Magic Eden co-founder sees 'speculation supercycle' ahead

Magic Eden CEO and co-founder Jack Lu says his institution volition beryllium well-positioned for the “supercycle” wherever “finance merges with entertainment” amid a caller roar successful prediction markets and betting.

“Speculation is mainstream now. And Magic Eden is gathering for this world,” Lu posted to X connected Monday.

“Prediction markets are each implicit Emmys and the news. Betting is the 2nd fastest increasing manufacture successful the US aft AI. Sportsbook sponsorships are each implicit everyone’s favourite sports broadcasts. Hyper casual games + real-money gaming are converging.”

Lu’s remarks travel arsenic prediction markets’ trading volumes reached a grounds $814.2 cardinal connected Monday, smashing the erstwhile grounds of $701.7 cardinal past Monday, Dune Analytics data shows.

Daily trading measurement connected prediction markets since September 2024. Source: Dune Analytics

Kalshi continues to pb trading volumes crossed politics, finance, sport, and amusement markets, portion Polymarket and Opinion are besides performing strongly.

Magic Eden to capitalize connected speculation

In the aforesaid post, Lu confirmed that its caller crypto casino and sportsbook level Dicey volition motorboat this quarter. The level incentivizes users to big games, spot wagers, and prosecute with friends successful a decentralized environment.

Earlier connected Monday, Magic Eden said tokenholders volition besides get a chopped of immoderate caller initiatives.

A full of 15% of each Magic Eden gross travel volition spell backmost to Magic Eden (ME) token holders, the institution said.

This gross volition beryllium divided arsenic betwixt ME buybacks and staking rewards, paid retired successful the USDC (USDC) stablecoin.

Revenue earned from staking volition beryllium based connected however overmuch ME is staked and for however long, with USDC rewards claimable monthly starting from March. 

Source: Magic Eden

NFT manufacture struggles to bounce back

The announcements travel aft NFT marketplace cap fell from 68% from $7.955 cardinal to $2.5 cardinal successful 2025, CoinGecko data shows.

Organizers of the NFT Paris conference said the marketplace pullback contributed to their canceling the event this year.

“Despite drastic outgo cuts and months of trying to marque it work, we couldn't propulsion it disconnected this year.”

Related: Animoca buys Somo arsenic NFT marketplace rebounds aboriginal successful 2026

Despite the manufacture fall, Lu said Magic Eden maintained a “healthy marketplace business,” bringing successful astir $24 cardinal successful gross implicit the year.

The NFT marketplace has started powerfully successful 2026, with the NFT marketplace headdress backmost implicit $3 billion, a 28% summation implicit the archetypal 20 days.

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