Magic Eden introduces semi-fungible tokens (SFTs) marketplace with Genopets
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Magic Eden has introduced its “semi-fungible token” (SFT) marketplace with the blockchain game Genopets.
I’ll explain the SFT in a second, but you can think of it as a new take on non-fungible tokens (NFTs), which use the blockchain to authenticate unique digital items. Depending on who you talk to, NFTs could either revolutionize gaming with player ownerships or become a new way to fleece gamers.
San Francisco-based Magic Eden said the Genopets community can now trade in-game SFTs through Magic Eden’s marketplace. Genopets is a “move-to-earn” digital pets game. SFTs are digital assets that can be minted in quantities greater than one. The marketplace is also supported by Serum’s asset agnostic orderbook, which allows protocols to use Serum as their backend matching engine for any type of financial product.
Regarding the SFT marketplace launch, Albert Chen, CEO of Genopets, said in a statement, “We’re thrilled to work with Magic Eden to continue pioneering the future of Web3 games by being one of the first games on Solana to roll-out efficient token technology and game mechanics that enable players to meaningfully create and transact value.”
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Members of the Genopets community can mint and trade in-game SFTs vital to their crafting economy, like Crystals and Terraform Seeds, through the Magic Eden marketplace, creating a more efficient
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