Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Magic Eden wants to dispute OpenSea’s NFT dominance

Magic Eden looks to challenge OpenSea’s NFT dominance

Except for Opensea, the crypto world’s few startups boast market dominance, but many venture-backed startups want to chip away at their lead.

The venture-backed startup with raising at a $1.6 billion valuation,
was launched last year and has already reached unicorn status. although for NFT traders in the Solana ecosystem to transact with the startup has become the default way when the marketplace has thrived, the team has refocused its ambition to take on OpenSea on its home turf.

This startup is interested in verticals like gaming not just being a hub for online art. it wants to be unique.

In an interview with Jack Lu a co-founder and CEO of fast-rising NFT marketplace Magic Eden told: “We’re not really a generalized marketplace that plays in every category, we don’t play in one-of-one fine art, we don’t do usernames or domain names,” and mention that the main focus of Magic Eden is “collectibles”, that comprise elements like avatars and profile photos, as well as NFTs related to gaming. Anita and Lucas want to focus on the pulse of crypto gaming in late summer 2022.

“There is no such thing as ‘web3 gamers,’ people who like playing games do not go looking to play a web3 game, they just want to play a game,” Lu says. “I think we’re going to see a shift where it’s pure game content developers who are masterful at developing game content and game loops themselves that are going to come into this space and are more into using web3 as an instrument… to realize some player goal or product goal within the game itself.”

Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Related Posts

Leave a Reply

Your email address will not be published.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