What Is Magic Eden?
Magic Eden is one of the largest NFT marketplaces on Solana and has expanded to support Ethereum, Bitcoin Ordinals, and other chains. It allows users to discover, buy, sell, and mint NFTs with low fees and a straightforward interface. It remains the dominant NFT trading venue on Solana.
How Magic Eden Works
Magic Eden operates as a peer-to-peer NFT marketplace. Sellers list NFTs at a fixed price or accept offers, and buyers can purchase directly or place bids. The platform charges a percentage fee per sale and passes through the NFT collection’s creator royalty if one is set. Magic Eden also supports launchpad minting, where new NFT collections deploy their public mint directly on the platform.
Multi-Chain Expansion
Magic Eden started as a Solana-only platform but expanded significantly. It now supports Bitcoin Ordinals (allowing inscription-based digital artifacts to trade on its interface), Ethereum NFTs, and Polygon. This multi-chain expansion positioned Magic Eden as a broader NFT trading hub rather than a Solana-specific venue.
The ME Token
ME is Magic Eden’s native token, launched in late 2024. It serves as a governance token for protocol decisions and rewards active traders on the platform through various incentive programs.
FAQ
Magic Eden is a multi-chain NFT marketplace primarily known for Solana NFTs. Users can buy, sell, and mint NFTs on the platform. It has expanded to support Bitcoin Ordinals and Ethereum.
Magic Eden charges a marketplace fee per sale (typically a small percentage of the sale price). Creator royalties, if set by the collection, are also deducted from sale proceeds. There is no fee to browse or list.
ME is Magic Eden’s governance token. It was launched in 2024 and is used for protocol governance decisions and as an incentive for active platform participants.
Connect your Solana wallet to magiceden.io, navigate to your wallet, select the NFT you want to sell, choose List, and set your price in SOL. The NFT will be listed immediately and visible to buyers on the platform.
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