Magic Eden NFT Marketplace Collaborates with MoonPay

NFT marketplace Magic Eden collaborates with MoonPay. (Photo; Doc. Net NFT News)

JAKARTA - Magic Eden, the most popular non-fungible token (NFT) marketplace on the Solana network, has announced that it has undertaken a corporate restructuring process by laying off 22 employees from its workforce. In addition, Magic Eden has also collaborated with payment platform Web3, MoonPay, to introduce a new payment option for their users in purchasing digital collectables.

According to a press release published by the company, Magic Eden users can now purchase NFTs across all chains via credit or debit cards, Apple Pay and Google Pay. The goal is to make the process of accepting new users more convenient.

As a Web3 payment platform that has made more than US$3.5 billion in transactions across more than 160 companies, MoonPay will offer a multichain onboarding solution to enable Magic Eden customers to purchase NFTs directly.

In a statement, Magic Eden's Chief Operation Officer Zhouxun Yin said the company's goal is to make trading virtual collectables more accessible and manageable for users. This is especially useful for non-native crypto users who may not know to take advantage of cryptocurrency wallet settings and ecosystems.

With this collaboration, Magic Eden and MoonPay hope to improve the user experience in buying and managing NFTs more easily and conveniently.

Magic Eden and MoonPay team up to introduce a new payment option for digital collectable purchases. Previously, MoonPay had teamed up with LookRare's NFT marketplace to enable platform users to trade cryptocurrencies through MoonPay. The company has also registered with the UK Financial Conduct Authority (FCA) to demonstrate compliance with the original money laundering regulations.

Magic Eden is a leading NFT marketplace with its cross-chain marketplace which has more than sixteen thousand NFT collections and has traded for 2.6 billion US dollars since its launch in September 2021. By 2022, Magic Eden plans to develop a multi-chain platform to work with the world's top game creators, brands and developers to bring more engaging and culturally impactful NFT use cases to market.

However, it is known that Magic Eden recently restructured its company and laid off twenty-two employees. This was done as part of the company's shift in strategy to achieve new goals in 2023. Chief Executive Officer and Co-founder Jack Lu announced the change in a recent message on Twitter while pledging to assist affected employees during the transition phase.