Magic Eden (ME): Magiceden.IO

Download the Magic Eden App today and full control of your digital assets - Improved swap formatting, token claim visuals, and NFT send processing.

Magic Eden is the leading community-centric NFT marketplace. Home to the next generation of creators. Discover the best and latest NFT collections today.

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Download the Magic Eden App today NFT send processing.

Magic Eden App is more than just another crypto wallet. It’s a secure and easy app to trade, track and analyze all your digital assets, all in one app.


Trade anytime, anywhere: Features to put digital assets right at your fingertips. Find tokens across Solana (SOL), ETH (Ethereum) and Bitcoin (BTC) ecosystems


Security First: We use advanced Secure Element technology and encryption to keep your keys and digital assets safe. We’ve also been independently audited by security firms, providing you with additional layer of trust and protection.


Complete control: Self custody is a core feature that puts you in full control of all your digital assets and private keys. Your data and your assets remain under your control, at all times.


Download the Magic Eden App today and full control of your digital assets with the security, functionality and market information you deserve.

What’s New:


- Swap Screen Improvements: Better error handling for slippage settings.

- Portfolio Privacy: Added the option to hide your balance.


Improvements:


- Smoother Experience: Removed unused dependencies and optimized feature management.

- Better Fonts & UI: Replaced the Fixture font with Inter for improved readability.


Bug Fixes:


- Improved BTC spendability, fixed transaction history crashes, and enhanced swap formatting.

- Improved swap formatting, token claim visuals, and NFT send processing.


What is Magic Eden?
Magic Eden is an NFT platform built on the Solana Blockchain that offers users the ability to launch, mint, buy, sell, and manage NFTs.

Magic Eden is the premier NFT platform on Solana and holds 90% of the network’s market share for secondary trading volume, and 93% of the network’s NFT gaming trading volume.

By building on Solana, Magic Eden can offer lower gas fees, faster transactions, less energy consumption, and more scalability than the NFT marketplaces built on Ethereum. Furthermore, Magic Eden strives to make the creation of NFTs both easy and accessible through their simple launchpad and minting process. Magic Eden’s launchpad takes the technical work out of creating an NFT and allows users to easily upload their artwork and customize their settings.

How Does Magic Eden Work?
Magic Eden Marketplace
Magic Eden’s primary product is their secondary marketplace. Projects must first apply to list their NFTs on the Magic Eden Marketplace, but after approval, the NFTs can be freely traded, bought, and sold. The marketplace has several unique features and benefits that provide users extra value, such as:

A popular collections page that showcases which projects are popular and allows users to find trending NFTs
An attributes filter that allows users to quickly filter through NFTs and find specific designs
A comprehensive stats page that showcases each NFTs total supply, volume percentage, floor price, and value, thus allowing users to conduct better research and make more educated investments
Magic Eden Collections

Magic Eden Popular Collections (Source: Asia Crypto Today)

Magic Eden Launchpad
The Magic Eden Launchpad is the project’s exclusive minting platform. The key purpose of the launchpad is to make minting simple, seamless, and secure for creators worldwide. The Magic Eden Launchpad requires minimal technical experience and provides creators with extensive support and help throughout the minting process.

To launch an NFT collection with Magic Eden, users must apply to join the launchpad. Less than 5% of all applications are accepted, and only the best projects can be launched on Magic Eden. This ensures the Solana community can trust all the NFT collections released on Magic Eden to be secure, reliable, and high-quality projects that have been thoroughly vetted.

Magic Eden also provides their launchpad projects with marketing support prior to their launch, thus, helping the project gain exposure and reach. And lastly, Magic Eden also has an exclusive creator community where approved projects can collaborate and receive crowdsourced support and feedback.

Overall, Magic Eden’s launchpad isn’t just a minting platform, but a supportive and exclusive community that empowers creators.

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Magic Eden Whitelabel Marketplaces
Magic Eden also provides technological infrastructure for other crypto projects. Magic Eden provides the underlying technology that allows projects to create their own marketplace or to add mint-functionalities. Magic Eden’s technology currently powers Raydium, Thugstore, and Galactic Geckos, three Solana based NFT projects.

Magic Eden and Raydium

Magic Eden and Raydium Collaboration (Source: Raydium Twitter)

Magic Eden DAO
Magic Eden very recently launched their MagicDAO. The DAO currently has limited control and the majority of decisions are still being made by the centralized Magic Eden Team. The MagicDAO is managed through discord and provides users with the ability to vote on:

Which NFT projects to feature on the marketplace’s homepage
How to use the MagicDAO treasury fund
Certain operational rules and decision
Participation in the DAO is restricted to holders of Magic Edens NFT, “Magic Ticket.” In total, 30,000 Magic Ticket NFTs were created and airdropped to the oldest and most active Magic Eden users. These NFTs can be sold on the secondary market and the current floor price is 0.16 SOL.

Magic Ticket NFT

Magic Ticket NFT (Source: Magic Eden)

Who Is Behind Magic Eden?
Magic Eden was co-founded by Zhouxun Yin, Sidney Zhang, and Jack Lu. All three co-founders have impressive resumes filled with experience at top firms.

Zouxun Yin previously worked for Coinbase and Bain & Co; Sidney Zhang (CTO) previously worked for Facebook and Uber, and Jack Lu (CEO) previously worked for Boston Consulting Group and Google. This wealth of institutional experience is undoubtedly a valuable asset for the project going forward.

Magic Eden has received a total of $30 million in funding through its Seed and Series A rounds. The project is backed by an impressive list of investors including Paradigm, Sequoia, Coinbase Ventures, Greylock and Solana Ventures.

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Magic Eden vs OpenSea
Investors that have been paying attention to the NFT industry have likely heard about OpenSea. OpenSea is the premier NFT marketplace in crypto and has captured over 80% of the world’s total NFT market share. OpenSea is primarily an Ethereum based platform that supports Ethereum built NFTs; as a result, OpenSea suffers from many of the same issues the Ethereum network does, such as high gas fees, high energy consumption, low scalability, and low transaction speeds. Magic Eden on the other hand is built on Solana. This allows Magic Eden to take advantage of the faster speeds, lower fees, and lower energy consumption rates the Solana network offers.

That being said, just this past month, OpenSea announced they will begin offering support for Solana based NFTs. OpenSea expanding into the Solana marketplace is not great news for Magic Eden. OpenSea is the most dominant player within the NFT market, has much more funding, better brand recognition, more technical experience, and is incredibly well-positioned to start competing with Magic Eden for the Solana NFT market. For reference, Magic Eden had $41 million in trading volume over the last 30 days, whereas OpenSea had $2.64 billion in trading volume.

Despite this massive difference in size, Magic Eden does have some advantages over OpenSea. For starters, Magic Eden has the first-mover advantage in the Solana NFT market and currently dominates 90% of the market share. This will provide Magic Eden with some buffer room to fend off OpenSea’s expansion. Furthermore, Magic Eden still offers lower fees than OpenSea and provides some unique features that OpenSea does not currently offer. Lastly, despite seeing less total trading volume, Magic Eden does see higher total daily transactions. This means that on average, Magic Eden users are more active and involved than OpenSea users.