ME Token from Magic Eden: A Rising Star in the Multi-Chain NFT World

If you’ve been exploring the world of NFTs, chances are you’ve come across Magic Eden. What started as a Solana-based marketplace has now evolved into a major multi-chain NFT ecosystem. In this article, we’ll take a closer look at how Magic Eden works and what its native ME token brings to the table.

What is Magic Eden?

Magic Eden is a decentralized NFT marketplace that makes it easy to create, buy, sell, and trade NFTs. What sets it apart is its ability to operate across multiple blockchains—something that’s becoming increasingly important in today’s fragmented Web3 space.

The platform first made its mark on the Solana blockchain, known for lightning-fast transactions and ultra-low fees—ideal for NFT activity. But Magic Eden didn’t stop there. It’s expanded to support other major chains like Ethereum, Polygon, Bitcoin (including Ordinals and Runes), Base, Arbitrum, Avalanche, and more.

At its core, Magic Eden relies on smart contracts for secure, transparent transactions. It also uses an order book model to match buyers and sellers efficiently. To use the platform, users connect through popular Web3 wallets like Magic Eden Wallet, Phantom, and MetaMask.

What Makes Magic Eden Special?

Magic Eden is more than just an NFT marketplace—it’s an entire ecosystem designed for both collectors and creators. Here are some of its standout features:

• NFT Market Multi-Chain Support: Magic Eden lets you browse and trade NFTs across multiple blockchains from one place, making it super convenient and increasing overall market liquidity.

• Launchpad for Creators: Their Launchpad is a go-to place for launching new NFT projects. Only top-quality projects make the cut, ensuring that launches have a better shot at success.
• Magic Eden Wallet: This non-custodial wallet lets users manage digital assets across several chains, offering a seamless NFT experience.
• Low Fees & Flexible Royalties: Swapping NFTs across chains costs just 2%, while same-chain swaps are only 0.8%. Listing fees? Zero. And creators can set flexible royalties, so they keep earning from secondary sales.
• NFT Aggregator: Users can shop NFTs from other marketplaces right from Magic Eden, simplifying the buying experience.
• Easy-to-Use Interface: Whether you’re a seasoned trader or new to NFTs, Magic Eden’s interface is clean and intuitive.
• Quests & Diamonds: The platform rewards active users with “Diamonds” for completing tasks and trades. These can later be used for perks, discounts, and future ME token rewards.
  
  

Meet the ME Token

Launched in late 2024, the ME token powers the Magic Eden ecosystem. It plays a central role in community governance and platform incentives, encouraging deeper participation.

What can ME tokens be used for?

• Governance: Token holders get a say in the platform’s future—like voting on new features or policies.
• Transaction Fees: ME tokens can be used to pay platform fees, making trading more streamlined and potentially cheaper.
• Staking & Rewards: Users can stake ME tokens to earn rewards or gain access to exclusive features and future token drops.
• Incentives: A large portion of the token supply is reserved for rewarding users, creators, and developers who contribute to the ecosystem.

The Story of Magic Eden

Magic Eden was born after four friends, each from different professional backgrounds, discovered the potential of NFTs and saw an opportunity to build something better. With experience spanning crypto, DeFi, tech startups, and management consulting, they recognized the shortcomings of existing NFT marketplaces—and set out to change the game.

Sidney Zhang began his journey in crypto back in 2013, working on a Bitcoin Developer API at his first blockchain startup. He later joined Uber in 2015 as a founding engineer for Uber Eats, helping grow the platform from concept to global success. From there, he moved into Uber’s Advanced Technologies Group, focusing on AI-driven projects like computer vision and predictive modeling for self-driving cars. Before co-founding Magic Eden, Sidney was part of Facebook’s AI team, sharpening his expertise in machine learning and large-scale systems.

Jack Lu, who came up with the name "Magic Eden", envisioned a platform that stood for endless possibilities. To him and the team, NFTs weren’t just digital assets—they were the future of art, culture, and ownership. Driven by this belief, the team positioned Magic Eden not just as a marketplace, but as stewards of the NFT ecosystem.

Magic Eden quickly made its mark by becoming the most liquid secondary NFT marketplace and was the first to introduce features like bidding systems, rarity rankings, and a minting platform that connects directly to the secondary market—making it easier than ever for creators and collectors to participate in the NFT economy.

ME Tokenomics: How It’s Allocated

There’s a total supply of 1 billion ME tokens, distributed over four years to ensure stability and long-term growth.

Here’s how they break it down:

• Early Users (12.5% at TGE): These tokens reward early adopters on Bitcoin, Solana, and EVM chains. They’re fully unlocked at launch and distributed via Magic Eden’s mobile app. Unclaimed tokens go back to stakers as rewards.
• Community & Ecosystem (38.4%): 22.5% goes to reward active users through Magic Eden’s rewards programs, 15.9% supports builders and creators with long-term grants, 5% of that is set aside for the ME Foundation to help with protocol support and liquidity.
• Contributors (25.5%): This includes team members, advisors, and employees. Over 60% of these tokens are locked for at least 18 months post-launch to align with long-term success.
• Strategic Partners (23.6%): Allocated to key partners supporting the platform’s development. These tokens are locked for at least 12 months and released gradually.

The phased distribution over four years aims to ensure tokens are released into circulation prudently, preventing market oversupply and fostering sustained growth and participation from all stakeholders. This transparent approach to tokenomics is designed to build trust and long-term value for the Magic Eden ecosystem.

ME Token Price Snapshot

As of 1 July 2025, the ME token is priced at approximately $0.7210 USD (around ฿23.34 Thai Baht), giving it a market cap of about $108.2 million USD (roughly ฿3.5 billion). ME hit its all-time high of $13.24 USD (around ฿429.07) on 10 December 2024.

Reference

• Magic Eden Document