Magic Eden Acquires Slingshot to Launch Cross-Chain Trading Platform

Magic Eden is branching out from its NFT roots by acquiring Slingshot, a crypto trading app known for its intuitive, cross-chain functionality.

The move signals the platform’s ambition to become a comprehensive destination for all types of digital asset trading—not just collectibles.

With this acquisition, Magic Eden is shifting toward decentralized finance, seeking to rival centralized exchanges by offering a fully on-chain experience. Slingshot, which has drawn nearly a million users thanks to its user-friendly interface, allows seamless token swaps across over ten blockchains—no bridging required. This approach minimizes complexity and risk for users.

Magic Eden plans to embed Slingshot’s tech into its own platform, creating a unified ecosystem capable of supporting millions of tokens, including upcoming integration with Bitcoin-native assets. The expanded features aim to give users the power and flexibility of decentralized trading without compromising on speed or ease of use.

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CEO Jack Lu described the acquisition as a key milestone in building a platform that supports secure, cross-chain crypto trading for a global audience. With crypto’s market capitalization now reaching $2.5 trillion, demand is growing for tools that align with decentralization ideals—security, transparency, and user control—while offering a smooth experience for everyday traders.

Slingshot’s recent popularity stems from its real-time listings across multiple chains and simplified onboarding process. New users can register with just an email and pay using Apple Pay, Venmo, PayPal, or traditional cards—a rare convenience in DeFi.

Together, Magic Eden and Slingshot aim to reshape the trading experience, presenting a viable alternative to centralized giants by blending accessibility with on-chain empowerment.

Alexander Stefanov