Magic Eden Revolutionizing Compressed Solana NFTs for Expansion
Recent news on Magic Eden just shocked the NFT industry. The news was about the integration of Magic Eden with the Compressed Solana NFTs for economic minting. Launched in September 2021, the platform is the most popular NFT marketplace over the Solana blockchain, offering high rivalry to Ethereum. The platform is planned to integrate Compressed Solana NFTs into the marketplace for economic minting and fulfilling the emerging demands of NFT enthusiasts. The majority of the NFT holders are looking for cost-effective and scalable solutions, expecting to develop a new era of digital collectibles. Traditional NFT projects running over the Solana network have a data storage approach that involves higher costs during the minting procedure. To minimize the minting cost and make the NFTs more affordable to enthusiasts, Magic Eden decided to work with the Compressed Solana NFTs (cNFTs). As the name suggests, these NFTs are designed to compress the data and store it on an off-chain network. The process simply minimizes the minting fees, making it a better option for NFT enthusiasts looking for affordable collections. The approach also attracts NFT creators to design digital items for mass manufacturing. The method is best suited for mass production of digital collectibles offering different options to users, including music, events, gaming, and the metaverse.
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