ME – Magic Eden and the journey to become the community's NFT token
If you've ever browsed NFT markets, you are likely familiar with Magic Eden – a multi-chain NFT marketplace where buyers and sellers can jump in from Solana, Ethereum, Bitcoin, and many other chains. Now they have their own token: ME – a governance + utility token for those who want to participate more deeply in this ecosystem.
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🔍 What ME brings
• Governance rights: ME holders can vote on fun decisions (such as updating marketplace features, vinyl royalty policies, cross-chain development direction).
• Discounts when using Magic Eden products: Reduced NFT transaction fees, selected advantages in launchpads, rewards for participating in ecosystem activities.
• Clear tokenomics: ME has a total supply of 1 billion tokens. About 12.5% is allocated for airdrops to active users on Bitcoin, Solana, EVM. The undistributed parts are reserved for staking rewards and system development.
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⚠️ Things to consider
• Current price vs ATH: ME once reached a high ATH (nearly $17 according to CoinGecko) but is currently priced much lower, having dropped significantly from its peak.
• High competition intensity: The NFT + marketplace space is very fierce – OpenSea, Blur, LooksRare… all have strong products. ME needs to continuously innovate to avoid falling behind.
• Influence depends on actual adoption: Governance or utility tokens without users, transactions, and NFTs generating real activity can easily become more of a “concept token” than a “value token”.
