DeFi Daily News
Sunday, June 22, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi NFT

rewrite this title and make it good for SEO NFT Marketplace Magic Eden Buys Trading App Slingshot to Diversify Business

Maisie Morrison by Maisie Morrison
April 10, 2025
in NFT
0 0
0
rewrite this title and make it good for SEO NFT Marketplace Magic Eden Buys Trading App Slingshot to Diversify Business
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1200 words and keep HTML tags

TLDR

Magic Eden has acquired trading app Slingshot to expand beyond NFT marketplace services
The acquisition enables cross-chain trading without bridging across 10+ blockchains
Slingshot has nearly 1 million users and supports email login with multiple payment options
The combined platform will support over 5 million tokens with Bitcoin-native tokens coming soon
Magic Eden aims to create an all-encompassing trading platform that rivals centralized exchanges

Magic Eden, a leading NFT marketplace, has announced its acquisition of Slingshot, a popular crypto trading app, in a move that marks the company’s expansion beyond digital collectibles into broader cryptocurrency trading services. The acquisition represents Magic Eden’s strategic shift toward becoming a comprehensive trading platform that can compete with centralized exchanges while maintaining on-chain transactions.

The deal comes as Magic Eden looks to diversify its offerings while the NFT market faces challenges. According to recent data, NFT trading volumes fell by 19% in 2024 despite the broader cryptocurrency market experiencing a bull run. This contraction has already forced some NFT marketplaces like X2Y2 to shut down due to declining trading volume.

Magic Eden CEO Jack Lu explained the company’s vision in a blog post: “This acquisition is a major step forward in advancing the Magic Eden vision, which is to provide users worldwide with a seamless and safe way to buy and sell crypto and digital assets across all chains.”

Streamlined Cross-Chain Trading

Slingshot has gained popularity for its approach to simplifying cryptocurrency trading across multiple blockchains. The platform allows users to trade tokens from a single universal USDC balance, eliminating common obstacles in the crypto space.

Users no longer need to set up multiple wallets, bridge assets between different chains, or manage various gas fees. This technology significantly expands Magic Eden’s reach beyond its Solana roots to every blockchain, including Bitcoin.

The streamlined experience has helped Slingshot attract nearly 1 million users to date. The platform has seen increased interest in recent weeks as one of the few services that lists every token across more than 10 blockchains in real-time.

User-Friendly Features

A key aspect of Slingshot’s appeal is its accessibility for newcomers to cryptocurrency. The platform allows users to sign up with just an email address and supports payments through familiar methods like Apple Pay, Venmo, PayPal, and traditional credit or debit cards.

Magic Eden plans to build on these features by offering more fiat-to-crypto onramps and introducing AI-assisted tools to help users discover and trade tokens more easily. These enhancements aim to make cryptocurrency trading more accessible to the average person.

Industry Context

The acquisition takes place against the backdrop of a growing cryptocurrency industry, now valued at $2.5 trillion. There’s an increasing shift toward decentralized infrastructure, driven by concerns about transparency, security, and user control.

While centralized exchanges have dominated cryptocurrency trading, critics argue they contradict the fundamental principles of crypto by creating single points of failure. Magic Eden’s move represents part of a broader industry trend toward providing alternatives that give users more control over their assets without sacrificing convenience.

Magic Eden itself has been performing well, generating $75 million in NFT marketplace revenue in 2024, according to a post by CEO Jack Lu on X. Lu believes that incorporating Slingshot’s technology positions the company to effectively compete against centralized crypto exchanges.

The combined platform will support over 5 million tokens already available on Slingshot. According to the announcement, Bitcoin-native tokens, also known as “runes,” will soon become available for trading through the platform.

Clinton Bembry, Co-Founder and CEO of Slingshot, expressed enthusiasm about the merger: “We are excited to join forces with Magic Eden to change the way the world trades crypto. Slingshot is pioneering the most comprehensive trading infrastructure in the industry, and alongside Magic Eden, we are raising the bar higher.”

For Magic Eden, the acquisition represents a logical next step in its evolution. By pairing Slingshot’s product development team with Magic Eden’s marketing and scaling capabilities, the company aims to have a greater impact on the future of cryptocurrency trading and adoption.

The transaction details and financial terms of the acquisition were not disclosed in the announcement.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: appbusinessbuysdiversifyEdenGoodMagicMarketplaceNFTrewriteSEOSlingshottitleTrading
ShareTweetShare
Previous Post

rewrite this title Q1 2025 Credit Commentary Trump 2.0 Effect On Munis And Other Challenges

Next Post

rewrite this title and make it good for SEO OpenSea Requests SEC Exemption for NFT Marketplaces from Exchange Regulations

Next Post
rewrite this title and make it good for SEO OpenSea Requests SEC Exemption for NFT Marketplaces from Exchange Regulations

rewrite this title and make it good for SEO OpenSea Requests SEC Exemption for NFT Marketplaces from Exchange Regulations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Changelly Collaborates with BRLA Digital and Announces Zero-Fee Campaign – Cryptocurrency Insights & Trading Guidance on Changelly’s Blog

Changelly Collaborates with BRLA Digital and Announces Zero-Fee Campaign – Cryptocurrency Insights & Trading Guidance on Changelly’s Blog

July 25, 2024
Boeing machinists refuse latest offer, prolonging bruising six-week strike

Boeing machinists refuse latest offer, prolonging bruising six-week strike

October 23, 2024
CRYPTO IS DUMPING DUE TO THIS… What Comes Next?

CRYPTO IS DUMPING DUE TO THIS… What Comes Next?

June 13, 2025
Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

August 9, 2024
I Built The DREAM Office Setup!

I Built The DREAM Office Setup!

November 30, 2024
rewrite this title XRP vs SEC: Legal Expert Says Ripple Is Delaying The Lawsuit

rewrite this title XRP vs SEC: Legal Expert Says Ripple Is Delaying The Lawsuit

June 19, 2025
rewrite this title Rodrygo, Sesko or Gyokeres: Who could be the answer to Arsenal’s striking dilemma this summer? – Soccer News

rewrite this title Rodrygo, Sesko or Gyokeres: Who could be the answer to Arsenal’s striking dilemma this summer? – Soccer News

June 22, 2025
rewrite this title Best AI Tools for Generating Realistic Videos: 2025 Review & Rankings

rewrite this title Best AI Tools for Generating Realistic Videos: 2025 Review & Rankings

June 22, 2025
rewrite this title Today's NYT Connections: Sports Edition Hints, Answers for June 23 #273

rewrite this title Today's NYT Connections: Sports Edition Hints, Answers for June 23 #273

June 22, 2025
rewrite this title Gracy Chen, the rare but glorious woman behind Bitget’s epic growth

rewrite this title Gracy Chen, the rare but glorious woman behind Bitget’s epic growth

June 22, 2025
rewrite this title Everybody loves Raymond — but not a reboot of it; Brad Garrett shuts down any hope for a follow-up

rewrite this title Everybody loves Raymond — but not a reboot of it; Brad Garrett shuts down any hope for a follow-up

June 22, 2025
I Found Mold In My House One Month After Purchasing It, Now I’m Homeless

I Found Mold In My House One Month After Purchasing It, Now I’m Homeless

June 22, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.