{"id":272781,"date":"2022-11-23T22:00:21","date_gmt":"2022-11-23T16:30:21","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=272781"},"modified":"2022-11-23T12:40:15","modified_gmt":"2022-11-23T07:10:15","slug":"as-magic-eden-expands-to-polygon-here-is-what-you-should-know","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/as-magic-eden-expands-to-polygon-here-is-what-you-should-know\/","title":{"rendered":"As Magic Eden expands to Polygon, here is what you should know"},"content":{"rendered":"<ul>\n<li><em>Magic Eden announced that it now supports NFTs minted on the Polygon network.<\/em><\/li>\n<li><em>Poly-based NFTs have seen more sales in the last month than their counterparts on Ethereum and Solana.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Leading NFT marketplace Magic Eden took a step further in its multi-chain expansion as it <\/span><a href=\"https:\/\/blog.magiceden.io\/magiceden-polygon\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> support for non-fungible tokens (NFT) minted on Ethereum scaling layer-2 blockchain Polygon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While native to the Solana blockchain, Magic Eden commenced its cross-chain expansion in August when it launched its launchpad and aggregator on the Ethereum blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the decision to support Polygon-based NFTs, Zhuoxun Yin, the co-founder, and CEO of Magic Eden, in a <a href=\"https:\/\/polygon.technology\/blog\/magic-eden-comes-to-polygon-to-accelerate-blockchain-games-development\">press release<\/a> said,<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cOur expansion to Polygon is really exciting for two reasons: first, we\u2019ve always envisioned a cross-chain future for Magic Eden, and this brings us closer to uniting a broader audience who love NFTs\u2026 Second, given Polygon\u2019s popularity amongst game developers as a low-cost EVM-compatible chain, integrating Polygon will continue to cement Magic Eden as the go-to Web3 gaming platform. Game developers will now have the greatest optionality on Magic Eden; we can invest, launch collections, power in-game activity, and drive user acquisition for developers building on Polygon with Magic Eden.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">In the past few months, the layer 2 scaling blockchain has made the news for <a href=\"http:\/\/ambcrypto.com\/matic-holders-fail-to-see-relief-in-spite-of-nike-partnership-heres-why\/\">partnerships<\/a> with leading companies such as Nike, Coca-Cola, Disney, and even tech giant Meta.\u00a0<\/span><\/p>\n<h3><b>NFTs on the Polygon network\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Per data from NFTs data analytics platform <a href=\"https:\/\/cryptoslam.io\/blockchains\/polygon\">CryptoSlam<\/a>, the year so far has been marked by a decline in sales volume for Polygon-based NFTs. This is off the back of the general decline that has plagued profile-picture (PFP) NFTs since the year started.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to data from CryptoSlam, between January and October, Polygon-based NFTs sales volume dropped by 74%. For context, in January, the sales volume for Polygon-based NFTs totaled $50 million. However, by the end of October, only $13 million Polygon-based NFTs were sold.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Interestingly, in the last 30 days, NFT sales volume on Polygon exceeded the total sales recorded on both Ethereum and Solana blockchains. While NFT sales volume climbed by 34% on Polygon, it rallied by 31% on Ethereum and fell by 16% on Solana, data from CryptoSlam revealed.\u00a0<\/span><\/p>\n<figure id=\"attachment_272783\" aria-describedby=\"caption-attachment-272783\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58.png\"><img decoding=\"async\" class=\"wp-image-272783 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58.png\" alt=\"\" width=\"2560\" height=\"694\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58-300x81.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58-1024x278.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58-768x208.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58-1536x417.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-23-at-07.15.58-2048x555.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-272783\" class=\"wp-caption-text\">Source: CryptoSlam<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">That said, Polygon\u2019s native coin <a href=\"http:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\">MATIC<\/a> saw a positive price rally in the last 24 hours. According to data from <a href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\">CoinMarketCap<\/a>, the alt\u2019s price went up by 8%. In addition, the trading volume also grew by 36%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This represented a good attempt at recovery following the fallout caused by the sudden collapse of cryptocurrency exchange FTX.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Magic Eden announced that it now supports NFTs minted on the Polygon network. Poly-based NFTs have seen more sales in the last month than their counterparts on Ethereum and Solana. Leading NFT marketplace Magic Eden took a step further in its multi-chain expansion as it announced support for non-fungible tokens (NFT) minted on Ethereum scaling<a href=\"https:\/\/ambcrypto.com\/as-magic-eden-expands-to-polygon-here-is-what-you-should-know\/\">Continue reading <span class=\"sr-only\">&#8220;As Magic Eden expands to Polygon, here is what you should know&#8221;<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":272792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,3,4029,4,20],"tags":[2826,1266],"class_list":["post-272781","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-news","category-news","category-nft","category-social","category-trading-view","tag-magic-eden","tag-matic"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>As Magic Eden expands to Polygon, here is what you should know - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Leading NFT marketplace Magic Eden took a step further in its multi-chain expansion as it announced support for non-fungible tokens...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/as-magic-eden-expands-to-polygon-here-is-what-you-should-know\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As Magic Eden expands to Polygon, here is what you should know - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Magic Eden announced that it now supports NFTs minted on the Polygon network. 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