By
Steve Muchoki
April 17th, 2024
It has also become known that Magic Eden is laying off twenty-two employees from its workforce as part of a company-wide restructuring process.
Non-fungible token marketplace Magic Eden has collaborated with Web3 payment platform MoonPay to introduce new payment options for the purchase of digital collectibles. According to the latest press release, Magic Eden users can buy NFTs in all chains via credit or debit card, Apple Pay, and Google Pay. The aim of this association is to make the onboarding of new users more convenient.
MoonPay, which as of now, has executed more than $3.5 Billion in transactions in more than hundred and sixty firms, will offer multichain on-boarding resolutions to enable Magic Eden’s customers to buy NFTs directly.
It is still a tedious task to buy an NFT, especially for non-crypto native users due to a lack of knowledge to utilize the wallet setup and cryptocurrency ecosystem. With this novel association, Magic Eden and MoonPay are all set to make the trade of virtual collectibles more facile.
According to Magic Eden Chief Operation Officer Zhouxun Yin, the goal for the company is to make it more accessible for people to use and manage NFTs on their own.
Previously, MoonPay partnered with NFT marketplace LooksRare to enable users of the platform to trade cryptocurrencies via MoonPay. The firm also raised over $555 Million in November 2021, which has enabled it to continue establishing planned partnerships.
MoonPay recently secured a registration with the UK’s Financial Conduct Authority (FCA) to indicate compliance with the native money laundering regulations.
Magic Eden is known to be THE place to purchase NFTs, and its cross-chain marketplace holds more than sixteen thousand NFT collections while having executed trades worth $2.6 Billion since its launch in September 2021.
In 2022, Magic Eden reached out beyond Solana NFTs to propel virtual goods trading on Ethereum and Polygon. Its multi-chain development will enable the platform to function with the world’s top creators, brands, and game developers to present more exciting, culturally influential NFT use cases to the market.
However, it has also come to the knowledge that Magic Eden is laying off twenty-two employees from its workforce as part of a company-wide restructuring process.
In a recent message posted on Twitter by the Chief Executive Officer and Co-founder Jack Lu, the firm had to make some drastic changes in its teams to achieve the new goals of 2023.
Lu also claimed that several platforms’ offerings are now stepping into new stages of development while promising to aid the affected employees during the shift phase. The top-notch NFT marketplace took a hit when its price fell dramatically over the last year. In response to the plunge, the company expanded its support for Ethereum and Polygon-based NFTs to allow itself to stay afloat against competitor marketplaces like OpenSea.