The companies announced on Tuesday that they are integrating with the platform to dive deeper into the NFT community.
The co-founder and COO of MagicEden said that they are excited to integrate with Polygon. We are continuing to remove any chain specific barriers and open NFTs to the rest of the world.
The goal of the expansion is to support the game developers and creators. Some of the largest web3 gaming projects and publishers are hosted by the Polygon network.
Recently, Polygon has made headlines for partnering with non-native companies to integrate web3 technology into businesses.
Yin said that the integration would allow them to onboard more global brands and new users into the NFT marketplace. The gate for new users to discover the many utilities of NFTs has been opened by Polygon.
According to its website, the Polygon network has processed almost two billion transactions. It's possible that the expansion will allow Magic Eden to tap into its network.
MagicEden grew in popularity quickly after it was launched. It has about 10 million unique user sessions per month and sees over 20,000 NFTs traded daily. The company raised $130 million in June and has a valuation of over $1 billion.
Over $2 billion in total NFT trade volume has been achieved by MagicEden.
The NFT market has not been growing recently, as total sales have declined every month since the beginning of the year. The data shows that in the past 30 days, the sales volume of ether increased by 26%. The sales volume of NFT increased by 71% during that time.
Yin said that the launch pad and marketplace would go live next month and simplify the process for NFT creators.
There are platforms that allow web3 focused projects to build within a designatedBlockchain network. The NFT marketplace launchpad is a cross-chain on Solana, or both, and is responsible for 90 percent of all Solana-based NFT volume.
According to a statement, the integration will provide tools to creators including a launchpad and marketplace that is linked to MATIC. BORA, IntellaX, nWay, Block Games, Boomland, Planet Mojo, and Taunt Battleworld are just a few of the gaming developers that have committed to MagicEden.
Yin said that the partnership between MagicEden and Polygon would bring more gaming developers and NFT games to market.
Over 100 games have been brought to market by Magic Eden, he said. Although we are still in the early stages of mass adoption, we believe that MagicEden can add value.
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