The non -fungible token market (NFT) Magic Eden has acquired Slingshot, a commercial application that allows users to see their encryption balance in multiple protocols.
Slingshot allows users to exchange tokens from a single universal balance of the USDC, eliminate obstacles such as wallet configuration, join assets through chains and juggles with gas rates, thus expanding Magic eden beyond Solana to each chain, including Bitcoin.
We have just acquired @SLingshotCrypto!
8m+ chips. Each chain (Bitcoin soon). No bridges. No CEXS. This is another important step towards our vision of providing the best platform to exchange all assets, in all chains.
Ah, Emmy already likes green. pic.twitter.com/qmalplzszb
– Magic Eden 🪄 (@magiceden) April 9, 2025
“This acquisition is a great step forward in the advancement of Magic Eden Vision, which is to provide users around the world a perfect and safe way to buy and sell digital and digital assets in all chains,” said Jack Lu, CEO and co -founder of Magic Eden in a blog post.
“The visionary team of pairing products with the best marketing and climbing capabilities of Magic Eden accelerates our ability to have an impact on the future of cryptography.”
Magic Eden says that the acquisition of Hilshot will reinforce his plans to offer more Fiat waves to Cristto through platforms such as Apple Pay and Venmo, and will introduce tools assisted by AI-AI for a easier discovery and trade of Token.
Magic Eden generated $ 75 million in NFT market revenues in 2024, according to a post on x of Lu. Lu said that the incorporation of Slingshot’s abstraction technology positions to compete effectively against centralized cryptography exchanges.
At the same time, this occurs as the NFT market continues to hire. A DAPPRADAR report shows that in 2024, NFT negotiation volumes fell 19% despite broad market execution. More recently, NFT Marketplace X2Y2 said it was closing its virtual doors that cite the volume of negotiation in decline.
