Magic Eden integrates Solana’s compressed NFTs into marketplace
NFT marketplace Magic Eden believes that lowering the costs in NFT production creates an "easy access point" for new users to try NFTs. Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning digital collectibles. Today we’re releasing support for cNFTs (find them in our popular collections) cNFTs are a new wave of NFT creation only possible on Solana. The "c" stands for compressed (not Cardano don't worry) which allows them to be produced at a fraction of the cost of traditional… pic.twitter.com/WbO4qqWLEt — Magic Eden (@MagicEden) September 14, 2023 cNFTs are different from the usual Solana NFTs because their data are compressed and are stored off-chain. Because of this, production in larger quantities is more feasible as they require lesser fees to mint. According to Magic Eden, this type of NFT is ideal for the creation of mass