Magic Eden, one of many distinguished multi-chain non-fungible token marketplaces, has launched its native token $ME to energy its NFT ecosystem. The brand new $ME coin has gained large traction amongst crypto merchants, changing into one of many most-traded crypto tokens on numerous crypto trade platforms. On this article, we will discover in-depth a number of the utilities linked to the brand new Magic Eden ($ME) token.
#Binance will record @MagicEden $ME with Seed Tag utilized.
➡️ https://t.co/sYLnw1Y2rH pic.twitter.com/uA0xS9acBX
— Binance (@binance) December 10, 2024
Magic Eden Introduces Its Native Token $ME
In a December 10 website publication, Magic Eden confirmed introducing its native crypto token duped “$ME.” The child crypto token has acquired a heat reception among the many broader crypto and non-fungible token communities. Magic Eden’s was first listed on Binance, one of many largest cryptocurrency exchanges by buying and selling quantity, serving over 185 million crypto customers throughout 180 international locations. Instantly after the itemizing announcement, Magic Eden’s ME token skyrocketed by over 53%.
At the moment’s the day you’ve been ready for. $ME is right here.
Don’t guess — Watch this video beneath and learn to declare in mere minutes.
You’ve gotten till February 1st 2025 to say, any unclaimed tokens can be distributed to stakers.
Extra information on this later. pic.twitter.com/NWFmnCaSEv— Magic Eden 🪄 (@MagicEden) December 10, 2024
Launched in September 2021, Magic Eden is among the main multi-chain NFT marketplaces supporting non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin blockchain community. Not too long ago, it added help for Arbitrum and ApeChain networks. Magic Eden has quickly grown to develop into one of the vital distinguished NFT market platforms on the Solana blockchain community, the place it was initially launched.
Magic Eden allows customers to create, purchase, promote, and gather NFTs. The NFT market options a number of merchandise, together with a Launchpad, which permits creators to develop and commerce digital merchandise collections on the Magic Eden website as an alternative of internet hosting them on their infrastructure. Magic Eden additionally has a crypto pockets designed to supply a user-friendly and safe custodial expertise.
Magic Eden’s ME Token Distribution
Based mostly on the Magic Eden tokenomics distribution information, the brand new ME Token encompasses a whole provide of 1 billion ME tokens deliberate to be distributed over a interval of 4 years, with a big token portion allotted to group and ecosystem improvement to make sure sustained development and person engagement. The NFT market has allotted 12.5% of the whole provide for an preliminary NFT group declare, absolutely unlocked from December 10. This group consists of early adopters and customers throughout Bitcoin, Solana, and EVM ecosystems.
Moreover, Magic Eden has allotted 37.7% of the availability to different classes, with 22.5% shifting to reward lively customers by means of Magic Eden’s rewards program, which inspires buying and selling and staking. Out of the 37.7% ME tokens, Magic Eden has allotted 15.2% for ecosystem improvement, supporting advocates and creators, structured as long-term agreements to align with long-term stakeholders.
The Magic Eden staff has additionally allotted 26.2% of the whole ME tokens provide to its contributors, together with its staff, advisors, and early supporters. Lastly, it has allotted 23.6% of $ME tokens for traders and advisors, possible with a gradual launch schedule to help strategic partnerships and development. Magic Eden has open portals for its customers to say ME tokens primarily based on their actions on the platform from December 10, 2024, to February 1, 2025.
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