ME Foundation has announced the launch of its new $ME token, designed to support cross-chain protocols for digital asset trading. The token will be adopted by Magic Eden, the leading Bitcoin decentralized application (dApp) and NFT platform, as its ecosystem token.
Launch of $ME Token
The move positions $ME as a key player in the evolving digital ownership landscape, with the potential to drive significant shifts in on-chain behavior. Magic Eden, originally launched as a Solana NFT platform, has quickly established itself as a major force in the digital asset space.
Scale of Magic Eden
The platform has surpassed $6 billion in total trading volume, dominating both the NFT market, with over 60% of all NFT revenue, and the Bitcoin market, handling more than 80% of Ordinals and Runes trade volume. Runes, now the most popular Bitcoin fungible standard, accounts for over 60% of all Bitcoin transactions.
Future Plans
The integration of $ME into Magic Eden’s ecosystem is expected to enhance user engagement, particularly as the platform expands its mobile capabilities through the Magic Eden Wallet. The wallet, which already enjoys over 250,000 monthly active users, offers features like native cross-chain swaps and digital asset management. Users will benefit from $ME rewards, incentivizing them to engage with the platform and use the open-source protocols adopted by ME Foundation. According to ME Foundation Director Matt Szenics, $ME represents the future of consumer dApps across all major chains. He emphasized the token’s potential to resonate with crypto retail users and its importance in a mobile-first experience. The token will be exclusively claimable through the Magic Eden Wallet, though it will not be available in certain jurisdictions, including the United States.
ME Foundation expects the launch of $ME to drive major shifts in how users interact with digital assets, particularly in mobile-native environments. The token’s integration with Magic Eden’s expanding platform underscores its potential to become a central component of the digital ownership ecosystem.
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