Magic Eden is a leading NFT marketplace built on the Solana blockchain. In the interview, co-founder and COO Josin Cheng discusses the growth of NFTs on Solana, Magic Eden's business model, their upcoming Ethereum marketplace launch, supporting creators, and future opportunities like integrating additional blockchains.
Magic Eden was founded recognizing Solana's speed and scalability as an ideal foundation for NFT growth. They are seeing exploding activity recently across all chains they support, especially Solana. As an NFT marketplace and aggregator, their business model is to enable NFT creation and trade while taking a small cut of transactions. Features like cross-chain experiences and discovery tools aim to provide the best user experience.
A major upcoming milestone is Magic Eden's Ethereum NFT marketplace launch in early 2023, built with Yuga Labs, creators of Bored Ape Yacht Club NFTs. With a focus on empowering creators and sustainable business models, Josin believes no other NFT marketplace has taken this approach before. Beyond that, they hope to support additional chains like Avalanche and new technologies like IMX as the market continues rapidly evolving.
Ultimately, Magic Eden's vision is for NFTs to permeate many aspects of life, not just as collectible JPEGs. They enable experimentation by creators in linking NFTs to physical items, gaming integrations, and more. The company believes creators are essential for NFT adoption, so enabling them to find success is key. With exciting launches upcoming and a long-term outlook, Magic Eden aims to play a major role in the mass-market emergence of NFTs.
Guest: Zhuoxun Yin (Joshen), COO and Co-Founder of Magic Eden
Magic Eden website ➜ https://bit.ly/MagicEdenNFT
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