Magic Eden (ME)

Magic Eden is the largest NFT marketplace on the Solana blockchain. It allows traders to buy, sell, mint and manage tokens, and it includes a thriving secondary market.

Seed Round: $2.5M

Series A Round: $27M

Series B Round: $130M

Whitepaper

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Interest lvl

High

Updated: Jan 27, 2025

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User Rating

Medium

3/5 • 1 votes

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Ticker

ME

Type

Utility-token

Token standard

SPL-20

FoundedUnited States

Registration countryUnited States

Registration year2019

Office address160 Spear Street Suite 1000 San Francisco, CA 94105 United States

Ecosystems

Arbitrum Ethereum Solana

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What is Magic Eden

Magic Eden is a decentralized NFT marketplace built on the Solana blockchain, rapidly rising to prominence due to its fast transaction processing speeds and low fees, capturing over 90% of Solana's NFT trading volume.

The platform not only offers innovative features such as a launchpad, popular collections leaderboard, attribute filters, and auctions but also launched the Magic Eden Wallet, a cross-chain cryptocurrency wallet focused on NFT management and security. Magic Eden's partnership with Aethir further extends its influence within the gaming ecosystem, while the launch of the ME token heralds a new era of cross-chain trading and dApp integration. In the Bitcoin (BTC) market, Magic Eden has surpassed a 70% market share, with approximately 78% of its trading revenue coming from the Bitcoin NFT market, demonstrating its strong influence and ongoing commitment to this emerging market.

The most important feature of Magic Eden to date is the Launchpad for minting and reviewing NFTs, which is designed to simplify the process for creators. To mint an NFT on Magic Eden, creators do not need a strong technical background; they only need to provide documentation showcasing their intended work and its underlying meaning, while Magic Eden takes care of the rest of the process.

The Magic Eden ecosystem is developing dynamically and can already boast a number of other products, such as Eden Games (a gaming segment that accounts for more than 90% of the secondary market) and Magic Eden Wallet (a cross-chain cryptocurrency wallet focused on NFTs).