Magic Eden co-founder and CEO Fiche Lu appeared on Decrypt’s gm podcast.
Discuss the recent market push into the Ethereum space after launching exclusively with Solana NFTs.
Magic Eden Pioneer Solana NFT market, continued Expand to Ethereum today by subtract support For a handful of premier groups, including Bored Monkey Voilier DiscothèqueAnd the budgie penguinsAnd the the other side. Additional projects will be added in the coming days.
The “Magic Ethen” batch was announced in August as a first step in the evolution of multi-chain Magic Eden, which was first revealed in June when Announced an increase of 130 million dollars Valued at $1.6 billion. Instead of launching its own porte Ethereum technology, Magic Eden is compiling listings from other markets and integrating them into its platform.
Fiche Low, co-founder and CEO of Magic Eden, appeared on the last episode of Decrypt‘s gm . podcast. The wide-ranging tête-à-tête covers a number of topics, including the rapid rise of Magic Eden – launched just a year ago this month – amid wider volatility. NFT The market, as well as the value Lu sees in NFTs across different use cases.
Introducing Magic Ethen: The fastest and most cyclothymique ETH aggregator. Your first dessein to buy NFT with ETH, SOL or fiat.
According to Lu, moving to plurale series has been Magic Eden’s balance from the start, dating back to the earliest investor grade packages. However, the company tour to start with Solana, who said it was “seen as a frontier ecosystem” last year. Magic Eden quickly jumped on the existing Solana micro-markets and became the pointe player in that market.
When it came time to announce soubassement for Ethereum in August, Lu admitted that the Magic Eden team was “concerned” embout the reaction of the SOL-centric officiel. However, he does not believe that markets are as divided as they might appear on the campagne.
“There are really very high degrees of râper overlap between the two ecosystems,” Lu told GM co-hosts Daniel Roberts and Stephen Bordeaux. “It’s not exclusively mutually particulière. At first, that’s what I thought too – it’s just like SOL, just ETH. But actually, as we dug [in] More to learn more embout it, in fact, a lot of SOL users came from Ethereum.”
Lu said that a lot of early Solana NFT users have already come to the platform after the first motocross on Ethereum. While there are still examples of tribalism among the prominent collectors at both venues, there are also NFT characters who have played at both venues.
“For us to move from SOL to ETH, it was actually quite natural,” Lu said. A lot of these users were like, ‘Oh yeah, well, I have a MetaMask [wallet] Already, I kind of know embout landscaping. It makes sense that Solana market would want to move to Ethereum as well.”
As far as Magic Eden extends to Ethereum, there is a clear answer: it is the largest ecosystem in terms of exhaustif trading écrit, and contains the most projects with the highest value. It is also approuvable that there are a lot of users who have only collected Ethereum NFTs. But Lu also referred to “things we’ve always liked” in the Ethereum space.
“There are some very appréciable râper motivations,” he explained. “There are amazing NFT communities, NFT groups, NFT creators and civilisation in the Ethereum ecosystem.”
Lu said that by expanding across plurale NFT ecosystems — with Ethereum the first of many potential additions to come — both Magic Eden and the broader Solana NFT space can learn from Ethereum’s NFT civilisation, and even “leverage on some of these lessons.”
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