LayerZero and Magic Eden Join Forces to Boost NFT Industry

According to a release shared with BSC News, LayerZero has teamed up with leading NFT marketplace, Magic Eden, to provide the platform with enhanced interoperability capabilities.

Chain Agnostic NFTs?

Following the integration, Magic Eden users will be able to create and mint ‘Omnichain Non-Fungible Tokens (ONFTs) which can be bought and sold across any and all of Magic Eden’s supported networks.

According to Bryan Pellegrino, CEO of LayerZero Labs, “We are excited that Magic Eden has chosen LayerZero’s ONFT standard as the NFT interoperability solution for all collections launched on their platforms. Along with Gas Station, these enhancements to the Magic Eden platform will provide a simple and seamless experience for NFT traders and collectors.”

In tandem, LayerZero Labs is launching its ‘Gas Station’ feature – an “open-source gas abstraction tool” which will also be available to users of the Magic Eden platform.

The above detailed announcements typify Magic Eden’s commitment to using LayerZero for its cross-chain infrastructure needs, with an aim to “simplify the NFT trading experience and play an integral role in expanding Magic Eden’s newest Polygon marketplace”.

“Our vision remains unchanged when it comes to providing the most relevant tools to every collector, creator, and trader that visits Magic Eden. With the addition of LayerZero’s functionality into the Magic Eden platform via its marketplace and launchpad, we are increasing access to the NFT ecosystem in its entirety.”, said CEO and Co-founder of Magic Eden, Jack Lu.

Ultimately, traders on Magic Eden will now be able to buy and sell NFTs across all supported networks, all via the Magic Eden UI, in a leap forward in the journey to reducing friction in the crypto industry and easing the onboarding of non-Web3 users. This update itself is underpinned by LayerZero’s Gas Station, which allowed the swapping of gas-specific tokens without the need of external DEXs and bridging mechanisms.

“Magic Eden becomes one of the first NFT marketplaces to offer ONFT capabilities,making Polygon NFTs more accessible to traders and collectors. The integration of LayerZero into MagicEden is the start of a series of planned updates and enhancements Magic Eden will bring to its ecosystem.Since its expansion into the Polygon network in November 2022, Magic Eden has remained committed toproviding world-class tools to creators on Polygon and other chains via the Magic Eden Launchpad, whileensuring that collectors in the ecosystem encounter the best possible trading experience. More information on Magic Eden’s Polygon marketplace updates is expected later in 2023.”, reads the release.