Magic Eden, one of many largest cross-chain non-fungible token market platforms, has acquired Slingshot, a famend crypto buying and selling app providing the simplest method to purchase and promote crypto and meme cash, to permit its customers to commerce crypto belongings throughout all blockchain networks. Slingshot is likely one of the first chain abstracted buying and selling apps that gives one common steadiness. On this article, we will have a look at app acquisition in depth.
We simply acquired @SlingshotCrypto!
8M+ tokens. Each chain (Bitcoin quickly). No bridges. No CEXs. That is one other main step in the direction of our imaginative and prescient of offering the very best platform to commerce all belongings, on all chains.
Oh, and Emmy likes inexperienced. pic.twitter.com/QmALplzSzB
— Magic Eden 🪄 (@MagicEden) April 9, 2025
Magic Eden Acquires Slingshot Crypto Buying and selling App
In an April 10 press launch, the Magic Eden workforce confirmed the acquisition of Slingshot, one of many quickest cross-chain buying and selling apps to purchase and promote crypto. Magic Eden NFT market anticipates leveraging the current funding to speed up its imaginative and prescient of offering all belongings on all blockchains to everybody. Whereas commenting concerning the Slingshot acquisition, Jack Lu, the CEO and Co-founder of Magic Eden, remarked:
“This acquisition is a serious step ahead in advancing the Magic Eden imaginative and prescient, which is to offer customers worldwide with a seamless and protected method to purchase and promote crypto and digital belongings throughout all chains. Pairing Slingshot’s workforce of product visionaries with Magic Eden’s best-in-class advertising and scaling capabilities accelerates our means to have an effect on the way forward for crypto.”
In flip, Clinton Bembry, the Co-founder and Chief Government Officer of Slingshot, remarked:
“We’re excited to affix forces with Magic Eden to alter the way in which the world trades crypto. Slingshot is pioneering essentially the most complete buying and selling infrastructure within the business, and alongside Magic Eden, we’re elevating the bar increased. Because the world leaves centralization prior to now, this transfer permits us to additional empower the person and make crypto extra accessible for everybody.”
How Does the Slingshot Buying and selling App Function?
Slingshot is a famend decentralized finance (DeFi) software that permits customers to swap over 50,000 crypto belongings throughout a number of blockchains with out utilizing centralized exchanges (CEXs) or bridging, providing a streamlined cross-chain buying and selling expertise. Slingshot operates as a crypto buying and selling app, which means it runs on a blockchain and doesn’t depend on a government to facilitate transactions. This enables for safer and clear crypto buying and selling.
To entry Slingshot, crypto customers should choose a pockets, guarantee they’ve fuel, discover a trusted bridge, transfer funds, after which can they purchase a token. Customers can entry any token on any blockchain with a common USDC steadiness. Crypto tokens can be found instantly, whereas spot and restrict orders are supported in a non-custodial, clear buying and selling platform. Collectively, Magic Eden and Slingshot will proceed to make crypto accessible and compete with centralized exchanges (CEXs).
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