Magic Eden to Capitalize on Hypothesis Supercycle


Magic Eden CEO and co-founder Jack Lu says his firm might be well-positioned for the “supercycle” the place “finance merges with leisure” amid a current increase in prediction markets and betting.

“Hypothesis is mainstream now. And Magic Eden is constructing for this world,” Lu posted to X on Monday.

“Prediction markets are throughout Emmys and the information. Betting is the second quickest rising trade within the US after AI. Sportsbook sponsorships are throughout everybody’s favourite sports activities broadcasts. Hyper informal video games + real-money gaming are converging.”

Lu’s remarks come as prediction markets’ buying and selling volumes reached a report $814.2 million on Monday, smashing the earlier report of $701.7 million final Monday, Dune Analytics knowledge exhibits.

Day by day buying and selling quantity on prediction markets since September 2024. Supply: Dune Analytics

Kalshi continues to steer buying and selling volumes throughout politics, finance, sport, and leisure markets, whereas Polymarket and Opinion are additionally performing strongly.

Magic Eden to capitalize on hypothesis

In the identical publish, Lu confirmed that its new crypto on line casino and sportsbook platform Dicey will launch this quarter. The platform incentivizes customers to host video games, place wagers, and interact with pals in a decentralized atmosphere.

Earlier on Monday, Magic Eden mentioned tokenholders may also get a lower of any new initiatives.

A complete of 15% of all Magic Eden income stream will return to Magic Eden (ME) token holders, the corporate mentioned.