Magic Eden Expands Operations with Slingshot Acquisition
Magic Eden, a renowned NFT marketplace on the Solana network, recently announced a significant expansion of its operations with the acquisition of Slingshot, a multichain cryptocurrency trading platform via mobile app. The move is seen as a strategic effort to embrace a broader spectrum of digital assets, facilitating the exchange of tokens across multiple chains in a seamless and integrated manner.
With this acquisition, Magic Eden seeks to solidify its presence in the multichain space, adding greater versatility to its already robust service offering. The incorporation of Slingshot into the Magic Eden ecosystem enables a more comprehensive transaction, where users can trade a variety of tokens using a single USDC balance.
Today’s the last day you ever need to think about chains. Proud to share @MagicEden has acquired @SlingshotCrypto. First we were on 1 chain. Then we became cross chain. Now, no more chains. Trade instantly on all chains without bridging. This is how we’ll be #1 in NFTs + tokens.
— Jack (@0xLeoInRio) April 9, 2025
Slingshot is known for its infrastructure that simplifies and enhances the onchain trading experience, differentiating it from other applications that are limited to specific assets on a single chain, such as Moonshot, which only works with Solana assets. In contrast, Slingshot supports a broader range of chains and tokens.
Another advantage of this integration is the reduction of technical hurdles such as the need for multiple wallets or specific tokens for gas operations, thus allowing greater accessibility for newcomers to the market. “We are excited to join forces with Magic Eden to change the way the world trades cryptocurrencies. Slingshot pioneered the most comprehensive trading infrastructure in the industry, and together with Magic Eden, we are raising the bar. As the world moves away from centralization, this move allows us to further empower the individual and make crypto more accessible to everyone,” comments a representative from Slingshot.
With future plans already signaled by Magic Eden, the company intends to implement fiat onramps such as Apple Pay and credit card payments, in addition to developing AI-assisted tools to facilitate the discovery of new tokens within the platform.