Magic Eden CEO talks NFTs, multi-chain expansion and market volatility (w/ Jack Lu)

Chain Reaction

Welcome to Chain Reaction.

A podcast that unpacks and dives deep into the latest trends, drama and news in crypto with some of the biggest names in the industry to break things down block by block for the crypto curious.

For this week’s episode, Jacquelyn interviewed Jack Lu, co-founder and CEO of NFT marketplace Magic Eden. This is his second time on Chain Reaction, but the market has evolved a lot since the last time he came on in August 2022, so we’re excited to have him back!

Before co-founding Magic Eden in 2021, Lu worked as a product manager at Google and a consultant for Boston Consulting Group.

Magic Eden originally began as a Solana-based NFT trading platform, but has expanded its support to other blockchain networks like Polygon, Ethereum and Bitcoin. Today, it has grown into one of the largest NFT marketplaces with over 8,000 collections, about $3 billion in NFT transactions and 22 million unique monthly visitors. In June 2022, Magic Eden raised $130 million in a Series B round that granted it unicorn status.

We discussed why Magic Eden expanded its support to other blockchains, adding BRC-20 token support to its secondary platform and how the company plans on staying competitive in the constantly changing market.

We also talked about:

• NFT market volatility
• Royalty fees
• Web3 gaming expansion
• Advice for NFT community

Need to catch up before you listen? Read these for a quick overview:

• August 2022 episode: Magic Eden threatens OpenSea’s NFT dominance (w/ Jack Lu)
• Magic Eden raises $130M, hitting unicorn status at $1.6B valuation
• NFT marketplace Magic Eden integrates with Polygon to grow blockchain gaming
• Magic Eden exec sees NFT gaming like the ‘early days of mobile gaming’
• Magic Eden launches Bitcoin marketplace as Ordinal inscriptions continue to grow

Chain Reaction comes out every other Thursday at 12:00 p.m. ET, so be sure to subscribe to us on Apple Podcasts, Spotify or your favorite pod platform to keep up with the action.

Chain Reaction comes out every Thursday at 12:00 p.m. ET, so be sure to subscribe to us on Apple Podcasts, Spotify or your favorite pod platform to keep up with the action.