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Solana's largest NFT marketplace, Magic Eden, ventures into Ethereum! Offering free whitelist, lottery tools, and minting services.

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The largest NFT trading platform on Solana, Magic Eden, has accumulated a trading volume of $2 billion in the 10 months since its launch, with over 10,000 projects in the market, capturing over 90% of the trading volume on Solana. Now, in order to improve the transaction environment on Ethereum and expand the user experience of Magic Eden to more blockchains, it announced yesterday that it will enter the Ethereum market.

Magic Eden's Ambitious Plans

"Compared to other chains, the Ethereum NFT ecosystem is more mature. However, there is always room for improvement," said Magic Eden.

Before officially entering Ethereum, Magic Eden identified pain points in the NFT market on Ethereum and will make improvements in phases in the future.

Phase One: Explore and Trade Ethereum Collectibles

  1. Magic Eden List: Introducing a free whitelist and lottery tool, supporting NFTs on both Ethereum and Solana.
  2. Airdrop Calendar: This calendar will list the launch times of each project, and any project party can apply here.
  3. Buying Solana NFTs with ETH: Next week, the feature to purchase Solana NFTs with ETH will be launched, followed by credit card payment options.

Phase Two: Launching New Ethereum NFT Projects

In mid-August, the Ethereum project Lauchpad will be launched, providing comprehensive minting services. EZU will be the first project to be launched, available for minting with ETH or SOL.

Phase Three: More Collaborative Surprises

Magic Eden stated that they are currently negotiating with top projects on Ethereum to establish long-term partnerships, which may involve setting up exclusive custom markets or conducting joint marketing campaigns.

In the coming weeks, Magic Eden will release a test version of the Ethereum market, where users can browse and purchase NFTs on Ethereum. If you want to experience it in advance, you can apply by filling out the form.

Market Share Comparison

The largest trading market on Ethereum, OpenSea, also entered the Solana market in April this year. However, according to data on Dune Analytics here, OpenSea's performance has been less than ideal, with its trading volume still minimal, while Magic Eden has maintained its leading position.

Now, Magic Eden is sounding the charge with various new features, aiming to grab a slice of the Ethereum market share. How well they will perform is worth paying attention to.

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