ETH Genesis

Magic Eden, a prominent NFT marketplace operating across multiple blockchain platforms, has revealed that it will introduce a new marketplace dedicated to Ethereum called ETH Genesis. This new marketplace is scheduled to launch on April 6th, initially in beta mode, with the participation of ten different Launchpad partners, including KaijuKingz, The Space Club, and Freakz by Subber. These Launchpad partners will share revenue generated from the marketplace fees for a limited period.

Zhuoxun Yin, the co-founder of Magic Eden, has expressed his company's admiration for Ethereum as the largest NFT ecosystem in Web3. He also highlighted Magic Eden's strength in supporting NFT creators, citing the successful launch of over 400 NFT projects on its Launchpad platform.

Following the recent launch of its Bitcoin Ordinals marketplace in March, Magic Eden has now announced the imminent launch of its Ethereum marketplace, ETH Genesis. By expanding to multiple blockchain networks, Magic Eden is positioning itself to compete with other leading NFT marketplaces, such as OpenSea, which also offers trading across different blockchain platforms.

Other Recent Developments From Magic Eden

Despite the challenging market conditions, Magic Eden's upcoming launch of ETH Genesis is just one of several recent developments for the company in the NFT space. Here are three additional stories that illustrate the company's ongoing efforts to build its presence in the industry:

Firstly, in a move that preceded the announcement of ETH Genesis, Magic Eden launched its Bitcoin Ordinals marketplace just a week ago. This new marketplace is dedicated to the popular Bitcoin-based NFT collection and was launched in partnership with 13 Ordinal collections, including Taproot Wizards, Inscribed Pepes, and Bitcoin Bandits.

Another notable development for Magic Eden occurred three months ago when the company introduced a new rewards program called "Magic Eden Rewards" for traders. The program enables users to create a unified profile across all wallets and earn "Magic Points" for every 1 SOL traded on the platform. This initiative was launched in response to the company's shift to a royalty-optional model, which resulted in a decline in trading volume.