NFT marketplace Magic Eden announced on Tuesday that it is integrating with Ethereum scaling layer-2 blockchain Polygon to further explore blockchain gaming and NFT ecosystems.
In a statement to TechCrunch, Magic Eden co-founder and COO, Zhuoxun Yin said, “We are excited to integrate with Polygon and continue our pursuit of a multichain future for Magic Eden. By offering this integration, we are continuing to remove any chain-specific barriers and open NFTs to the masses.”
With the partnership, Magic Eden will be able to support Polygon’s community of game designers and creators.
Polygon has recently been in the news after partnering with non-crypto-native companies like Instagram, Stripe, Disney, Starbucks and Robinhood to help integrate web3 technology in their business.
Furthermore, some of the largest web3 game projects and companies, including Ubisoft, Atari, Animoca Brands, Decentraland, and Sandbox, are hosted on the Polygon network.
“The integration will allow us to onboard more global brands and new users into the NFT marketplace, while continuing to bring web3 games to the masses. Polygon has already brought many recognized brands into web3, which opens the gate for new users to discover the many utilities of NFTs,” Yin added.
According to data from CryptoSlam, overall NFT sales have fallen every month since April, indicating that the NFT market hasn’t been expanding lately. However, the statistics showed that over the past 30 days, Ethereum NFT sales volume has climbed by around 26% whereas Solana NFT sales volume has declined by almost 20%. With a 71% rise in NFT sales volume over the same period, Polygon outpaced both the Ethereum and Solana blockchains.
Yin also said, “Our entry into Polygon will include a launchpad and marketplace, both of which will go live next month and simplify the process for NFT creators and collectors.”
According to Magic Eden’s website, their NFT marketplace launchpad accounts for 90% of all Solana-based NFT volume and is a cross-chain on either Ethereum or both blockchains. Crypto launchpads are also known as crypto incubators where Web3-focused projects can be developed.
With the new integration between the companies, they are claiming to provide resources like a launchpad and marketplace connected to Polygon’s native token “MATIC” to the creators.
According to Yin the partnership between Magic Eden and Polygon targets to bring more gaming developers and NFT games to the market in the long term. Currently, over 100 games have been introduced across layer-1 blockchains Solana and Ethereum by Magic Eden.
“Although we’re still in the beginning stages of mass adoption for blockchain games, we believe that Magic Eden can add value here,” Yin added.