Magic Eden acquires crypto trading app Slingshot to move beyond NFTs

NFT marketplace Magic Eden has acquired the crypto trading app Slingshot as part of a strategy to expand beyond NFTs.

Solana non-fungible token (NFT) marketplace Magic Eden has acquired crypto trading app Slingshot as part of a strategy to expand beyond NFTs as other marketplaces fold amid a prolonged market downturn.

The move expands Magic Eden's support to more than 8 million tokens across almost every major blockchain, the firm said in an April 9 X post.

“No bridges. No CEXs. This is another major step towards our vision of providing the best platform to trade all assets, on all chains,” Magic Eden said.

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