Magic Eden, currently the most popular NFT marketplace, launched support for minting and trading on Base today.
Why it matters: According to NFT Pulse, Magic Eden had the most users, revenue, volume, and royalties paid out of any NFT marketplace over the past week. The Base integration allows the platform, which already supports Bitcoin, Ethereum, Polygon, and Solana, to tap into the hottest rising L2 NFT scene, potentially entrenching its dominance that much further.
What’s new: Magic Eden users can now buy and sell from existing popular Base collections, like Onchain Gaias and Tiny Based Frogs. The Magic Eden Launchpad is also celebrating the integration with three new drops on Base:
???? Offline Oracles — The flagship utility assets of the Offline Protocol ecosystem, these tokens offer access to the Offline Arcade and other Offline experiences and products; 5,500 NFTs dropping today, April 25th, starting at 0.05 ETH each
???? Buddies — 2,222 cute PFPs by the artist sneaky, dropping tomorrow, April 26th, for 0.004 ETH each during the public mint
???? JOURNEY — An open edition mint by the Japanese illustrator Tsurshima Tatsumi, this drop functions as the presale for the upcoming $TSURU token; 0.0012 ETH per mint, open for 48 hours starting on April 26th
If you dive in, you’ll also want to track Magic Eden’s activation of Diamond Rewards for buying, listing, and making collection offers on Base NFTs. Collections with reward boosts currently include Bomefers, Onchain Gaias, Swatches, and Primitives.
It’s safe to assume these points will factor into a future Magic Eden airdrop, so stacking what you can now makes sense. Additionally, Magic Eden Wallet just added support for Base assets, so that’s another potential points avenue to consider. points avenue to consider.
The Base opportunity: The Base NFT scene is up there with Bitcoin Ordinals and Solana memecoins as among the hottest areas in crypto at the moment, with a major portion of all L2 NFT activity now occurring on the network.
However, the main available platform for primary drops and secondary NFT trading on Base is currently OpenSea, which is ripe for disruption. As such, Magic Eden has an opportunity to take over and become the premier NFT hub on Base, and its rise on the L2 can provide new tailwinds for small and big Base collections alike.
Also, check out: If you’ve been following my recent Runes coverage, consider exploring Magic Eden’s Runes dashboard.
The early Runes trading experience is admittedly primitive, but this new platform makes the process as streamlined as possible, and more features are coming. Trading Runes isn’t for the faint of heart right now, but if you’re determined to begin, this is certainly a great starting point.
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