Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

XRP risks fall to $ 1.55 if this level of support failed – analyst

2025-05-25

Taurus flag pattern Tips FET for $ 9.33 price target

2025-05-24

Lima becomes Innovation -Picentrum with Meta Pool and NTT Data Hackathon

2025-05-24
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Lima becomes Innovation -Picentrum with Meta Pool and NTT Data Hackathon

    2025-05-24

    Archer Hunter Partners with tilted on chain gaming on Sei

    2025-05-24

    What is BNB chain Maxwell hardfork?

    2025-05-24

    Collect collaborations with Ecocreds to accelerate sustainability in chains

    2025-05-24

    Enjin Blockchain makes cross-chain stablecoin transfers possible with Hyperbridge

    2025-05-24
  • NFT

    Trump’s controversial memecoin dinner aroused mixed reactions from those present on

    2025-05-24

    NFT -turnover drops to $ 129.8 million, Avalanche Sales Surge 200%

    2025-05-24

    Alchemy acquires NFT Launchpad Heymint to speed up the development of Smart Wallet

    2025-05-23

    Delorean launches a car marketplace on the chains with Patrick Stewart

    2025-05-23

    Beratone NFT Avatars are now live on OpenSea

    2025-05-23
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    XRP risks fall to $ 1.55 if this level of support failed – analyst

    2025-05-25

    Bitcoin Nossedives 4% Because Donald Trump threatens rates for imported iPhones and EU products

    2025-05-24

    Billionaire Bill Ackman collapses $ 1,039,000,000 in a single active in large portfolio shift: report

    2025-05-24

    ETH starts his climb to a milestone of $ 3K

    2025-05-24

    Hyperliquid’s market momentum pushes hype to new high

    2025-05-24
  • Learn

    Wat is circulerende levering in cryptocurrency?

    2025-05-23

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»Magic Eden unveils ME token that can be claimed through its wallet
NFT

Magic Eden unveils ME token that can be claimed through its wallet

2024-08-22No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Leading NFT marketplace Magic Eden is shaking up its token plans.

Months later revealing plans to launch a fungible token with the NFT ticker in partnership with a mysterious organization called the Non-Fungible DAO, Magic Eden announced Thursday that it will instead stick with its existing branding: an ME token from the rebranded ME Foundation.

Details about when the ME token will launch and how it will be distributed – including via a possible airdrop to Magic Eden merchants who have earned Diamond rewards (aka points) – are still unclear. However, we know that the token can only be claimed via the Magic Eden Wallet on mobile and desktop.

ME Foundation Director Matt Szenics shared Declutter that the original idea behind the “NFTThe token name was intended to essentially claim a ticker that could represent the asset class, i.e. non-fungible tokens or blockchain tokens that represent ownership of unique items such as works of art, rare video game items and more.

“The ambition was, Hey, it would be really bullish if we just locked this token ticker to basically get people to think of us as the NFT token project,” he said. “And it’s pretty easy, right? And you represent the asset class of the future, worth billions.”

But a few things happened after that, he recalled. Firstly, Magic Eden quickly rose to number one in the NFT space in terms of trading volume, supported by increased demand for Bitcoin Ordinals early this year, prior to the halving.

And second, the multi-chain Magic Eden began expanding beyond NFTs, which has been the platform’s focus since its initial launch on Solana in 2001. Magic Eden launched its own cross-chain wallet after an initial beta rollout late last yearand then debuted support for Runes-A Bitcoin version of fungible tokens, launched in April.

See also  Polygon zkEVM integration with OKX NFT Marketplace

As Magic Eden’s ambitions grew, Szenics said the Foundation and Magic Eden itself – where he previously worked – decided to stick with the branding that had built so much recognition in the crypto world over the past three years.

“We want this to represent something bigger than just NFTs, especially if we later adopt protocols that represent fungible token standards,” he said, adding that the ME Foundation team wanted to “give ourselves room” to expand beyond the NFT market to expand. and launch a community token for many purposes.

“That doesn’t mean we’re not optimistic [NFTs]”, he added.

The ‘we’ in those comments refers to the ME Foundation, not Magic Eden, although there is clearly potential for confusion with the shared branding.

Despite the name swap for the token and the Foundation’s support, Szenics said the core details otherwise remain the same. The ME Foundation is being built around the various NFT protocols that Magic Eden built and then granted to the Foundation, making them open-source and freely available for use by other marketplaces and platforms.

So the goal is to encourage other companies to adopt those NFT protocols and smart contracts – and also to adopt the ME token. Szenics said the ME Foundation will eventually provide developer token grants to help platforms and their users, hoping to make the ME token broadly useful beyond just Magic Eden itself.

Despite the shared branding, Szenics also emphasized that the Cayman Islands-based ME Foundation is a separate entity from Magic Eden, and that this is not simply a thinly veiled form of “decentralization theater.”

