Magic Eden rolled out its first semi-fungible token marketplace in conjunction with the popular move-to-earn NFT game Genopets.
Genopets community members can now mint and trade in-game SFTs vital to their crafting economy through the Magic Eden marketplace.
Among the first Genopets SFTs that will be listed on Magic Eden's marketplace are Crystals and Terraform Seeds.
Within the game, Crystals are base layer materials used for crafting other items. Players will be able to use multiple quantities of them at a time.
Terraform Seeds allow players to make aesthetic customization and performance upgrades to evolve their Genopets' habitats.
Traditionally, if a player sells 10 Water Crystals to craft a new item or sells a number of Terraform Seeds, they would be required to sell each NFT individually. With SFTs, players can sell all 10 Crystals or Terraform Seeds simultaneously and experience more efficient gameplay via one-click trading features.
For creators developing games on the blockchain, SFTs cut the amount of resources needed for players to efficiently mint and transact during gameplay. SFTs minted on Solana share a "Mint Account," leading to less storage used per asset and lower minting fees.
"We are excited to partner with Genopets to power their new SFT marketplace which will bring familiar Web2 trading mechanics to players looking to build and grow their in-game assets. In support of NFT gaming developers, we're confident that our SFT tooling will allow projects to make further in-roads with creating high-concept, playable games on the blockchain," said Tony Zhao, Head of Gaming Investments for Magic Ventures, a venture arm of Magic Eden that will focus on investing in Web3 games.
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