Token

Eden

Magic Eden

<ul>
 <li>The new token is designed to make cross-chain trade easier on the platform.</li>
 <li>Magic Eden’s desktop and mobile wallets will be the first to provide the ME token.</li>
</ul>
<a href="https://thenewscrypto.com/magic-eden-surpasses-50-million-in-nft-sales-amidst-nft-renaissance/" target="_blank" rel="noopener noreferrer nofollow">Magic Eden</a> is planning to introduce and use a utility token called “ME” on its Non-Fungible Token (NFT) marketplace. Importantly, the firm said that the ME Foundation is working on the token’s development. The new token is designed to make cross-chain trade easier on the platform that is built on Solana.
The ME token, as previously mentioned, is an asset representing cross-chain trading protocols and a Web3.0 consumer dApp. An official announcement states that the token will serve as an incentive for users, allowing them to instantly exchange assets on the largest chains.
<h3 class="wp-block-heading" id="h-major-step-forward">Major Step Forward</h3>
Moreover, the group is banking on ME’s compatibility with other protocols and dApps being a breeze to integrate. Also, this integration is planned for everyone, even as <a href="https://thenewscrypto.com/cryptopunk-breaks-nft-record-with-24-million-sale/" target="_blank" rel="noopener noreferrer nofollow">NFTs</a> and Bitcoin-based Runes become better.
The time for single chain maximalism has passed, says Matt Szenics of the ME Foundation. More than $6 billion in trading volume has been recorded across several networks in Magic Eden, he said. When combined, these two metrics show that the NFT marketplace generates 60% of all income from NFTs and accounts for 80% of the number of trades in <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> Ordinals and Runes.
Magic Eden’s desktop and mobile wallets will be the first to provide the ME token once it becomes live. Its release would be a significant milestone in the NFT marketplace’s recent history of transformation.
Magic Eden launched a Bitcoin Runes platform in April, along with the release of their multi-chain self-custodial wallet, which supports <a href="http://ethereum.org" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, Solana, Polygon, and Bitcoin. Users were able to purchase Runes and Ordinals and send Bitcoin to their Magic Eden wallets using the platform.
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Solana-based NFT Marketplace Magic Eden to Launch ‘ME’ Utility Token

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