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Magic Eden launches $1 million creator fund to boost Polygon’s NFT ecosystem

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TL;DR Breakdown

  • Magic Eden launched a $1 million fund to support creators on the Polygon blockchain for NFT projects.
  • The fund provides financial support and mentorship to selected Polygon-based projects, focusing on innovation in the NFT landscape.
  • This initiative is part of Magic Eden’s expansion on Polygon, reflecting its strategic alignment with Polygon’s growing role in web3 gaming.

Description

Magic Eden has announced the launch of a $1 million fund dedicated to supporting creators building on the Polygon blockchain. The fund aims to bolster a blue-chip NFT presence on Polygon, a blockchain renowned for web3 gaming. Fostering Innovation: Magic Eden’s commitment to supporting Polygon-based projects The newly launched fund offers creators the opportunity to … Read more

Magic Eden has announced the launch of a $1 million fund dedicated to supporting creators building on the Polygon blockchain. The fund aims to bolster a blue-chip NFT presence on Polygon, a blockchain renowned for web3 gaming.

Fostering Innovation: Magic Eden’s commitment to supporting Polygon-based projects

The newly launched fund offers creators the opportunity to apply for funding for their Polygon-based web3 projects. Selected parties will not only receive financial support but also benefit from Magic Eden’s mentorship, marketing assistance, tech support, and grant dollars to bring their innovative projects to market.

In a statement, Magic Eden emphasized the challenges faced by the ecosystem during the bear market and expressed a commitment to finding and supporting the best and brightest project founders. The goal is to spark the next wave of NFT adoption, focusing on projects that stand out for their uniqueness, scalability, and ability to challenge the status quo of the NFT landscape

Magic Eden’s growing presence on Polygon

Magic Eden’s decision to launch the creator fund aligns with its strategic efforts to build a more substantial presence on the Polygon network. Though originally founded on Solana, Magic Eden has made significant strides within the last year to expand its reach on Polygon.

In November 2022, Magic Eden added support for Polygon NFTs, followed by the addition of Polygon NFT minting and trading capabilities for gaming a month later. These moves reflect Magic Eden’s recognition of Polygon’s growing importance in the web3 gaming space and its potential to host blue-chip NFT collections.

In conclusion, Magic Eden’s $1 million creator fund is aimed at supporting Polygon-based web3 projects, with a focus on uniqueness, scalability, and challenging the NFT landscape. 

The fund aligns with Magic Eden’s recent efforts to expand its presence on Polygon, including the addition of Polygon NFT support in November 2022 and Polygon NFT minting and trading capabilities for gaming in December 2022. The initiative is part of Magic Eden’s broader strategy to foster innovation and support emerging talents in the NFT space.

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