Serum Partners with Magic Eden, Powering SFT Marketplace for Genopets with its Asset Agnostic Orderbook
The Serum community is excited to announce partnership with Magic Eden, the leading NFT marketplace on Solana, powering the first Semi-Fungible Token (SFT) marketplace with its Asset Agnostic Orderbook (AAOB).
The first game utilizing this marketplace is the popular move-to-near NFT game Genopets. With the SFT marketplace, Genopets community members can mint, trade in-game SFTs including Crystals and Terraform Seeds.
This partnership is significant in the GameFi, NFT and Serum development in many ways.
1) Magic Eden, the go-to destination for NFT creators and traders on Solana, is expanding into GameFi through this partnership with Genopets. The streamlined experience for gamers, enabling minting and trading of SFTs, opens up possibilities to onboard many other games and gamers to the Solana GameFi ecosystem.
2) SFTs, like Crystals and Terraform Seeds in Genopets, are not 1:1 like NFTs, and can be “stacked” redeemed in greater quantities. Enabling the trading of SFTs on Magic Eden brings familiar Web2 gaming mechanisms like “stackable” assets onto Solana.
3) Serum’s AAOB, or Serum Core, is an upgrade to Serum that allows Serum to match orders of trades of any asset. This includes assets that cannot be tokenized but can still benefit from an orderbook.
The design of Serum Core makes Serum’s architecture suited to modularity. Programs that use Serum will now have more flexibility, all while maintaining some standard design principles and composability. All programs that use Serum will share the same exchange logic, making it possible to match orders across a range of applications with the same instruction.
With Serum Core, Serum becomes a truly universal primitive for any protocol, derivative, spot, or anything else, including trading SFTs within games, that needs a decentralized on-chain matching engine.