The ME Foundation has announced the launch of the ME token, built on the Solana blockchain and integrated with the Magic Eden NFT platform, scheduled for December 10. The token will be distributed via an airdrop potentially valued at over $500 million, based on preliminary trading prices.
Key Details of the ME Token Airdrop
- Eligibility: Primarily targets Magic Eden users who engage with its cross-chain NFT marketplace and exchange.
- Claim Process: Tokens must be claimed exclusively through the Magic Eden Wallet app.
- Distribution Criteria: Factors include organic trading activity, cross-chain transactions, and user loyalty (based on historical platform usage).
- Total Supply: 1 billion ME tokens, with 125 million (12.5%) unlocked at launch and 225 million (22.5%) reserved for future ecosystem incentives.
Market Valuation Insights
- Pre-launch Trading: ME token peaked at $4.50** on Whales Market, suggesting a **$562 million airdrop valuation.
- Coinbase Listing: Priced at $3.41, indicating a lower potential distribution value.
Magic Eden’s Market Position
Originally a Solana NFT marketplace, Magic Eden now dominates Bitcoin Runes and cross-chain NFT markets. According to Tiexo data, it has maintained the largest NFT market share over the past six months.
FAQs
1. How do I check if I’m eligible for the ME token airdrop?
Magic Eden will release an eligibility tool before the official launch. Users can verify their status there.
2. What happens to Magic Eden Diamonds rewards?
Conversion details for the Diamonds rewards program to ME tokens are yet to be announced.
3. Can I claim ME tokens without the Magic Eden Wallet?
No, the wallet app is mandatory for claiming tokens.
4. What’s the long-term utility of ME tokens?
Tokens will incentivize participation in ME Foundation protocols and affiliated platforms.
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