Magic Eden Embraces Solana’s Compressed NFTs for Economic Minting - NFT News Today

NFT News Today
NFT News Today

18 Sep 2023 2:50 AM

Magic Eden endorses Solana's compressed NFTs, offering cost-effective minting and promoting wider adoption in the digital collectible space....

  • Magic Eden is pioneering the adoption of Solana's compressed NFTs (cNFTs).
  • cNFTs compress data and store it off-chain, reducing minting fees.
  • This innovation allows for mass production of digital collections in various industries.
  • Magic Eden's data suggests that creators can mint up to 1 million NFTs at a cost of $110 on Solana.
  • Supporting cNFTs aims to enhance adoption rates and make NFTs easily accessible.
  • The integration of cNFTs lays the groundwork for a scalable NFT ecosystem.

The article highlights the potential benefits of cNFTs and their impact on the NFT ecosystem. The tone is positive and optimistic about the future of digital collectibles.

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You May Ask

What is Magic Eden pioneering in the NFT space?How do cNFTs reduce minting fees?What industries can benefit from the mass production of digital collections using cNFTs?How does the cost of minting NFTs on Solana compare to Ethereum?What is Magic Eden's objective in supporting cNFTs?

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