Token

Eden

Magic Eden

Magic Eden, the prominent cross-chain <a href="https://www.turkishnyradio.com/nft-marketplace-development-tips-and-strategies-2023/">NFT marketplace</a>, is launching its TestME token as part of a broader technical trial. The marketplace has urged users to claim TestME but warned against speculation or trading. As a limited-access trial release, the token intends to prepare Magic Eden Wallet users for interactions with an upcoming Magic Eden governance token. 
<img loading="lazy" decoding="async" class="size-full wp-image-24972 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/22ccc.jpg" alt="22ccc" width="728" height="90" title="Claim TestME Token on Magic Eden – But Don’t Trade It, Platform Warns 54"> 
<h2 id="b-magic-eden-launches-testme-token-for-wallet-trial-b">Magic Eden Launches TestME Token for Wallet Trial</h2> 
The live TestME token will be a test and will not be available for trading or market speculation. As Magic Eden, we look forward to testing the reliability of our wallet infrastructure with the TestME release and eventually integrating the governance token into it. While the NFT marketplace urges users to claim TestME, the token will hold no financial incentives or future benefits. 
<img loading="lazy" decoding="async" class="wp-image-26175 size-full aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Screenshot-75.png" alt="Screenshot 75" width="1033" height="588" title="Claim TestME Token on Magic Eden – But Don’t Trade It, Platform Warns 55" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Screenshot-75.png 1033w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/Screenshot-75-768x437.png 768w" sizes="(max-width: 1033px) 100vw, 1033px"> 
And for users who haven’t interacted with Magic Eden’s platform in the last 6 months, including U.K. or U.S. <a href="https://help.magiceden.io/en/articles/10032883-testme-token-claim-frequently-asked-questions#h_202dc95431" rel="nofollow noopener" target="_blank">residents</a>, the TestME token will not be available to them. The token release, designed to ensure users are comfortable with the token claiming process, has the token claimed through Magic Eden’s wallet within two days and is available for participants to claim the token. Magic Eden plans to identify potential technical challenges and improve the experience for users with this short claiming period. 
&nbsp; 
Magic Eden has been working towards releasing ME, the platform’s official governance token, to offer Magic Eden users active participation in the platform’s development and decision-making process. The governance token was initially proposed to be an NFT but was then renamed ME to match the Magic Eden name while Magic Eden expanded to fungible token support. TestME token is a functional test and will not be a governance asset but an operational step toward the ultimate ME release. 
<h2 id="b-testme-token-marks-step-toward-governance-goals-b">TestME Token Marks Step Toward Governance Goals</h2> 
While Magic Eden says TestME is just a test, it does expect to see some trading interest akin to other test token releases on the crypto market in the past. For example, just last month, Jupiter launched their test token, MockJUP, which was used speculatively even though it had no long-term support or intrinsic value. These previous incidents echo, but in many ways, Magic Eden is being proactive in taking a stance to preclude further similar speculative activities. 
<img loading="lazy" decoding="async" class="size-full wp-image-26179 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Screenshot-76.png" alt="Screenshot 76" width="1028" height="586" title="Claim TestME Token on Magic Eden – But Don’t Trade It, Platform Warns 56" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Screenshot-76.png 1028w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/Screenshot-76-768x438.png 768w" sizes="(max-width: 1028px) 100vw, 1028px"> 
Solana remains at its core, but Magic Eden has only recently expanded into a cross-chain marketplace with support across blockchains like Bitcoin and Ethereum. Magic Eden is looking at building its anticipation around the governance token to help firmly capture user loyalty while rewarding users based on user engagement in its offerings. The company sees the TestME token as a technical milestone that brings the platform one step closer to creating a comprehensive governance framework. 
Although we will have more to share about the governance token in the months ahead, we will be transparent with our users and keep them engaged as we expand the cross-chain, cross-instance marketplace. 
Stay connected with<a href="https://www.turkishnyradio.com/"> TurkishNY Radio</a> by following us on<a href="https://x.com/TNYR_News" rel="nofollow" target="_blank"> Twitter</a> and<a href="https://www.linkedin.com/company/turkishny-radio/" rel="nofollow noopener" target="_blank"> LinkedIn</a>, and join our<a href="https://t.me/tnyr_news" rel="nofollow" target="_blank"> Telegram</a> channel for more news. 
&nbsp;

Claim TestME Token on Magic Eden – But Don’t Trade It, Platform Warns

Table of Contents

TNYR

Other articles published on Oct 29, 2024

SKALE Labs and Deadfellaz Partner to Launch Genre Defying Digital TCG ‘Death Touch’

Shiba Inu (SHIB) Eyes 50% Rally, Insights from On-Chain Data

Bitcoin Crosses $71,000: A New Momentum Towards New Heights?

Consensys to cut workforce by 20% — CEO outlines decentralization plans

Ripple co-founder says Kamala Harris will take a ‘completely different approach’ to Biden’s war o...

The Smart Investor’s Guide: 5 Undervalued Cryptos with 10x Potential Next Month

Join our free newsletter for daily crypto updates!