Magic Eden (ME): The Largest NFT Marketplace on Solana

What is Magic Eden (ME)?

Magic Eden (ME) is a major player in the NFT space. It started as the largest NFT marketplace on the Solana blockchain, known for its fast transaction speeds and low fees. Over time, the platform expanded its reach, supporting NFTs on Ethereum, Polygon, and Bitcoin.

Magic Eden helps users trade digital collectibles and launch their NFT projects. Whether you're an artist creating NFTs, a collector looking for rare digital assets, or an investor exploring new opportunities, Magic Eden provides a user-friendly platform to participate in this growing digital culture.

With over 22 million monthly visitors, 8,000+ collections, and a secondary trading volume of $1.9 billion, Magic Eden has cemented itself as a hub for digital expression and ownership.

Who Created Magic Eden (ME)?

Magic Eden was founded in September 2021 by a group of visionaries: Sidney Zhang, Jack Lu, Zhuoxun Yin, and Zhoujie Zhou. These four entrepreneurs brought their unique experiences from industries like crypto, technology, and consulting to create something new.

What VCs Back Magic Eden (ME)?

Magic Eden has the support of some of the biggest venture capital firms in the crypto and Web3 space. These include Paradigm, Sequoia Capital, Electric Capital, Coinbase Ventures, Solana Ventures, Variant Fund, Kindred Ventures, Greylock Partners, Lightspeed Ventures, etc.

How Magic Eden (ME) Works

Magic Eden is designed to be simple and efficient for users. Here's a breakdown of its core features and how they work:

1. Buying and Selling NFTs

Magic Eden makes it easy for users to buy and sell NFTs. The platform’s clean interface allows users to explore collections, filter NFTs by specific attributes, and find what they’re looking for. Transactions on Solana are particularly fast and inexpensive due to the blockchain’s design.

2. Minting New NFTs

One of Magic Eden’s standout features is its Launchpad, which helps creators mint and launch new NFTs. Minting is the process of creating a digital token on the blockchain, and Magic Eden simplifies this for artists and developers. The Launchpad is selective, accepting fewer than 5% of applications, ensuring only high-quality projects are featured. This approach helps maintain the platform’s reputation and provides better exposure for creators.

3. Secondary Marketplace

Magic Eden’s secondary marketplace is where users can trade NFTs after they’ve been minted. The platform holds over 90% of the market share for secondary NFT trading on Solana. Features like popular collection pages and attribute filters make it easier for traders to navigate and find valuable assets.

4. Multichain Support

Although Magic Eden started on Solana, it now supports NFTs on Ethereum, Polygon, and Bitcoin. This multichain approach allows users to access a broader range of digital assets, including Bitcoin Ordinals and Ethereum-based collectibles.

5. Flexible Royalty System

Magic Eden offers a flexible royalty system that benefits both creators and traders. This means that NFT creators can set royalties, earning a percentage of every resale of their work. The system ensures that everyone involved in the NFT’s lifecycle benefits fairly.

6. Low Fees

The platform charges a uniform 2% transaction fee for secondary market trades. Combined with Solana’s low gas fees, this makes Magic Eden a cost-effective choice for NFT enthusiasts.

ME Goes Live on Bitget

Magic Eden is a hub for digital culture. With its robust features, high-quality standards, and support from leading investors, the platform is poised to grow even further. As the NFT space evolves, Magic Eden’s multichain capabilities and focus on innovation will keep it at the forefront of the industry.

For anyone looking to explore the world of NFTs, Magic Eden offers a welcoming and efficient platform. With its low fees, user-friendly interface, and commitment to quality, Magic Eden is an excellent choice for anyone interested in the NFT space.

So, why not take the first step and explore the magic of Magic Eden by trading the native token of Magic Eden, ME, on Bitget today?

ME on Bitget Pre-Market

ME is a part of Bitget Pre-Market , a platform where users can trade tokens over-the-counter before the token is listed for spot trading. Join now to get the best out of it!

Start time: 22 November, 2024

Bitget Pre-Market offers flexibility in trading activities with two settlement options:

● Coin settlement, which uses a 'cash on delivery' method where a security deposit is forfeited if the seller fails to deliver.

● USDT settlement, a new option where trades are settled in USDT at the average index price at the last minute.

To use Bitget Pre-Market, follow these simple steps:

● Step 1: Go to the Bitget Pre-Market page .

● Step 2:

○ For Makers:

■ Choose the desired token and click on ‘Post Order’.

■ Specify Buy or Sell, enter price and quantity, review details, then confirm.

○ For Takers:

■ Choose the desired token, pick ‘Sell’ or ‘Buy’, select the pending order, enter quantity, and confirm.

Get ME on Bitget Pre-Market now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.