CandleFocus

Users Slam NFT Marketplace Magic Eden After Domain Changes

NFT marketplace Magic Eden has decided to split its domains between the US and other global regions, raising concerns among US users about how the changes will affect them. The move is seen as a response to potential regulatory scrutiny following the recent Wells Notice issued against OpenSea by the US Securities and Exchange Commission (SEC). Despite facing backlash, Magic Eden remains a dominant force in the NFT market, holding 36.7% of the market share, and recording a monthly trading volume of $122.47 million in August. However, the NFT sector as a whole is struggling, with a recent report revealing that 96% of NFT projects have failed.

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