Raydium and Magic Eden Join Forces
Written by Ryisan C. Oct.21,2021
Quick Points
- Magic Eden has seen massive growth in a short span of time.
- Raydium and Magic Eden join forces to boost the Solana NFT market.
Pure magic
Magic Eden has seen massive growth in a short span of time, within two weeks of going live, Magic Eden’s 24-hour trading volume reach a high of over 50 SOL, marking it as one of the fastest-growing marketplaces on the Solana network. The website has only been up for a little more than a month and already there is a trading volume of over 350K, stellar growth indeed.
The NFT community has fallen in love with Magic Eden’s key features such as bidding, rarity indexes, its own launchpad, and minting mechanisms. All of these key functions were brought to the market first by Magic Eden and NFT enthusiasts have been very impressed by the results.
The Dream Team?
This will be a massive deal for NFT artists and buyers as the deal brings with it a multitude of new features and capabilities that will make buying and selling NFTs even more efficient.
With this partnership, Raydium users will be able to natively trade NFTs right on the Raydium website. All projects will be dual-listed on the Raydium and Magic Eden websites thus doubling the engagement and liquidity of all projects. Raydium has swaps that allow users to easily swap their tokens for other tokens, this technology will be used in an integration where buyers can use any token to purchase an NFT. Raydium DropZone will also get preferred priority verifications on Magic Eden where new projects will be listed in less than 10 minutes on the platforms.
Mutually Beneficial
With this dual-pronged approach to marketing and implementation, Solana-native NFTs marketplaces will see an increase in their reach thus making NFTs more accessible to users in the ecosystem. This can only benefit everyone as this will increase demand and bolster the liquidity of NFTs.
Raydium has promised more news on their partnership but interested parties should stay tuned and keep an eye on their web pages and social platforms.
