What is Magic Eden?
Magic Eden was created in early 2019 by co-founders Zhuoxun Yin and Jack Lu as a decentralized application (DApp) NFT exchange based on the Solana blockchain, using Solana's rapid transaction speeds and low costs. Coinbase Ventures, Solana Ventures, and Alameda Ventures are among Magic Eden's supporters, with Sequoia Capital also investing in the project, giving them a strong financial foundation on which to build.
Users can buy, sell, and mint NFTs, which can represent anything from digital artwork to game stuff, on Magic Eden. Magic Eden has experienced a continuous influx of new and returning users since its introduction in 2019, with daily wallet connections frequently exceeding 200,000 and close to $1 billion worth of transactions taking place each month.
Magic Eden's NFT transactions are identical to those on Ethereum-based marketplaces like OpenSea, with the addition that Magic Eden takes advantage of the Solana blockchain's low costs to offer users a package that includes a 0% listing charge and only 2% transaction fees. Low operational costs lower the barrier to entry for new and experienced NFT buyers and makers, while the project's Launchpad function guarantees that low-quality content does not overwhelm the platform.
The feature upcoming launches displays anticipated NFT launches in the next weeks, allowing users to quickly anticipate when their favorite launch will occur. This eliminates the need to waste time looking for the next big thing. Simply click on any project to be taken directly to its Twitter account.
Furthermore, Magic Eden’s Popular collections indicate what's trending right now and which projects are getting a lot of attention. If you want to cash in on a crypto craze, this is the place to be. It's a simple approach to assess who's getting the most attention and whose digital items are bound to be popular. This feature also distinguishes Magic Eden from other NFT platforms.
Magic Eden's new Launchpad is an innovative way to manufacture and sell non-fungible tokens. With full-service support available worldwide, this simple technical approach will make minting seamless and secure.
The platform features an automatic distribution mechanism, so you don't have to do any technical labor - simply upload your files, or generate them ahead of time, and you're ready to go. Launchpad handles everything else for you, leaving you free to focus on what matters most.
