According to Odaily, NFT marketplace Magic Eden has introduced its first mobile wallet application, enabling users to trade NFTs and swap cryptocurrencies such as Bitcoin, Ethereum, and Solana. The platform will also begin utilizing tokens issued by a foundation that supports the Magic Eden ecosystem. The new app will facilitate the exchange of digital assets across five blockchains: Bitcoin, Ethereum, Solana, Polygon, and Base. Additionally, Magic Eden is considering expanding into categories like staking tokens, a service that provides returns to holders.

Magic Eden CEO Jack Lu stated in an interview that by adopting new token formats like Runes and Ordinals, Magic Eden has outperformed most NFT marketplaces, marking its best year to date. According to the company, monthly trading users have increased by 200% and revenue by 639% compared to 2023. However, data from tracking company Dune indicates that sales peaked in May and have since declined sharply. Jack Lu emphasized, "We certainly won't reduce our investment in NFTs; instead, we will increase it. However, cryptocurrency does experience many fluctuations, and for us, diversifying into more categories and use cases will make us more resilient and stronger."