The ME Foundation, which supports the NFT Marketplace Magic Eden, has announced the tokenomics of the ecosystem’s native token, $ME, with 12.5% allocated for community rewards. With a pre-market price of $2.50 per token and 125 million tokens allocated for the airdrop, the rewards distribution is expected to be at least $300 million.
Magic Eden is a decentralized NFT marketplace on Solana, now claiming to be a multi-chain, multi-asset on-chain trading platform. Recently, they introduced a decentralized exchange (DEX) for Bitcoin-based runes, which are created as meme coins. With 80% volume share for Ordinals and Runes on the DEX, 60% revenue shares on the NFT platform, and 29% user shares on the NFT platform, Magic Eden aims to become the entrypoint for all crypto users to trade all assets on all chains in their one platform.
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