{"id":21427,"date":"2025-04-10T06:16:51","date_gmt":"2025-04-10T06:16:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21427"},"modified":"2025-04-10T06:16:51","modified_gmt":"2025-04-10T06:16:51","slug":"nft-marketplace-magic-eden-buys-trading-app-slingshot","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21427","title":{"rendered":"NFT Marketplace Magic Eden Buys Trading App Slingshot"},"content":{"rendered":"<div>\n<p>Non-fungible token (NFT) marketplace Magic Eden<a href=\"https:\/\/community.magiceden.io\/blog\/magic-eden-announces-acquisition-of-slingshot\" target=\"_blank\"> has acquired Slingshot<\/a>, a trading app that allows users to see their crypto balance across multiple protocols.<\/p>\n<p>Slingshot allows users to trade tokens from a single universal USDC balance, removing hurdles like wallet setup, bridging assets across chains, and juggling gas fees, thus expanding Magic Eden well past Solana to every chain, including bitcoin.<\/p>\n<p>\u201cThis acquisition is a major step forward in advancing the Magic Eden vision, which is to provide users worldwide with a seamless and safe way to buy and sell crypto and digital assets across all chains,\u201d Jack Lu, CEO and Co-Founder of Magic Eden said in a blog post. <\/p>\n<p>\u201cPairing Slingshot\u2019s team of product visionaries with Magic Eden\u2019s best-in-class marketing and scaling capabilities accelerates our ability to have an impact on the future of crypto.\u201d<\/p>\n<p>Magic Eden says the Slingshot acquisition will bolster its plans to offer more fiat-to-crypto onramps through platforms like Apple Pay and Venmo, and introduce AI-assisted tools for easier token discovery and trading.<\/p>\n<p>Magic Eden itself generated $75 million in NFT marketplace revenue in 2024, <a href=\"https:\/\/x.com\/0xLeoInRio\/status\/1910031277656334374\" target=\"_blank\">according to a post on X by Lu<\/a>. Lu said that incorporating Slingshot\u2019s abstraction tech positions it to effectively compete against centralized crypto exchanges.<\/p>\n<p>At the same time, this comes as the NFT market continues to contract. <a href=\"https:\/\/dappradar.com\/blog\/dapp-industry-report-2024-overview\" target=\"_blank\">A report from DappRadar<\/a> shows that in 2024, NFT trading volumes fell by 19% despite a broad market bull run. More recently, the NFT marketplace X2Y2 said its closing its virtual doors <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/31\/nft-marketplace-x2y2-to-shut-down-after-trading-volumes-collapsed\" target=\"_blank\">citing declining trading volume<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Non-fungible token (NFT) marketplace Magic Eden has acquired Slingshot, a trading app that allows users to see their crypto balance across multiple protocols. Slingshot allows users to trade tokens from a single universal USDC balance, removing hurdles like wallet setup, bridging assets across chains, and juggling gas fees, thus expanding Magic Eden well past Solana [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-21427","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/21427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21427"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/21427\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}