See also  Solana-based meme token BONK climbs to an all-time high

Currently, a two-person team, including former Magic Eden CEO Tiffany Huang, has formally spun off ME Foundation employees from Magic Eden — and even locked them out of the startup’s Slack server, he said.

The ME Foundation is a separate company with its own charter and an agreement to use Magic Eden’s brands, he added. They plan to expand the team as the Foundation oversees the ME launch and upcoming token distribution, encouraging growth and adoption in the crypto space and managing the ultimate leadership. DAO of token holders.

Sticking with the Magic Eden branding is a tribute of sorts to Magic Eden, Szenics said, even though the future of the ME token could include protocols built by other teams.

“It’s almost a tribute to the original builders of the protocols,” he said. “Who knows what protocols the Foundation will have in the future? But it is there to start with – and the facts are that the original builder was Magic Eden.”

“Now they are open source,” he said of the protocols underlying the ME Foundation and the token. “They belong here.”

Source link

claimed Eden Magic Token unveils Wallet
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump’s controversial memecoin dinner aroused mixed reactions from those present on

2025-05-24

NFT -turnover drops to $ 129.8 million, Avalanche Sales Surge 200%

2025-05-24

Pi Network Token makes debut debut on Kraken with eternal futures with 20x leverage

2025-05-24

Alchemy acquires NFT Launchpad Heymint to speed up the development of Smart Wallet

2025-05-23
Add A Comment

Comments are closed.

Top Posts

Forbes and The Sandbox create a celebratory metaverse quest with prizes

2023-07-04

Secret network promotes privacy-uphold AI agents in collaboration with Project Zero

2025-02-21

Poly Network announces the complete termination of all services

2024-09-15
Editors Picks

15K Bitcoin Removed from Exchanges – Traders Preparing for BTC’s Rally?

2024-10-26

Top Layer 2 Projects to Consider in 2023

2023-05-05

Stablecoin market cap flashes positive sign for crypto liquidity, according to analytics firm IntoTheBlock

2023-12-16

China’s New FX Rules Escalate Crackdown on Cryptocurrencies – What’s Next?

2025-01-02
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

XRP risks fall to $ 1.55 if this level of support failed – analyst

Taurus flag pattern Tips FET for $ 9.33 price target

Lima becomes Innovation -Picentrum with Meta Pool and NTT Data Hackathon

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%
  • bitcoinBitcoin(BTC)$110,422.60-0.12%
  • ethereumEthereum(ETH)$2,651.881.61%
  • tetherTether USDt(USDT)$1.00-0.02%
  • rippleXRP(XRP)$2.420.78%
  • binancecoinBNB(BNB)$683.320.50%
  • solanaSolana(SOL)$180.372.50%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2425701.84%
  • cardanoCardano(ADA)$0.812.40%
  • tronTRON(TRX)$0.2731790.29%
  • suiSui(SUI)$3.82-5.40%
  • hyperliquidHyperliquid(HYPE)$35.0515.09%
  • chainlinkChainlink(LINK)$16.591.94%
  • avalanche-2Avalanche(AVAX)$24.963.88%
  • stellarStellar(XLM)$0.3003471.03%
  • shiba-inuShiba Inu(SHIB)$0.0000152.04%
  • bitcoin-cashBitcoin Cash(BCH)$437.635.60%
  • hedera-hashgraphHedera(HBAR)$0.2025991.17%
  • unus-sed-leoUNUS SED LEO(LEO)$8.86-0.04%
  • the-open-networkToncoin(TON)$3.130.01%
  • polkadotPolkadot(DOT)$4.912.42%
  • litecoinLitecoin(LTC)$99.771.73%
  • moneroMonero(XMR)$392.06-0.86%
  • bitget-tokenBitget Token(BGB)$5.789.96%
  • pepePepe(PEPE)$0.00001510.83%
  • piPi(PI)$0.79-4.78%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • uniswapUniswap(UNI)$6.421.77%
  • bittensorBittensor(TAO)$458.95-2.84%
  • aaveAave(AAVE)$254.341.11%
  • nearNEAR Protocol(NEAR)$3.033.54%
  • aptosAptos(APT)$5.818.34%
  • ondo-financeOndo(ONDO)$1.011.19%
  • okbOKB(OKB)$52.83-0.29%
  • kaspaKaspa(KAS)$0.114524-0.41%
  • internet-computerInternet Computer(ICP)$5.612.68%
  • ethereum-classicEthereum Classic(ETC)$19.450.44%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.54-6.39%
  • gatechain-tokenGateToken(GT)$21.930.56%
  • render-tokenRender(RENDER)$5.164.81%
  • crypto-com-chainCronos(CRO)$0.0989160.05%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2494370.54%
  • vechainVeChain(VET)$0.0302161.31%
  • mantleMantle(MNT)$0.761.52%
  • ethenaEthena(ENA)$0.4169882.88%
  • worldcoin-wldWorldcoin(WLD)$1.5321.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.13%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.9010.09%
  • arbitrumArbitrum(ARB)$0.4241670.99%