Magic Eden Joins Genopets To Launch SFT Marketplace On Solana

Updated: 27 July 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Magic Eden, the leading community-centric, non-fungible token marketplace on Solana, has announced a successful partnership with popular move-to-earn NFT game Genopets to launch the semi-fungible token (SFT) marketplace on Solana.

In a July 27 announcement, Magic Eden and Genopets confirmed the successful partnership to introduce the first semi-fungible token (SFT) marketplace. For the first time, members of the Genopets community will be able to mint and trade in-game SFTs through the Magic Eden marketplace on the Solana blockchain.

Launched in September 2021, Magic Eden is the go-to destination for NFT creators and traders on Solana. The NFT marketplace provides essential tooling and blockchain support to NFT gaming projects.

On the other hand, Genopets is the world’s first free-to-play, move-to-earn (M2E) NFT mobile game making it fun and rewarding to live an active lifestyle. The blockchain-based M2E mobile gameplay allows participants to walk, jog or run outdoor to earn digital assets.

Through the recent integration with Genopets, Magic Eden anticipates enabling a streamlined experience for games by powering the minting and trading of SFTs in large quantities. The new SFT marketplace will feature Serum capabilities as the backend matching engine for any form of financial product.

While commenting about the recent partnership for the SFT marketplace, Tony Zhao, Head of Gaming Investments for Magic Ventures, a venture arm of Magic Eden focusing on investing in Web3 games, remarked:

“We are excited to partner with Genopets to power their new SFT marketplace, bringing familiar Web2 trading mechanics to players looking to build and grow their in-game assets. In support of NFT gaming developers, we’re confident that our SFT tooling will allow projects to make further in-roads with creating high-concept, playable games on the blockchain.”

In response to the new SFT marketplace launch, Albert Chen, the CEO and Co-Founder of Genopets, commented:

“We’re thrilled to work with Magic Eden to continue pioneering the future of Web3 games by being one of the first games on Solana to roll out efficient token technology and game mechanics that enable players to create and transact value.”

Magic Eden will now leverage Genopets capabilities to create a user-friendly platform that brings dynamic cultural moments onto the blockchain. The joint team anticipates empowering users across thousands of digital communities to discover and collect NFTs.

Join Our Telegram channel to stay up to date on breaking news coverage