Sub­se­quent­ly, once the launch­pad is live, Mag­ic Eden is kick­start­ing its MAT­IC-com­pat­i­ble NFT mar­ket­place. It will ben­e­fit cre­ators and artists through enforced roy­al­ties and inno­v­a­tive mon­e­ti­za­tion mech­a­nisms. More­over, the NFT mar­ket­place has announced rolling out addi­tion­al Poly­gon sup­port for NFTs. These include Mag­ic Eden List, Mag­ic Eden’s audi­ence tar­get­ing and whitelist­ing tool, Drop Cal­en­dar, and ana­lyt­ics tools that can opti­mize NFT dis­cov­ery and trading. 

“We have seen NFTs reach a cul­tur­al inflec­tion point across chains and are excit­ed to fur­ther sup­port that with our Poly­gon inte­gra­tion,” said Jack Lu, Co-Founder and CEO of Mag­ic Eden. “The Poly­gon net­work’s col­lab­o­ra­tion with some of the most rec­og­nized busi­ness­es and IPs, com­bined with its low-cost, high-speed pro­to­col, will allow us to fur­ther expand our mis­sion to onboard new users to Web3 by allow­ing cre­ators to reach dig­i­tal com­mu­ni­ties and devel­op high­ly-playable games.”

On the Flipside

  • Mag­ic Eden’s iden­ti­fi­ca­tion process has a his­to­ry of being exploit­ed. The plat­form expe­ri­enced numer­ous high-pro­file rug pulls ear­li­er this year, with projects like ‘King of Chess’ and ‘Bal­loonsville’ ulti­mate­ly turn­ing out to be scams, swin­dling over $600,000 from investors, and expos­ing sig­nif­i­cant flaws in their policies. 
  • Mag­ic Eden was involved in a con­tro­ver­sy last month. Degen Town, an NFT col­lec­tion fea­tur­ing vibrant­ly col­ored humanoids heav­i­ly pro­mot­ed by the plat­form, was report­ed­ly hacked, drain­ing users’ wal­lets. How­ev­er, the NFT mar­ket­place lat­er announced it was refund­ing users’ funds in col­lab­o­ra­tion with Hel­lo Moon, a Solana-based DeFi and NFT ana­lyt­ics platform.

Why You Should Care

Mag­ic Eden aims to build a hub for cre­ators and col­lec­tors to meet in Web3. The NFT mar­ket­place envi­sions an open and inter­op­er­a­ble cross-chain econ­o­my. The cross-chain mar­ket­place believes in cater­ing to all users and giv­ing them oppor­tu­ni­ties and free­doms, regard­less of what net­work or chain these projects are host­ed on. 

Mag­ic Eden’s expan­sion to Poly­gon will be a mon­u­men­tal step for unit­ing projects from Solana, Ethereum, and oth­er future chains. Projects no longer have to restrict them­selves to the audi­ence of one chain when they launch on Mag­ic Eden. Con­verse­ly, col­lec­tors on the plat­form can access more oppor­tu­ni­ties and options on anoth­er platform. 

Web3 is an open, shared, bor­der­less space with end­less oppor­tu­ni­ties. Web3 projects should keep that in mind when build­ing, as the lines of indi­vid­u­al­i­ty blur in this space. 

Mag­ic Eden’s Lat­est Controversy: 

Mag­ic Eden Starts Refund­ing Wal­lets Affect­ed By Degen Town Drain

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