Magic Eden, one of the top NFT marketplaces, is about to make a major move that’s already creating a buzz. On December 10, the platform will launch its highly anticipated Solana-based ME token, with an exciting airdrop set to reward loyal users of its Bitcoin exchange and cross-chain NFT marketplace.
What does this mean for users and the marketplace itself? Keep reading to find out.
The ME token airdrop has become a hot topic, sparking widespread discussions within the NFT community. With the pre-market price in mind, the airdrop could be valued at an impressive $562 million, making it a major event for those involved in the space.
To make the process transparent, the ME Foundation will soon release a tool for users to check if they’re eligible for the airdrop before the token’s official launch. Eligibility will primarily be based on factors like organic trading activity, cross-chain trading, user loyalty, and past platform usage.
What to Expect on Launch Day
On launch day, around 125 million ME tokens, or 12.5% of the total supply, will be unlocked for eligible users. In addition, over 225 million tokens (more than 22.5% of the total supply) will be released to encourage future use of the platform.
In pre-market trading, the ME token has already seen promising values. On Whales Market, the price reached $4.50, while Coinbase’s pre-market price is slightly lower at $3.41. These numbers reflect strong anticipation for the token’s launch.
Magic Eden has expanded far beyond its origins as a Solana NFT marketplace. Over the past six months, it has held the top market share among NFT marketplaces. It has also become a major player in Bitcoin Runes and NFT exchanges, further establishing its leadership in the market.
With the airdrop and new features on the horizon, Magic Eden is setting the stage for a bright future.
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