**Magic Eden Expands Beyond NFTs with Slingshot Acquisition**
Magic Eden, a renowned NFT marketplace, has acquired the crypto trading app Slingshot in a strategic move to broaden its platform beyond NFTs and digital assets. The acquisition, announced via a press release, signifies Magic Eden’s ambition to evolve into a comprehensive trading platform covering all cryptocurrencies.
Slingshot, known for offering user-friendly crypto purchasing and cross-chain trading without the need for bridging, will enable Magic Eden to facilitate seamless trading across multiple blockchains. This aligns with Magic Eden’s goal to become a leading platform for trading all types of digital assets.
The app currently supports more than 10 blockchains and offers over 8 million tokens, with plans to include Bitcoin-native tokens, known as ‘runes’, soon. Slingshot’s capabilities also include a fiat on-ramp via Apple Pay, PayPal, Venmo, and credit/debit cards, appealing to both casual and advanced traders.
Jack Lu, CEO and Co-Founder of Magic Eden, praised the acquisition as a pivotal step in fulfilling the company’s vision to offer a seamless and secure trading experience across all blockchain networks. Clinton Bembry, CEO of Slingshot, emphasized the partnership’s role in decentralizing crypto trading and enhancing accessibility.
Magic Eden has been actively expanding its services beyond NFTs, including the introduction of the ME token for cross-chain trading and plans to launch a dedicated US domain. This acquisition underscores Magic Eden’s commitment to supporting a diverse range of digital assets and blockchain interactions.
