Polygon-purchased with Billion-$-NFT-Projekt, about the development of Blockchain-Spielen and Web3 to describe

• The NFT marketplace is now integrated into the Ethereum Layer 2 protocol, Polygon, as it aims to expand into the blockchain gaming ecosystem.
• Magic Eden’s profile continues to rise within the crypto space, even though it only started operations last year.

The popular multi-chain NFT marketplace Magic Eden is now part of the Polygon ecosystem as it looks to expand the development of exciting blockchain games and branding in the Web3 space.

Polygon welcomes Magic Eden

With its entry into the Polygon ecosystem, the NFT marketplace will use the Polygon network to delve deeper into the blockchain gaming and NFT space. In addition, the expansion will give the fast-growing NFT platform the ability to support Polygon’s range of features and serve its developers and creators.

Already, the collaboration has exposed Magic Eden to strategic partnerships with other world-class developers in the blockchain gaming industry. So far, the NFT marketplace has partnered with Kakao Games, Boomland, Block Games and others to debut another exciting gaming project at Polygon Launchpad in December.

The Polygon protocol is home to some of the industry’s biggest Web3 game projects, such as Ubisoft, Atari, Decentraland, Animoca Brands and The Sandbox. In addition, the Ethereum Layer 2 protocol has partnered with other non-crypto-related firms such as social media giant Instagram, Disney, Stripe and Starbucks.

Zhuoxun Yin, the co-founder of Magic Eden, noted that the integration into Polygon is an exciting phase in the history of the NFT market. Magic Eden’s drive is to achieve a multi-chain future to facilitate the platform’s growing profile in the digital asset industry.

With this integration, Magic Eden will continue to bring other global brands and new users into its ecosystem and continue to push Web3 games to its fans. Polygon also has a number of other Web3 players as partners. Therefore, Magic Eden is proud to find itself among them as it strives to discover more tools for NFTs.

The Polygon network currently supports over 37,000 decentralized apps (dApps); it also has close to 1.8 billion in processed transactions, as revealed by the information on the website. Furthermore, Magic Eden’s partnership with Polygon could pave the way for the NFT platform to take advantage of the additional opportunities in the ecosystem to expand its reach.

Magic Eden’s rising profile

Magic Eden was launched in September 2021 and has witnessed rapid growth in a reasonably short period of time. It has an average of 10 million active user activities per month, with more than 20,000 traded NFTs daily. Despite the current market correction, the NFT market continues to record steady market performance to consolidate its position as a fast-growing NFT platform in the industry.

In June 2022, Magic Eden raised $130 million in a fundraising event, pushing its market cap to $1.6 billion. Meanwhile, the platform’s current valuation is more than $2.5 billion in net NFT trading volume. However, the overall NFT market has been in a bearish phase for most of the year as total NFT sales continued to plunge consecutively for months since April, per multiple on-chain data.