A string of developments, even while enjoying the lion’s share of the market on Solana, has ensured that Magic Eden is beginning to surpass important milestones.
Solana’s Premier NFT Marketplace
Magic Eden has seen its volume soar past 10,000,000 SOL, and the team has no intention of resting on its laurels.
With the team having raised $27 million in funding just weeks ago, Magic Eden is swiftly pushing forward. The much-lauded NFT Marketplace announced the landmark figure through Twitter on April 13 and followed the initial celebratory tweet up with an even more ambitious target:
“The road to 100mil begins now 🚀 Maybe we can hit it by our birthday 👀💜,” the follow up tweet read.
The target of a 10x in volume from here is ambitious enough but when we consider the fact that Magic Eden’s ‘birthday’ is on September 14, we then gain a clearer idea of just how much progress the team are looking to make and in what kind of time scale.
The team has made huge strides this year and established itself as the premier NFT Marketplace on Solana, even though it was not necessarily the first. The determination of the team to keep churning out new developments like making the marketplace gamer-friendly or supporting the Metaplex Certified Collection standard, even while in pole position, has cemented their status in the ecosystem.
Web3Wire will be following closely to see how Magic Eden manages to maintain its stranglehold of the market share on Solana or whether Fractal or Solanart will pose a threat in the coming year.
What is Magic Eden:
Magic Eden is a Solana Network NFT platform that facilitates the buying, selling, and minting of NFTs. The NFT transactions are very similar to Ethereum transactions, except that users will have a 0% listing fee and only a 2% transaction fee, lowering the entry barriers for both new and experienced NFT buyers and creators. SOL tokens are the fee payment method. With a market share of more than 90% in secondary trading volume on Solana, Magic Eden offers the most liquidity to creators. Since its launch, Magic Eden has done $200M in trading volume in its first two months to become the dominant NFT platform on Solana.
Know more about Magic Eden
Source : web3wire.news
