Magic Eden has announced its acquisition of Slingshot, a mobile-first on-chain trading platform, marking a strategic expansion into broader token trading. This move positions Magic Eden to rival centralized exchanges by supporting trading across millions of tokens. Despite declining NFT transaction volumes, co-founder and CEO Jack Lu remains optimistic about the future of NFTs, emphasizing their potential for mainstream adoption. The acquisition signifies a shift towards a diversified asset class, potentially expanding Magic Eden's user base. Details of the acquisition remain undisclosed, but the deal is confirmed complete.