What Is Magic Eden (ME)?
Magic Eden (ME) is a leading platform in the non-fungible token (NFT) ecosystem, originally launched as Solana's largest NFT marketplace. Known for its rapid transaction speeds and low fees, the platform has expanded to support NFTs on Ethereum, Polygon, and Bitcoin blockchains.
Magic Eden (ME) enables users to trade digital collectibles and launch their own NFT projects. Whether you're an artist creating NFTs, a collector seeking rare digital assets, or an investor exploring opportunities, Magic Eden (ME) offers an intuitive platform to engage with this evolving digital culture.
With over 22 million monthly visitors, 8,000+ collections, and $1.9 billion in secondary market trading volume, Magic Eden (ME) solidifies its position as a hub for digital ownership and expression.
Who Created Magic Eden (ME)?
Magic Eden (ME) was founded in September 2021 by four visionaries:
- Sidney Zhang
- Jack Lu
- Zhuoxun Yin
- Zhoujie Zhou
This team combined their expertise in cryptocurrency, technology, and consulting to innovate within the NFT space.
Which Venture Capital Firms Support Magic Eden (ME)?
Magic Eden (ME) is backed by top-tier Web3 investors including:
- Paradigm
- Sequoia Capital
- Electric Capital
- Coinbase Ventures
- Solana Ventures
- Variant Fund
- Greylock Partners
- Lightspeed Ventures
How Does Magic Eden (ME) Work?
1. Buying & Selling NFTs
The platform's clean interface allows users to:
- Browse collections
- Filter NFTs by attributes
- Execute fast, low-cost transactions (especially on Solana)
2. Minting New NFTs
The exclusive Launchpad feature helps creators mint and launch NFT projects. Only 5% of applications are approved, ensuring high-quality listings and better exposure for selected artists.
3. Secondary Marketplace
Dominating 90% of Solana's secondary NFT trades, Magic Eden (ME) offers:
- Trending collection pages
- Advanced attribute filters
- Tools for discovering valuable assets
4. Multi-Chain Support
Initially Solana-focused, Magic Eden (ME) now supports:
- Ethereum NFTs
- Polygon NFTs
- Bitcoin Ordinals
5. Flexible Royalties System
Creators earn a percentage from secondary sales, ensuring fair compensation throughout an NFT's lifecycle.
6. Low Fees
A flat 2% platform fee + minimal Solana gas fees make Magic Eden (ME) a cost-effective choice.
Why Magic Eden (ME) Stands Out
Magic Eden (ME) combines:
✅ User-friendly design
✅ Multi-chain accessibility
✅ Rigorous quality standards
✅ Strong venture backing
As the NFT landscape evolves, Magic Eden (ME) remains at the industry's forefront through continuous innovation.
👉 Discover Magic Eden's NFT Marketplace
FAQs
Q1: What blockchains does Magic Eden support?
A: Solana, Ethereum, Polygon, and Bitcoin (including Ordinals).
Q2: How much are Magic Eden's fees?
A: 2% platform fee + blockchain network costs (e.g., Solana's negligible gas fees).
Q3: Can anyone mint NFTs on Magic Eden?
A: Only 5% of Launchpad applicants are approved to maintain quality standards.
Q4: Is Magic Eden the largest Solana NFT marketplace?
A: Yes, it handles over 90% of Solana's secondary NFT trades.
Q5: Which wallets work with Magic Eden?
A: Phantom (Solana), MetaMask (Ethereum/Polygon), and Bitcoin-compatible wallets.