• TEXT= DATE: 27.04.2025 Blink Game AI  |  IDO  | GameFi
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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
  • usd-coinUSDC (USDC) $ 0.996294 0.34%
  • staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 5.1 Gwei
 

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Magic Eden Slingshot acquisition

Magic Eden Slingshot acquisition expands cross-chain NFT trading and crypto accessibility

https://icn.live/wp-content/uploads/2025/04/mAGIC.mp3
  • by ICN.live
Leila Al-Khatib

Magic Eden Slingshot acquisition is a bold move aiming to reshape how users trade crypto and NFTs across chains.

Magic Eden, a prominent NFT marketplace, has announced its acquisition of Slingshot, a trading app that lets users trade tokens using a unified USDC balance. This development eliminates the need for multiple wallets, bridges, or juggling gas fees. By acquiring Slingshot, Magic Eden is expanding well beyond its Solana roots to support assets across all major blockchain protocols, including Bitcoin.

Jack Lu, CEO and Co-Founder of Magic Eden, emphasized this move as a major step toward a safer, smoother multi-chain trading experience. With this acquisition, Magic Eden plans to integrate fiat-to-crypto on-ramps through platforms like Apple Pay and Venmo. The company also plans to roll out AI-powered tools to simplify token discovery and improve the user trading experience.

Expanding from NFTs to full-stack crypto trading

Slingshot brings valuable abstraction technology that reduces user friction. Its design aligns perfectly with Magic Eden’s aim to become a centralized hub for decentralized assets. Lu highlighted how the Slingshot team’s product-driven mindset pairs well with Magic Eden’s strengths in scaling and marketing.

This acquisition not only enhances crypto usability but also positions Magic Eden to compete directly with centralized exchanges. Despite the ongoing NFT market slump, Magic Eden generated $75 million in revenue in 2024, showing resilience and long-term commitment.

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Magic Eden Slingshot acquisition bridges Web2 payment tools with Web3 assets

Another major value driver of the Magic Eden Slingshot acquisition is the fiat integration. Making crypto more accessible through payment methods like Apple Pay and Venmo reduces entry barriers. This could bring in Web2 users unfamiliar with crypto wallets and technical processes.

AI-assisted discovery features are also in development. These tools will help users navigate thousands of tokens with ease, unlocking smarter, more intuitive trading flows.

NFT volumes fell by 19% in 2024, and marketplaces like X2Y2 are shutting down. Still, Magic Eden continues building aggressively. This acquisition shows that it believes the future lies in cross-chain liquidity and trading simplicity, not just speculative JPEGs.

By acquiring Slingshot, Magic Eden is setting a new standard for what an NFT platform can be.

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What is the Magic Eden Slingshot acquisition all about?

Magic Eden acquired Slingshot, a trading app, to broaden its crypto ecosystem. Slingshot allows users to trade tokens using a single USDC balance, eliminating traditional crypto barriers like wallet setups and gas fees. By integrating this into Magic Eden’s NFT marketplace, users will gain access to smoother, multi-chain trading. The goal is to make buying, selling, and managing crypto assets as simple as using Apple Pay or Venmo.

How will this acquisition impact users?

Users will benefit from a significantly simplified trading process. The integration of fiat onramps (like Apple Pay and Venmo) means that anyone can jump into crypto without needing a crypto wallet first. AI-assisted token discovery and trading tools will also be introduced, making the platform more intuitive for both newbies and pros.

Does this mean Magic Eden will no longer focus on NFTs?

Not at all. While NFT trading remains core to Magic Eden’s offering, the acquisition signals a broader expansion into crypto trading. With Slingshot’s abstraction layer, Magic Eden can now support asset movement across all chains. This improves the NFT experience and opens doors to new kinds of decentralized finance interactions.

Is Magic Eden going against the trend with this move?

Yes, and that might be a good thing. While others like X2Y2 are shutting down, Magic Eden is doubling down on innovation. The NFT market may be shrinking, but Magic Eden is building a future-ready platform by focusing on accessibility, user experience, and cross-chain functionality. This sets it apart from rivals stuck in single-chain ecosystems.

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