• Magic Eden Launches New Series of Updates

  • Jan 23 2024
  • Length: 11 mins
  • Podcast

Magic Eden Launches New Series of Updates

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  • Summary

  • There have been contrasting developments across the crypto/Web3 landscape - GameStop has closed its NFT marketplace due to fading traction and regulatory uncertainty, while NFT leader Magic Eden is enhancing accessibility through rewards programs, open-sourced protocols, and a cross-chain wallet. In crypto, Terraform Labs has filed for bankruptcy after market turmoil highlighting inherent volatility, however Bitcoin ETFs are seeing surging institutional interest and assets under management. On the gaming front, Illuvium launched a creator rewards initiative to support Web3 content creators, and leading blockchain game Axie Infinity expanded its universe to offer players new experiences and boost engagement. While major players like GameStop and Terraform face challenges, others like Magic Eden and Bitcoin ETF providers are consolidating positions by improving offerings. However regulatory and market risks persist.

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