Magic Eden Launches Multi-Chain Wallet Compatible with 4 Blockchains

Magic Eden Launches Multi-Chain Wallet Compatible with 4 Blockchains (Image: NFT News Today)

NFT marketplace Magic Eden has officially launched a multi-chain wallet supporting 4 different blockchains: Solana, Bitcoin, Polygon, and Ethereum, following a two-month beta run since late last year.

In collaboration with Exodus, Magic Eden aims to introduce a user-friendly wallet design with diverse functionalities ranging from instant cross-chain transactions to NFT trading and direct investment portfolio management within the wallet.

To attract new users, Magic Eden is currently offering limited minting of NFT collections such as Claynosaurz, Degenerate Ape Academy, and BoDoggos throughout February, promising airdrops and various exclusive perks.

Initially focused on serving the Solana NFT community, Magic Eden expanded into the Polygon ecosystem by November 2022, subsequently adding support for Bitcoin and Ethereum chains. However, these efforts to expand market share have led to Magic Eden's leading position being challenged by competitors like Tensor last year.

Daily transaction volume of top Solana NFT marketplaces. Source: The Block

According to data from The Block, Magic Eden ranks as the second-largest platform for daily Bitcoin Ordinals NFT transactions, trailing only OKX.

Transaction volume of leading Ordinals Marketplaces. Source: The Block