Posted 9/16/2023, 11:20:23 AM
Magic Eden Adds Support for Solana's Compressed NFTs, Lowering Barriers to Entry for NFT Creators
- Magic Eden integrates Solana's compressed NFTs into its marketplace
- Compressed NFTs (cNFTs) lower the costs of NFT production
- cNFTs make it feasible to produce NFTs in larger quantities due to lower fees
- Magic Eden believes cNFTs can promote wider NFT adoption by lowering barriers to entry
- cNFTs powered by Solana allow minting 1 million NFTs for around $110 vs $2.9-$30 per NFT on Ethereum
