Magic Eden seems to be the market leader in Solana NFT. The marketplace, founded in October and now controls 90 percent or more of all trading traffic on Solana, was assessed at $1.6 billion as of the company's most recent VC funding round in June.

Those in the Solana NFT society are worried that Magic Eden has been too "centralized" in its climb to renown.

Because of these modifications, users' assets may have been in danger, such as Magic Eden's control over NFTs and recent revisions that limit third-party organizers and tools access.

According to Marty, the imaginary founder of Zion Labs, which develops Solana NFT tools, and who talked with Decrypt, people should be aware that a hacker might gain the Magic Eden keys and "rug" all NFT users. This would not happen if their code were open-source and decentralized.

In Solana Eden, the NFT Marketplace Magic raises $130 million and prepares to expand across many distribution chains.

Escrow-free transactions will be used in the future, but market players are not confident in their safety today.