{"id":201627,"date":"2023-11-27T22:57:12","date_gmt":"2023-11-27T17:27:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=201627"},"modified":"2023-11-27T22:57:12","modified_gmt":"2023-11-27T17:27:12","slug":"magic-eden-launches-cross-chain-nft-and-crypto-wallet-for-bitcoin-ethereum-solana-and-polygon-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/magic-eden-launches-cross-chain-nft-and-crypto-wallet-for-bitcoin-ethereum-solana-and-polygon-crypto-news\/","title":{"rendered":"Magic Eden Launches Cross-Chain NFT and Crypto Wallet for Bitcoin, Ethereum, Solana, and Polygon – Crypto News"},"content":{"rendered":"
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Magic Eden sees a crypto future that spans multiple blockchains\u2014and is launching its crypto <\/span>wallet<\/span><\/a> browser extension in closed beta to support that aim, the firm behind the <\/span>NFT<\/span><\/a> marketplace announced Monday.<\/span><\/p>\n

\u201cWe believe in a multi-chain world for NFTs,\u201d Magic Eden CEO and co-founder Jack Lu told <\/span>Decrypt <\/span><\/i>in an interview.\u00a0<\/span><\/p>\n

\u201cUp until today, for a user to really experience all the different products and features and great content that we have on every chain, they effectively have to download three wallets,\u201d Lu said of the current challenges plaguing the wallet space that have led to user fragmentation on <\/span>Magic Eden<\/span><\/a>.<\/span><\/p>\n

The marketplace\u2019s crypto wallet is launching for the Google Chrome browser first, but a Safari browser version and mobile app are also in the works. The mobile app could come into fruition as soon as early 2024, Lu shared.<\/span><\/p>\n

The wallet will be compatible with the four blockchains that Magic Eden currently supports on its NFT marketplace: <\/span>Bitcoin<\/span><\/a>, Ethereum, <\/span>Solana<\/span><\/a>, and Ethereum scaling network Polygon.<\/span><\/p>\n

The initial Magic Eden wallet will be self-custodied, meaning users will have full control over their crypto assets and will have to keep a seed phrase\u2014a lengthy passphrase consisting of many words\u2014secure.<\/span><\/p>\n

But if downloading three different crypto wallets to buy NFTs on Ethereum, <\/span>Solana<\/span><\/a>, and Bitcoin is frustrating and cumbersome for users, why still make them deal with seed phrases at all? Why not offer a Magic Eden-custodied wallet with a one-click email solution instead?<\/span><\/p>\n

Lu said that holding your own crypto and NFTs is crucial to \u201cthe ethos of <\/span>Web3<\/span><\/a>.\u201d<\/span><\/p>\n

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Introducing Magic Eden Wallet, a wallet made for Magic Eden users and cross-chain collectors.<\/p>\n

Beta version is now live and only available to a small group of early testers!<\/p>\n

Want to give it a try? You can get on the waiting list by downloading the extension and entering your\u2026 pic.twitter.com\/5DsS5qhdlQ<\/a><\/p>\n

\u2014 Magic Eden \ud83e\ude84 (@MagicEden) November 27, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

\u201cWe very much want to live up to that,\u201d Lu said of Magic Eden\u2019s belief in Web3, a term which refers to a hypothesized next iteration of the internet that offers users decentralized ownership through crypto. \u201cThat\u2019s why we wanted to stick to something self-custodial.\u201d\u00a0<\/span><\/p>\n

Magic Eden\u2019s wallet promises a more user-friendly, cross-chain solution for crypto fans, allowing them to avoid bridging (transferring crypto from one chain to another) by doing <\/span>cross-chain token swaps<\/span><\/a> through the wallet.<\/span><\/p>\n

Lu is also very much aware of the common issues that afflict crypto browser extensions. For instance, when users have multiple wallets installed\u2014like MetaMask, Coinbase Wallet, Phantom, or the <\/span>Ronin<\/span><\/a> Wallet, for example\u2014they can occasionally \u201cfight\u201d each other to connect to a website, simultaneously popping up at once and creating connection issues and confusion.<\/span><\/p>\n

\u201cWe’re actually working pretty deeply right now to make sure that the wallets don’t fight each other as much,\u201d Lu said, citing Magic Eden\u2019s work on its wallet with crypto tech firm Exodus.<\/span><\/p>\n

In addition to cross-chain swaps, the Magic Eden wallet will also offer users the ability to buy crypto with fiat currency from within the wallet through a <\/span>MoonPay<\/span><\/a> integration, Lu said. The wallet will include NFT-focused features like cross-chain portfolio tracking, Bitcoin Ordinals support, and simultaneous connection to multiple blockchains.<\/span><\/p>\n

\u201cI think self-custody and email login\u2014and those seamless implementations\u2014they’re not mutually exclusive,\u201d Lu told <\/span>Decrypt<\/span><\/i> of the wallet\u2019s potential future. \u201cThere\u2019s a lot of very exciting technologies that we’re looking to tap into to make that onboarding experience much more smooth, much more familiar to the mainstream user.\u201d<\/span><\/p>\n

Edited by Andrew Hayward<\/a><\/i><\/p>\n

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<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Magic Eden sees a crypto future that spans multiple blockchains\u2014and is launching its crypto wallet browser extension in closed beta to support that aim, the firm behind the NFT marketplace announced Monday. \u201cWe believe in a multi-chain world for NFTs,\u201d Magic Eden CEO and co-founder Jack Lu told Decrypt in an interview.\u00a0 \u201cUp until today, […]<\/p>\n","protected":false},"author":2,"featured_media":201628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-201627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/201627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=201627"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/201627\/revisions"}],"predecessor-version":[{"id":201630,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/201627\/revisions\/201630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/201628"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=201627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=201627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=201627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}