Magic Eden will support compressed NFTs (cNFTs) on Solana.

BlockBeats reported on September 16th that Magic Eden announced yesterday that it will support Solana's compressed NFT (cNFT). Magic Eden stated that this type of NFT is very suitable for creating large-scale production collections in various industries such as games, music, events, and virtual universes. By reducing the production cost of NFTs, it is possible to promote adoption and become an "easy access point" for newcomers to try collecting NFTs. It is reported that cNFTs are different from typical Solana NFTs, as cNFT data is compressed and stored off-chain. Because of this, they can be produced in large quantities as they require less minting fees.