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Magic Eden Acquires Trading App Slingshot to Expand Operations Beyond NFTs
In a surprising move, Magic Eden, one of the most prominent non-fungible token (NFT) marketplaces, has announced its acquisition of Slingshot, a popular trading app. This strategic decision marks the company’s deliberate step towards diversification beyond NFTs and direct competition with centralized exchanges.
The acquisition enables Magic Eden to extend its reach across multiple blockchains, providing users with an unprecedented level of convenience. By leveraging Slingshot’s technology, Magic Eden aims to become a comprehensive trading platform that can seamlessly facilitate cross-chain transactions without the need for bridging.
Source: https://blockonomi.com/nft-marketplace-magic-eden-buys-trading-app-slingshot-to-diversify-business/
