For this week’s episode, we’re resharing a conversation I had in June 2023 with Jack Lu, CEO and co-founder of Magic Eden.
When we recorded this episode, NFT sales were down around $640 million at the beginning of the month, compared to today where February 2023 NFT sales volume hit $1 billion, for the first time since February 2023.
Looking back on this conversation, we decided this episode was a great addition to the NFT series to add some context for what a crazy year it has been, how much things have changed (and some things stayed the same) especially for people building in the NFT space.
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. In June 2022, Magic Eden raised $130 million in a Series B round that granted it unicorn status.
We discussed why the NFT marketplace expanded its support to other blockchains, its BRC-20 token support and how the company plans on staying competitive in the constantly changing market.
We also talked about:
(0:00) Introduction
(2:46) Bitcoin ecosystems and new technology standards
(7:30) Magic Eden’s place within NFT marketplaces
(19:05) Royalties and creator monetization
(24:42) NFT’s staying power
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Space and Time wants to help LLMs and AI agents get on-chain (w/ Scott Dykstra)
Whoever rules the data rules the world (w/ Tegan Kline)
Blockchain tech is working to combat AI-based deepfakes (w/ Melody Hildebrandt and Mike Blank)
Blockchain could be the answer to getting AI artists paid (w/ Dee Goens)
Starbucks Odyssey’s community lead expects NFT brand building to expand this year (w/ Steve Kaczynski)
Web3 brands and NFTs are on a global race for adoption (w/ Yat Siu)
OpenSea’s CEO sees greater opportunity for NFT use cases to grow (w/ Devin Finzer)
SEC Commissioner sees a need for a new Token Safe Harbor Proposal (w/ Hester Peirce)
Read Write Own this episode with a16z’s crypto partner (w/ Chris Dixon)
Bonus Episode: Worldcoin is going on a race to billions of users “as fast” as it can (w/ Alex Blania)
Solana Mobile is just getting started (w/ Anatoly Yakovenko)
Ripple president talks XRP Ledger, SEC suits, and 2024 plans (w/ Monica Long)
Bitcoin spot ETFs has been approved in the U.S. (w/ Michael Sonnenshein)
All roads seem to be leading to a U.S. spot bitcoin ETF approval soon (w/ Fred Thiel)
You should join a crypto social club w/ Boys Club co-founders (re-release)
Algorand foundation CEO sees tokenization as key sector to scale crypto (w/ Staci Warden)
Robinhood’s still on a quest to make crypto mainstream (w/ Johann Kerbrat)
Crypto VC space may be on the cusp of recovery (w/ David Pakman)
Optimism is optimistic for the future of Ethereum (w/ Jing Wang and Ryan Wyatt)
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