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OpenSea’s Rival NFT Marketplace Magic Eden Announces Support For Ethereum NFTs

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OpenSea’s Rival NFT Marketplace Magic Eden Announces Support For Ethereum NFTs
  • Leading Solana NFT Marketplace Magic Eden announces support for Ethereum NFTs
  • The firm will also be adding comprehensive features to allow users to trade ETH NFTs and make payments in SOL/ETH or via credit cards. 

Magic Eden, the Solana-centric NFT platform is expanding its base and has recently announced multichain support for the Ethereum blockchain. 

Per the official press statement, Magic Eden will soon be integrating Ethereum NFTs on its platform, giving users a chance to explore and trade suitable SOL and ETH NFTs with credible ease. 

Magic Eden Set To Integrate Support For Ethereum NFTs. 

Solana-based Magic Eden is leveling up by adding support for Ethereum NFTs. In its recently released press statement, the firm announced its decision to add Ethereum NFTs to its platform. 

The statement further states how the addition of Ethereum NFTs on Magic Eden will help the firm solidify its stance and offer a comprehensive virtual experience to numerous NFT enthusiasts and collectors. 

This news accelerates Magic Eden’s efforts to extend its presence across Web3 communities by integrating the two largest blockchains for NFTs and delivering the most feature-rich multi-chain experience for creators and collectors.”

In addition to this, the integration of Ethereum NFTs on Magic Eden is set to assist NFT creators in seamlessly reaching new audiences and encourage them to build NFT-centric communities. 

“Magic Eden aims to bring these two universes closer on the belief that NFTs’ social, cultural, and connective utilities should be shared across chains. By going multi-chain, Magic Eden will enable NFT creators to launch seamlessly, reach new audiences, and access added liquidity, while collectors will be able to discover new communities and connect across the passionate culture of the emerging space.” The statement later adds.

The press release further revealed details on leading NFT elements that the firm will soon be launching. Magic Eden’s ETH NFT integration will be launched with comprehensive features which will include Magic Eden List, a feature described as a “whitelist and audience targeting tool.” The firm will also be introducing other premium features such as Magic Eden Launchpad and Magic Eden Drop Calendar. 

In addition to this, the Solana NFT marketplace is currently in process of running private beta tests to launch a feature called “cross-currency trading.” The said feature will enable users to browse and purchase a variety of ETH and SOL NFTs listed on the platform.

Magic Eden will also be simplifying the NFT payment process by permitting users to make purchases via crypto (SOL/ETH) or through their credit cards. 

Want an opportunity to be one of the first to get a sneak peak of our Eth integration? 👀

An opportunity to join our Eth private beta will be posted in our Discord server! Join via the invite below for more details posted in Announcements! 🤝https://t.co/mDfYfN8t0l

— Magic Eden 🪄 (@MagicEden) August 2, 2022

Furthermore, the firm will also be introducing its cross-chain launchpad in association with EZU, which is described as “a sister collection of the popular ETH project Psychedelics Anonymous.”

[ n e w s ]

EZU will be the first ever cross-chain mintable Ethereum NFT collection to launch on @MagicEden’s Launchpad. Available to mint in $ETH or $SOL.

— ezu (@ezu_xyz) August 2, 2022

Speaking about their decision to add support for Ethereum, Zhuoxun Yin, COO and Co-Founder of Magic Eden added: 

“…Through our cross-chain Launchpad, creators will unlock a new set of audiences through which they can amplify and grow their projects, as well as tap into additional sources of liquidity. Creators launching with Magic Eden will no longer have to face the difficult decision of choosing one chain over another at the cost of limiting their potential audience reach. Web3 is a place for us to share knowledge and evolve together.”

Founded in 2021 as a leading Solana NFT marketplace, Magic Eden serves as a central NFT platform to trade and purchase Solana NFTs. 

The platform has been aggressively working towards expanding its use cases and has been exploring multiple partnerships to solidify its base. Recently, the firm announced its foray into Web3 digital gaming by announcing the launch of a gaming-centric venture arm called Magic Ventures. 

A week ago, the firm had also introduced its first semi-fungible token (SFTs) in association with the popular move-to-earn NFT game Genopets.

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Huobi Founder Keen On Selling Majority Of His Stake At $3 Billion Value: Report 

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Huobi Founder Keen On Selling Majority Of His Stake At $3 Billion Value: Report 
  • Crypto exchange Huobi’s founder Leon Li is reportedly in talks with financiers to sell his stake in the firm
  • Potential buyers include Justin Sun of Tron and FTX CEO Sam Bankman-Fried

Per a recent Bloomberg report, Huobi founder Leon Li is currently in talks with a bunch of investors to sell the majority of his stake in the Huobi crypto exchange at a price of nearly $1 billion. 

