Magic Eden and Azuki Collaborate To Create The Future ETH NFT Marketplace

The digital asset incubator Chiru Labs and Magic Eden, a multi-chain non-fungible token market platform, have formally partnered. Only a few days had passed before the NFT marketplace revealed yet another cooperation with Pudgy Penguins NFT. We will examine Magic Eden’s NFT market intentions in this article.

Integration Of Magic Eden And Chiru Labs

The Magic Eden NFT marketplace announced its collaboration with Chiru Labs in a blog post dated February 6. Chiru Labs, a well-known digital asset incubation business, was established in 2021 and is the creator of the well-liked Azuki, Beanz, and Azuki Elemental NFT collections.

Blu-chip Beanz is an NFT collection with a limited supply of 19,950 distinct digital products that are also housed on the Ethereum blockchain network, while Azuki is an NFT collection with a limited edition of 10,000 anime-themed NFTs stored on the Ethereum blockchain network. Azuki Elemental is a collection of NFTs with 20,000 limited pieces with anime themes.

Magic Eden will be the preferred marketplace for Chiru Labs NFT collections as a result of the new agreement. On creating its next Ethereum-based NFT marketplace, Magic Eden NFT marketplace will receive development advice from the Azuki NFT team as well.

In November 2023, Magic Eden hopes to open its much awaited Ethereum NFT marketplace. At the time, Yuga Labs, the company that created the Bored Ape Yacht Club, and the cross-chain non-fungible token marketplace were partners.

The NFT market platform from Magic Eden and Yuga Labs was designed with royalties in mind, with the goal of supporting digital ownership principles and enabling authors to “continue receiving royalty payments for their original work.” Magic Eden co-founder Jack Lu made the following remarks regarding the project in a press release:

Magic Eden NFT Marketplace for ETH

After OpenSea, one of the biggest NFT marketplaces, decided to make royalties optional, something that the NFT projects strongly objected to and denounced, Magic Eden and Yuga Labs apparently began incubating an ETH marketplace sometime in August. OpenSea’s decision was also chastised by Mark Cuban.

Even though other marketplaces were abandoning creators, Yuga Labs and Magic Eden made it apparent that they had a different opinion. To guarantee that its ecosystems continue to be a top pick for makers and collectors, Magic Eden earlier this week announced another cooperation with the Pudgy Penguins NFT collection.