2025-04-10
Magic Eden, a prominent NFT marketplace, has announced its
acquisition of Slingshot, a mobile-first crypto trading application.
It aims to transform Magic Eden into a comprehensive trading
platform, offering users the ability to trade a wide array of digital assets
across multiple blockchains without relying on centralized exchanges.
Slingshot has nearly one million users by providing a seamless
cross-chain trading experience.
Its platform supports instant listings for over five million tokens
across more than ten blockchains, eliminating the need for users to engage in
complex bridging processes.
The app also offers user-friendly features such as email login and fiat on-ramps through Apple Pay, PayPal, Venmo, and credit/debit cards, making it accessible to both novice and experienced traders.
Jack Lu, CEO and Co-Founder of Magic Eden, emphasized the importance of this acquisition:
"This 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."
Clinton Bembry, Co-Founder and CEO of Slingshot, echoed this
sentiment:
"We are excited to join forces with Magic Eden to change the way the world trades crypto. Slingshot is pioneering the most comprehensive trading infrastructure in the industry, and alongside Magic Eden, we are raising the bar higher."
Magic Eden's wants to expand its services beyond NFTs by integrating
Slingshot's technology.
