Magic Eden acquires crypto trading app Slingshot to move beyond NFTs

Quick Summary:

Solana non-fungible token (NFT) marketplace Magic Eden has acquired crypto trading app Slingshot as part of a strategy to expand beyond NFTs as other marketplaces fold amid a prolonged market downturn.

Magic Eden CEO Jack Lu hopes the integration will help shift more of the 500 million users still relying on centralized exchanges toward more crypto-native, onchain platforms.

NFT marketplaces shutter as market lullsLu said that Magic Eden and Slingshot and Magic Eden will continue to operate independently but noted there will be “increasing connectivity” between the platforms over time.

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Article Details

Author / Journalist: Cointelegraph by Brayden Lindrea

Category: Crypto

Markets: United States

Topics: Marketplace Token Users Marketplaces Magic Eden Slingshot Billion Crypto Million Trading

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-10 @ 05:41:40 (6 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 401 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27768624

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 27 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #11

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