Huobi Founder Is Reportedly In Talks To Sell 60% Of His Stake

Per a recently published Bloomberg report, Huobi’s founder is reportedly in talks with financiers to sell 60% of his stake to potential buyers. The report further states that the deal could be finalized sometime later this month. 

Citing people familiar with the matter, Bloomberg added that the potential list of buyers involves prominent crypto industry names including Justin Sun, founder of cryptocurrency Tron and Crypto billionaire and CEO of FTX exchange Sam Bankman-Fried. The report also adds that SBF and Sun had earlier established talks with Huobi concerning the acquisition of shares.  

In addition to this, the report mentions ZhenFund and Sequoia China as “existing backers,” who were made aware of Huobi’s decision in the shareholder’s meeting held in July. Per the report, Li is seeking a valuation between $2 billion to $3 billion. 

A Huobi spokesperson has shed more details on the matter, reporting that Li is currently in process of conducting a discussion with several international institutions concerning the stake sale, but has refused to offer specific details concerning the transaction. 

“He hopes that the new shareholders will be more powerful and resourceful and that they will value the Huobi brand and invest more capital and energy to drive the growth of Huobi,” the spokesperson said in an emailed statement to Bloomberg

Launched in 2013 in China, Huobi is one of the leading crypto exchanges that has consistently been expanding its work portfolio. The exchange has recently acquired a license to operate and offer services in Australia and had earlier acquired the necessary permissions to operate in New Zealand. 

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Robinhood To Face US Market Manipulation Claims Over “Meme Stock” Rally : Reuters Report

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Robinhood To Face US Market Manipulation Claims Over “Meme Stock” Rally : Reuters Report

TL;DR

  • According to a U.S judge, the stock trading platform Robinhood Markets Inc should face market manipulation claims.
  • This lawsuit was one of many brought against the platform after it temporarily barred customers from purchasing stocks back in Jan 2021, such as GameStop and AMC.
  • Robinhood prices surged in May after the CEO of FTX SBF announced that he had purchased stake in the company.

Robinhood Judge Rules That Robinhood Should Face Market Manipulation Claims

According to Reuters, a U.S Judge ruled on Thursday that stock trading platform Robinhood Markets Inc should face market manipulation claims.

Judge Cecilia Altonaga said in the ruling that investors in GameStop Corp (GME), AMC Entertainment Holdings INC (AMC), and seven other stocks could proceed with the proposed class action lawsuit.

This lawsuit comes after retail trading company Robinhood temporarily barred customers from buying certain stocks in January 2021. 

The “meme stock rally” was mainly social media-fueled, and the shares of the companies mentioned were involved in a short squeeze that led Robinhood and other trading platforms to restrict retail trading. 

Attorneys for Robinhood did not reply to a request for comment. 

Robinhood Stocks Soared after SBF Confirmed he had Stake in company

Robinhood stock prices surged earlier in May of this year after the CEO of crypto exchange FTX Sam Bankman-Fried announced he had purchased a 7.6% stake in the company.

According to the filing, SBF paid a total of $648 million to acquire a 7.6% stake in Robinhood.

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Ethereum Merge Tentative Date Is Set And It’s Sooner Than You Think

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Ethereum Merge Tentative Date Is Set And It’s Sooner Than You Think
  • The Ethereum core developer team has discussed the tentative dates for the Merge to take place.
  • The dates are not definitive; however, the devs have agreed that the Bellatrix update would land on September 6, and the Paris update would target September 15.
  • The Merge is planned to take place before the end of September.
  • It aims to resolve the core problems Ethereum faces today, such as security, scalability, and environmental stability.

The Ethereum Core developer team suggested possible dates for the Merge on their latest Consensus Layer Call earlier today. 

The Merge, which successfully completed the final testnet phase on August 11 of this month, is one of the most anticipated events in Ethereum’s history. 

Read more: Ethereum Price Headed to $2,000 as Ethereum Goerli Merge Goes Live

The initial dates were set on September 17; however, during the call, the core developers agreed on roughly two dates for the main upgrades. The consensus so far is that the 144896 epoch for the Bellatrix upgrade would land on September 6, and the Paris upgrade would be completed by September 15.

As discussed on the call, the developers mentioned that the dates are not definitive and can be changed within the coming weeks. 

The Merge should occur after the Bellatrix mainnet upgrade before the end of September. Ethereum’s Eth token has already rallied 17.5% in anticipation of the Merge. The upgrade will go as scheduled unless the Ethereum hash rate falls significantly, which would cause lower block times and delay the Merge’s expected time. 

The Merge aims to resolve security, scalability, and environmental sustainability. All of these issues have been concerns that have halted Ethereum adoption and the adoption of other cryptocurrencies on the Ethereum network.

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