Odaily Planet Daily News NFT market Magic Eden launched its first mobile wallet application on Thursday, allowing NFTs to be traded and swapped for cryptocurrencies such as Bitcoin, Ethereum and Solana. The platform will also begin using tokens issued by foundations that support the ME ecosystem. Magic Eden's new application will support the exchange of digital assets across five blockchains: Bitcoin, Ethereum, Solana, Polygon and Base. Magic Eden is also considering expanding into categories such as staking tokens, a service that provides yield to holders. Magic Eden CEO Jack Lu said in an interview that by adopting new token formats such as Runes and Ordinals, Magic Eden has outperformed most NFT markets and had its best year so far. According to the company, Magic Eden has seen a 200% increase in monthly trading users and a 639% increase in revenue this year compared to 2023. However, data from data tracking company Dune shows that sales peaked in May and have since fallen sharply. Jack Lu said: "We will certainly not reduce our investment in NFT, but will further increase our investment. However, cryptocurrencies do have many ups and downs, and for us, diversifying our business into more categories and use cases will make us more resilient and stronger." (Bloomberg)