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Magic Eden is preparing to launch its multi-chain wallet, designed to address fragmentation in the non-fungible token (nft) and cryptocurrency markets.
The goal is to provide a more seamless experience to users of different blockchain networks.
Magic Eden Cross-String Interactions
In a recent post on Platform
In November 2023, Magic Eden announced the launch of a multi-chain compatible crypto wallet browser extension, intended to simplify user interactions across multiple blockchains.
As stated by CEO and co-founder Jack Lu, this initiative aims to foster a multi-chain environment for NFTs, addressing the existing fragmentation and complexity in managing digital assets on various blockchains.
The launch of this wallet goes beyond the convenience of managing multiple assets in a single interface. It presents the potential for greater liquidity.
Unlike the usual practice of nft enthusiasts using multiple wallets for different blockchains, this innovative Magic Eden wallet will allow users to manage bitcoin, ethereum, Solana and Polygon assets all in one place, simplifying the user experience. user.
The bet is that it will reduce confusion, provide convenience to users and improve connectivity across various digital asset markets.
The notable feature of this wallet also includes self-custody, which requires users to independently manage their seed phrases.
The launch may open opportunities for cross-chain collaborations and interactions, making it easier for creators and collectors to explore and invest in NFTs from various ecosystems.
Magic Eden, which originated from Solana, has seen an increasing presence in trading on the bitcoin network, especially with the introduction of Ordinals.
In the current month, bitcoin NFTs have made up a significant two-thirds of the total market volume.
Additionally, the wallet could set a new standard for security and efficiency in nft transactions, given Magic Eden's reputation for innovation and user satisfaction. The multi-chain wallet is expected to incorporate the latest security measures and feature an intuitive user interface.
Magic Eden adds support for BRC-20 tokens
Last June, Magic Eden announced the launch of BRC-20 tokens. To purchase and collect BRC-20 tokens, users need a Taproot bitcoin-enabled wallet, such as Xverse Wallet.
Users can then buy, sell, deploy and mint their own BRC-20 tokens on Magic Eden.
The platform has been designed to provide a seamless experience to nft holders, allowing them to trade and cash out on multiple chains with ease.
Introduced by enigmatic developer Domo in March 2023, BRC-20 tokens emerged as a novel inclusion in the bitcoin (btc) landscape.
They allow the creation and transfer of fungible tokens through the Ordinals protocol on the bitcoin (btc) blockchain.
