Magic Eden co-founder sees ‘speculation supercycle’ ahead
Magic Eden CEO and co-founder Jack Lu says his firm will likely be well-positioned for the “supercycle” the place “finance merges with leisure” amid a current growth 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 business 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.
Each 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 submit, 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 buddies in a decentralized surroundings.
Earlier on Monday, Magic Eden stated 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 stated.
This income will likely be cut up equally between ME buybacks and staking rewards, paid out within the USDC (USDC) stablecoin.
Income earned from staking will likely be based mostly on how a lot ME is staked and for a way lengthy, with USDC rewards claimable month-to-month ranging from March.
Supply: Magic Eden
NFT business struggles to bounce again
The bulletins come after the NFT market cap fell 68% from $7.95 billion to $2.5 billion in 2025, CoinGecko knowledge exhibits.
Organizers of the NFT Paris convention stated the market pullback contributed to their canceling the occasion this yr.
“Regardless of drastic value cuts and months of attempting to make it work, we could not pull it off this yr.”
Associated: Animoca buys Somo as NFT market rebounds early in 2026
Even with the business’s struggles, Lu stated that Magic Eden maintained a “wholesome market enterprise,” bringing in roughly $24 million in income over the yr.
The NFT market has began strongly in 2026, with the NFT market cap again over $3 billion, a 28% improve over the primary 20 days.
Journal: One metric exhibits crypto is now in a bear market: Carl ‘The Moon’
