Magic Eden and Genopets Collaborates to Launch Semi-fungible Tokens (SFTs) Marketplace

Magic Eden Partners with Genopets to Unveil semi-fungible tokens marketplace which will allow gamers to trade and mint SFTs. This partnership will help support transactions in the blockchain gaming ecosystem.

Jul 28, 2022
by Michael
Magic Eden and Genopets Collaborates to Launch Semi-fungible Tokens (SFTs)  Marketplace
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Magic Eden And Genopets Partnership

The GameFi space has witnessed yet another paradigm shift with the innovative intro of semi-fungible tokens (SFTs) on the Magic Eden marketplace. This advancement happened in partnership with Genopets.

Semi-fungible tokens (SFTs) can be pictured as a new tender for NFTs, which conversely leverages the blockchain in generating authenticity of digitally-owned items. They are digital assets that can be created—minted in larger quantities and can be exchanged for another. This collaboration between the San Francisco-based company—Magic Eden—and Genopets will the blockchain gaming community to exchange SFTs during gameplay.

The Magic Eden marketplace will foster this transaction. So, here's the simple analogy; a game player on Genopets can trade semi-fungible tokens with other players via the Magic Eden marketplace. Unlike NFTs that cannot be exchanged, SFTs may just be creating an exciting path in the GameFi space.

New Enhanced Gaming Experience

Via this partnership, gamers will be enabled by Magic Eden to niche down their gaming experience into being able to trade and mint SFTs.

In a statement, the CEO of Genopets, Albert Chen, mentioned how the company is thrilled to partner with Magic Eden on the launch of the semi-fungible tokens marketplace. This partnership is projected to bring about a positive change to the Web3 games as it leads the way in creating a technological aid for the transaction and creation of digital assets on the Solana blockchain.

The introduction of SFTs ultimately aims to add more fun to the game world by importing, from Web2, gaming experiences like "stackable" in-game assets to Web3. While NFTs remain a central technology aid that facilitates the storage of in-game assets on the blockchain, SFTs hold more gamer-friendly access.

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