Magic Eden, the first community-centric non-fungible token marketplace on Solana, announced a successful partnership with popular NFT game Genopets to launch the Semi-Fungible Token (SFT) marketplace on Solana.
In a July 27 announcement, Magic Eden and Genopets confirmed the success of the partnership to introduce the first semi-fungible token (SFT) marketplace. For the first time, members of the Genopets community will be able to mint and trade SFTs in-game via the Magic Eden market on the Solana blockchain.
Launching in September 2021, Magic Eden is the go-to destination for NFT creators and traders on Solana. The NFT Marketplace provides essential tools and blockchain support for NFT game projects.
On the other hand, Genopets is the world’s first free mobile NFT mobile game, which makes it fun and rewarding to lead an active life. Blockchain-based M2E mobile gameplay allows participants to walk, jog or run outdoors to earn digital assets.
Through the recent integration with Genopets, Magic Eden plans to enable a streamlined experience for games by powering SFT minting and trading in large quantities. The new SFT marketplace will feature serum functionality as a backend matching engine for any form of financial product.
While commenting on the recent SFT Marketplace partnership, Tony Zhao, Head of Game Investments for Magic Ventures, a venture capital arm of Magic Eden that focuses on investing in Web3 games, remarked:
“We are thrilled to partner with Genopets to power their new SFT marketplace, bringing familiar Web2 trading mechanics to gamers looking to grow and grow their in-game assets. In support of NFT game developers, we believe that our SFT tools will allow projects to progress further in creating high-concept playable games on the blockchain.
In response to the launch of the new SFT marketplace, Albert Chen, CEO and co-founder of Genopets, said:
“We are excited to work with Magic Eden to continue to pioneer the future of Web3 games by being one of the first games on Solana to deploy efficient token technology and gameplay mechanics that allow players to create and negotiate value.”
Magic Eden will now harness the capabilities of Genopets to create a user-friendly platform that brings dynamic cultural moments to the blockchain. The joint team plans to enable users from thousands of digital communities to discover and collect NFTs.
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