The multichain NFT marketplace is beginning the rollout of its long-awaited token.
The Magic Eden Foundation has introduced its official dApp token, $ME.
Magic Eden is a multi-chain NFT marketplace and touts itself as the “#1 Bitcoin dApp, NFT and Runes platform in the world.” The protocol will adopt $ME as its official ecosystem token, which will act as an incentive mechanism as Magic Eden pushes into the world of mobile consumer dApps.
The platform gained popularity as the leading Solana NFT marketplace during the NFT boom in 2021 and 2022, and currently supports Bitcoin Ordinals, Runes, and NFTs on Solana, Ethereum, Polygon, and Base.
Per the foundation’s press release, “Magic Eden has surpassed $6B in total trading volume, is the top NFT platform, representing >60% of all NFT revenue, and the top Bitcoin platform with 80%+ of Ordinals and Runes trade volume. Runes is now the most popular Bitcoin fungible standard, comprising over 60% of all Bitcoin transactions.”
It is presumed that Magic Eden’s diamonds program, akin to a points program, will translate into users’ airdrop distributions. The token claim will take place on Magic Eden’s native wallet, available on iOS and Android operating systems.
The tokenomics and airdrop date are yet to be revealed.
Source: https://thedefiant.io/news/nfts-and-web3/magic-eden-announces-native-usdme-token