Magic Eden Proposes to Integrate Memecoin $$BONK

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On January 2nd, the most significant NFT marketplace, Magic Eden, proposed integrating the new rising memecoin, $BONK.

Magic Eden Commences 2023 with Idea to Incorporate $BONK

Despite the crypto ecosystem being hit with the drawdown in 2022, Magic Eden, a popular Non-Fungible Token marketplace based on the Solana blockchain, has said it may integrate some new chains or cryptocurrencies. The organization proposes to commence with a rising exponential memecoin, $BONK, also based on the Solana ecosystem.

This integration will probably cause $BONK’s market volume to increase, as it did in other projects. A crypto enthusiast and Degen DAOO member suggested that royalties be made enforceable in the $BONK community. It indicates that more royalties will drive users to join the bandwagon.

Magic Eden gained prominence relatively rapidly after its September 2021 launch. The firm said that even during a market collapse, it perceives over 20,000 NFTs traded daily and receives an average of 10 million different user sessions monthly. The organization raised $130 million in June, valuing the company at $1.6 billion. The total NFT trade volume on Magic Eden’s platform is over $2.5 billion.

On November 22nd, 2022, Magic Eden integrated Polygon, an Ethereum scaling layer-2 blockchain, to grow blockchain gaming. With the help of the expansion, Magic Eden will be capable of supporting Polygon’s community of creators and game designers. Some of the largest web3 publishers and gaming projects, including Decentraland, Ubisoft, Animoca Brands, Atari, and Sandbox, are housed on the Polygon network.

Magic Eden co-founder and COO, Zhuoxun Yin, stated:

“We are excited to integrate with Polygon and continue our pursuit of a multichain future for Magic Eden,” By offering this integration, we are continuing to remove any chain-specific barriers and open NFTs to the masses.”

$BONK memecoin to set incentives

$BONK is a name of a new coin launched in the decentralized company BONKDAO, which is based on the Solana Blockchain. People only knew about it in December last year except those following the Solana development. The token popped up to assist the Solana society, which was going through a difficult time. The Solana blockchain’s decentralized exchange (DeFi/DEX) protocol Serum announced its shutdown because of FTX’s downfall. While the Solana-focused virtual currency Phantom also added support for Ethereum and Polygon. Significant NFT collections such as DeGods and y00ts were among the last to leave Solana. Polygon was their preferred shape. The procedure should be finished by early next year.

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