Magic Eden is branching out from its NFT roots by buying Slingshot, a crypto buying and selling app recognized for its intuitive, cross-chain performance.
The transfer indicators the platform’s ambition to change into a complete vacation spot for every type of digital asset buying and selling—not simply collectibles.
With this acquisition, Magic Eden is shifting towards decentralized finance, searching for to rival centralized exchanges by providing a totally on-chain expertise. Slingshot, which has drawn practically one million customers because of its user-friendly interface, permits seamless token swaps throughout over ten blockchains—no bridging required. This method minimizes complexity and threat for customers.
Magic Eden plans to embed Slingshot’s tech into its personal platform, making a unified ecosystem able to supporting tens of millions of tokens, together with upcoming integration with Bitcoin-native property. The expanded options purpose to offer customers the ability and adaptability of decentralized buying and selling with out compromising on pace or ease of use.
CEO Jack Lu described the acquisition as a key milestone in constructing a platform that helps safe, cross-chain crypto buying and selling for a worldwide viewers. With crypto’s market capitalization now reaching $2.5 trillion, demand is rising for instruments that align with decentralization beliefs—safety, transparency, and person management—whereas providing a easy expertise for on a regular basis merchants.
Slingshot’s current recognition stems from its real-time listings throughout a number of chains and simplified onboarding course of. New customers can register with simply an e-mail and pay utilizing Apple Pay, Venmo, PayPal, or conventional playing cards—a uncommon comfort in DeFi.
Collectively, Magic Eden and Slingshot purpose to reshape the buying and selling expertise, presenting a viable various to centralized giants by mixing accessibility with on-chain empowerment.
