Magic Eden (ME)
Magic Eden is a non-fungible token (NFT) marketplace built on the Solana Network, designed to facilitate the buying, selling, and creation of NFTs. By streamlining the minting process and reducing transaction fees, Magic Eden makes NFT projects accessible and affordable for everyone. Transactions on Magic Eden resemble those on Ethereum, with users benefiting from a 0% listing fee and a 2% transaction fee. The platform uses Solana (SOL) as its utility token, and users can easily purchase NFTs by linking a Solana-compatible wallet to Magic Eden.
How to buy NFTs in Magic Eden
Creating a wallet
| Ticker | ME |
| Category | NFT |
| Website | https://magiceden.io/ |
| @MeFndn | |
| Contract Addresses | |
|---|---|
| solana | ME...1u Copied! |
To start buying NFTs on Magic Eden, users need to create a wallet compatible with the Solana Network. Popular options include Phantom, Solflare, and Sollet. The setup process for Phantom is similar to that of MetaMask, a widely used cryptocurrency wallet. Users can install the Phantom browser extension and create a new wallet by following simple steps.
Buying SOL tokens
To purchase NFTs on Magic Eden, users must first acquire SOL tokens and transfer them to their wallets. Leading exchanges that support SOL include Binance, Coinbase, OKEx, FTX, and Huobi. Once SOL is in the wallet, users can connect to the Magic Eden homepage and start exploring NFT collections.
Exploring and buying NFTs
After connecting their wallet, users can search for specific NFTs or browse the latest and popular collections on the platform. To purchase an NFT, users can click "Buy now" or make an offer. Sellers may accept or reject offers, and Magic Eden doesn't charge cancellation or offer fees.
Mint NFTs by applying at Magic Eden Launchpad
Using the Magic Eden Launchpad
The Magic Eden Launchpad simplifies the process of generating and selling NFTs. Users need to fill out a form and provide necessary project details to apply. The platform evaluates applications based on criteria like project completeness and community focus. Once approved, creators can mint their NFT collections with ease.
Features for creators
Magic Eden supports creators with a clear roadmap and community-focused approach. It encourages creators to engage with the community and demonstrate commitment to their projects.
Magic Eden partnership with Raydium
Magic Eden's partnership with Raydium marks a significant step in the evolution of NFTs. This collaboration enables users to trade NFTs directly on the Raydium website and provides dual-listing opportunities for projects. Raydium's swaps are integrated into Magic Eden, allowing payments in any token. The partnership enhances NFT accessibility and liquidity within the Solana ecosystem.