Magic Eden Unveils Cross-Chain Web3 Wallet to Public

Magic Eden, the leading cross-chain NFT marketplace, unveiled its self-custodial Web3 wallet yesterday. The wallet, which exists as a browser extension, serves the four blockchains that are supported on the platform: Solana, Polygon, Bitcoin, and Ethereum.

The new wallet has several features, including instant cross-chain swaps, top-ups, and bridging, the ability to view NFTs and their data directly from the wallet, functionality to trade SOL NFTs from the wallet, and native Ordinals and BRC-20 support.

In addition, Magic Eden’s wallet has direct connection to the company’s NFT platform, making it easier to trade. The marketplace partnered with Exodus to create the wallet, collaborating with Halborn to ensure transaction safety. Blowfish scans transactions for added security.

Magic Eden said in a blog post that, in the creation of its wallet, it looked at what was missing in the Web3 landscape, and it saw that it was a cross-chain wallet that allowed for the easy managing of NFTs.

As part of the promotion of the wallet, Magic Eden has partnered with three major NFT collections — Claynosaurz, Degenerate Ape Academy and BoDoggos — to give away special edition NFTs to early adopters. Plus, users in February will be eligible for multipliers on two airdrops.

Rarity Sniper has reached out to Magic Eden for comment.

Magic Eden Builds During Bear Market

Magic Eden has been one of the up-start NFT marketplaces for some time. It initially broke through the pack of Solana markets, then started added blockchains: First, Polygon in 2022, then Bitcoin and Ethereum in the same month in 2023. Now, it’s coming with a wallet, proving that, if nothing else, the team at Magic Eden builds.

Here are three stories about the current projects or plans from the marketplace.

First, last week, Magic Eden announced that traders on its platform would be rewarded with a crypto token called, aptly, “NFT.” The marketplace will issue the tokens to users based on their activity and loyalty, specifically for those using the protocols that Magic Eden governs.

Next, three months ago, Magic Eden and Yuga Labs announced plans to create an NFT marketplace that would honor creator royalties. At the time of the announcement, two NFT collections were already slated to participate: Twelvefold and 10KTF. The CEO of Magic Eden, Jack Lu, said creators are the heart and soul of the industry.

Lastly, five months ago, Magic Eden rolled out a $1 million Polygon Creator Fund that will focus on creators of NFT projects. The Fund’s website made mention that the bear market has not been easy on anyone, and as such the money will go to support up-and-comers.

As these stories show, Magic Eden has been busy during the bear market, creating many different products. Time will tell if the wallet is successful, but there’s no doubt the marketplace is continuing to build.