Magic Eden announced it will buy the leading crypto trading app Slingshot. Through this acquisition, Magic Eden will take a significant step forward from an NFT and digital asset platform to become the most extensive and all-encompassing trading platform in crypto.
Magic Eden and Slingshot are now at the intersection of technology and finance as the $2.5 trillion crypto industry grows and has taken the spotlight in global politics and pop culture. Slingshot provides the easiest way to buy crypto and the most convenient path to cross-chain trading, with a ‘no bridging’ solution that removes the technical complications of switching between blockchains.
With instant listings for every token across 10+ blockchains, the app also provides the most expansive trading experience possible, removing the need to use centralized exchanges (CEXs).
Slingshot has gained about 1 million users to date and has grown in popularity in recent weeks because it is one of the only platforms to list every token across over 10 blockchains. Slingshot provides users with the widest view of the market, offering a more secure, transparent, and easy-to-use platform, solidifying the app as a serious contender to rival large centralized exchanges.
The simplicity of an email login combined with Apple Pay, Venmo, PayPal, or credit/debit card purchases ensures familiarity and an intuitive experience for new users. Bitcoin-native tokens or runes will soon join the 5+ million tokens currently accessible on Slingshot and become available for seamless buying, selling, and trading via the platform.
KEY QUOTES:
“This acquisition is a major step forward in advancing the Magic Eden vision, which is to provide users worldwide with a seamless and safe way to buy and sell crypto and digital assets across all chains. Pairing Slingshot’s team of product visionaries with Magic Eden’s best-in-class marketing and scaling capabilities accelerates our ability to have an impact on the future of crypto.”
– Jack Lu, CEO and Co-Founder of Magic Eden
“We are excited to join forces with Magic Eden to change the way the world trades crypto. Slingshot is pioneering the most comprehensive trading infrastructure in the industry, and alongside Magic Eden, we are raising the bar higher. As the world leaves centralization in the past, this move allows us to further empower the individual and make crypto more accessible for everyone.”
– Clinton Bembry, Co-Founder and CEO of Slingshot
