Serum July Monthly Recap includes Magic Eden Partnership, Chicago Solana Summer IRL Hackathon, Incentive Ecosystem Foundation Launch.
It’s been a wild ride in the crypto markets over the past couple of months, but Project Serum has kept busy developing the next generation of decentralized applications and protocols. It’s been a hot start to summer this July, and there are exciting things happening in the Project Serum community. Serum July Monthly Recap of some of our biggest highlights from the past month:
Magic Eden Partnership
In July, Serum announced a big partnership with the leading NFT marketplace on Solana, Magic Eden. The collaboration will introduce the first-ever Semi-Fungible Token (SFT) marketplace, and projects are already lining up to take advantage of the platform.
The first project utilizing the SFT marketplace place is the move-to-earn NFT game Genopets. Using the SFT marketplace, players will be able to mint and trade in-game SFTs like Crystals and terraform seeds.
With Magic Eden being the leader in NFT trading on Solana, this partnership and SFT marketplace innovation alongside Serum opens the gates for onboarding more blockchain games and introducing a new wave of users into the Solana GameFi ecosystem.
Chicago Solana Summer IRL Hackathon
Serum contributors and builders from across the Solana ecosystem descended upon Chicago on July 18th to participate in a four-week-long hackathon in the Windy City. The hackathon, which Serum is co-hosting with Hxro Labs and Chicago DAO is designed to promote collaboration and innovation within the Solana ecosystem.
During the hackathon, teams from all over the world will work on a variety of projects that span the gamut of decentralized applications, protocols, and infrastructure. With over $5 million in prizes, this is one of the biggest and hackathons in the blockchain space this summer.
Serum looks forward to seeing what the teams come up with over the course of the next month. It announces the winners and standout projects that emerge from the event.
Incentive Ecosystem Foundation Launch
July was a big month in terms of ecosystem development as well, as Serum launched the Incentive Ecosystem Foundation (IEF). The IEF is a new non-profit foundation that’s dedicated to accelerating the development across the Serum ecosystem.
It will provide funding and resources to support projects and builders that are working on protocols and applications on Serum. It will take an active role in helping Serum expand into the traditional finance space.
Project Serum is a decentralized liquidity infrastructure protocol.