Magic Eden is one of the main NFT markets, mainly related to Solana NFTs. Other NFTs can also be traded on Magic Eden, the NFT market supports multiple blockchains.
However, the focus of the NTF market is on the trading of Solana NFTs.
To honor that focus, Magic Eden now offers Bonuses for customers which mainly trade Solana NFTs.
Those who buy Solana even have the option of NFTst charge on SOL get.
Magic Eden wants to expand Solana NFTs trading on its platform – Here’s how you can earn from it
As part of its promotion, Magic Eden brings together the various offers from other platforms to give customers a chance to discover the current ones Centrally manage NFT Solana.
Magic Eden already had one last year A valuation of over $1.6 billion. The startup is in the process of publicizing its smart contract to the market for this campaign.
Also the new annihilation as it is called Co-Signature Feature at Magic Eden.
This previously prevented other NFT marketplaces from aggregating Magic Eden offerings in the same way. Naturally, this had a negative impact on business operations.
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— Magic of Eden (@MagicEden) May 25, 2023
Magic Eden has been at the forefront of NFTs on the Solana platform since its inception, standing out for its high revenue and massive traffic. Every month it is from over 10 million people visit and will millions of transactions daily was done.
On Magic Eden, users have an opportunity Create, sell and buy NFTs, no subscription fees. However, all transactions are subject to a two percent fee.
Magic Eden plans to be more open to collaborating with other NFT markets in the future
The creators of NFT have the freedom of their Magic Eden set their own license fees and to resolve them after the sale. The platform supports them to mine their collections even if they do not have technical resources.
To do this, there is a limit to the number of projects allowed on the market.
So far, the market has hosted famous NFT projects such as Galactic Geckos, Shadowy Super Coders DAO, Portals and many more. good wallet Ghost, Slope, Sollet, Solflare, Clover, Ledger, Slong and MathWallet to connect with Magic Eden.
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— Magic of Eden (@MagicEden) May 26, 2023
At the end of 2021, Magic Eden is essentially the most famous and largest market for Solana NFTs. However, the platform is somewhat isolated with closed source code and various other limitations.
This did not go down too well with customers and other platforms, as it seems that Magic Eden is trying to establish a monopoly, or at least a strong role, in the trading of Solana NFTs, using unfair means.
Magic Eden wants to do this better in the future and is therefore working on its image as well as cooperation with other NFT markets and different platforms.
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— Magic of Eden (@MagicEden) May 27, 2023
Does Magic Eden continue to rely on a trust agreement with its customers? How to get money for transactions
At this time, it is uncertain whether Magic Eden will continue to rely on a trust agreement to manage its clients’ NFTs.
As part of its current relaunch, however, Magic Eden is asking for its share Maker fee reduced to -0.25% for certain trades.
Expressed in a simple way: Customers get cash for transactions and don’t have to pay anything.
Example: NFT customer lists for 100 SOL. For sale, he will receive a credit of 100.25 SOL
Tensor is becoming more popular – is Magic Eden feared and rewarded as a result?
In recent weeks, the NFT market More tension and more NFT transactions completed, especially in the Solana NFT area.
meanwhile yes Tensor even surpassed Magic Eden as the leading marketplace for Solana NFTs.
As well as that Tensor pays premiums for transactionsresulting in an increasing number of NFT clients switching from Magic Eden to Tensor from March 2023.
Both platforms currently have a market share of almost 45% when it comes to trading Solana NFTs.
That’s changing week by week though, and right now Tensor seems to be slightly ahead.
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— tensor | NFT Trading Pro (@tensor_hq) May 25, 2023
Of course, Magic Eden is not happy with the development, so it is expected that there will be more offers for customers in the future that will make Solana-NFT trading on their own platform more profitable.
Magic Eden vs Tensor Battle A Reminder on OpenSea vs Blur – What Does It Mean for NFT Trading?
Tensor’s actions are reminiscent of the Ethereum market obscurewhich OpenSea similarly attacked.
Blur is a competitor to the famous OpenSea NFT market. Meanwhile, Blur took the importance and capitalized OpenSea took off as the most important NFT market. More than half of the current NFT trade volume is currently being processed on Fuzzy.
Blur is currently very active in the field of Etherum trading and offers imaginative concepts, for example to generate returns with Ethereum loans.
BLUR is an NFT marketplace that provides advanced features such as real-time pricing, feeds and portfolio management. The IS BLUR Coin serves as a native payment method.
Fuzzy is now one of the trending coins in 2023, enabling strong price increases. New promotions can help BLUR’s price increase, and Blur has already announced that it will be rolling out more “big products” using Blend as its foundation in the coming months.
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— Fuzzy (@[email protected]_io) May 1, 2023
There are many similarities between Blur and Tensor and the competition between Blur/OpenSea and Tensor/Magic Eden has similar characteristics. There are already rumors that Tensor is planning to release a new cryptocurrency as well.
Blur did the same and his BLUR sign was a huge success. So it’s unlikely that something from Tensor comes here as well. Time will tell. However, Magic Eden has now responded by using open source code.
In addition there is Magic Eden also present on the blockchains of Ethereum, Bitcoin and Polygon active. However, according to those responsible at Magic Eden, this should not imply that Solana is no longer the most important blockchain for Magic Eden. This is also demonstrated by the current actions.
