Magic Eden Launches ME Token

The Solana-based NFT marketplace Magic Eden has launched its ecosystem token ME.

Users can claim ME tokens by linking their cross-chain wallet to the ME Foundation website and completing the claim process on the Magic Eden mobile app. They can then stake their ME tokens to participate in cross-chain challenges called Magic Eden Quests and future airdrop opportunities.

February 1 is the last day to claim ME; unclaimed tokens will go to stakers, as Magic Eden announced on social media platform X on Tuesday.

Tiff Huang, director of the ME Foundation, stated in an email to The Block, "The thesis behind ME is that onchain apps are going to win in the long run. It's the purest, most seamless way to use the blockchain."

Magic Eden announced the adoption of its ecosystem token ME in August. The platform released a test token, TestME, to preview the airdrop claim's overall flow ahead of the official launch on October 30. Shortly after its launch, the token accrued a $6 million market capitalization, indicating high user interest in the actual token, as previously reported by The Block.