ICYMI: With Twitter and OpenSea deal adrift, Magic Eden emerges as key NFT partner
Tweet Tiles allows users to post NFTs for sale on partnered marketplaces.
Although OpenSea and Twitter discussed working together on the social media company’s new program, the two sides could not agree on terms, according to a person familiar with the matter. That impasse between OpenSea and Elon Musk's newly acquired company has paved the way for Magic Eden to emerge as perhaps the most significant marketplace partnering with Twitter.For more than a year, OpenSeaNFT marketplace by total dollar volume. The company has been valued north of $13 billion.
Twitter's partnership with Magic Eden is also perhaps meaningful for another reason: The marketplace is the largest dealer of NFTs pinned to the Solana blockchain. OpenSea facilitates primarily Ethereum-blockchain transactions. “People transact more on Solana because the chain allows them to do so,” said Huang, adding that there are fewer fees when buying and selling on Solana.
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