What is Magic Eden? Magic Eden is an NFT Marketplace platform that facilitates the buying, selling and minting of NFTs. Let’s find out what is special about this project with Weakhand in this article.
What is Magic Eden?
Overview of Magic Eden
Magic Eden is the foundation NFT Marketplace Allows users to trade Peer to Peer NFTs with ease. Magic Eden launched in September 2021 on the Solana network. Later, Magic Eden was deployed on many other chains such as: Ethereum, Polygon and most recently deployed on the Bitcoin network.
Magic Eden offers a variety of NFTs on the Solana, Ethereum, Polygon chains,… including: Degods, Solana Monkey Business, CryptoPunks,… With 0% listing fees and 2% transaction fees, this reduces barriers Participation barriers for users participating in NFT transactions. The SOL token is the means of paying fees.
What is the difference of Magic Eden?
Products on Magic Eden:
Auction: The auction feature is designed for buyers and sellers to rally around a mutually acceptable price for the NFT.
Launchpad: Magic Eden is where projects can mint NFTs. Magic Eden provides extensive support to creators listed on Launchpad which greatly increases the visibility of their collections. However, Launchpad’s selection process is rigorous as Magic Eden only lists projects deemed to be of high quality.
Whitelisting: Allows users to whitelist upcoming projects and can be approved to become mint NFT participants of the project.
Gaming: Magic Eden Games was launched in March 2022 allowing users to trade NFTs in popular game projects such as: The Sandbox, Genopets, Aurory,…
MagicDAO: Magic Eden uses “Magic tickets” to represent shares in the Magic Eden DAO named MagicDAO. Users who own Magic tickets can vote regularly in regards to project management. MagicDAO members also receive benefits such as: automatic whitelisting and access to many widgets.
Core Team
Jack Lu : Co Founder & CEO
- He graduated with a double degree in commerce & law from Monash University.
- He has worked at Boston Consulting Group as a Consultant since 2015.
- In 2018, he moved to be a Product Manager at Google.
- After that, he quit his job and joined Magic Eden as CEO from October 2021.
Sidney Zhang : Co Founder & CTO
- He graduated from Georgia Institute of Technology.
- He has worked at Uber as a Software Engineer since September 2015.
- He also worked briefly at Facebook before moving to Magic Eden as CTO from September 2021.
Zhuoxun Yin : Co Founder & COO
- He graduated with a degree in financial economics from the University of Queensland.
- He has worked at Bain & Company as a Senior Associate Consultant since January 2013.
- He moved to work at Nimble Pharmacy in the role of Strategy and Operations from January 2016.
- In March 2018, he joined Dydx as Head Of Strategy & Business Operations.
- After that, he moved to work at Coinbase as Product Manager from July 2020.
- He quit his job and joined Magic Eden as COO from October 2021.
Meisam Vosoughpour : Head of Product
- He graduated with a bachelor’s degree in computer software science and engineering from Tehran University.
- He has worked at Facebook as a Software Engineer since October 2012.
- He moved to work at Uber as a Software Engineer in February 2016.
- After that, he quit his job and moved to CoralCube as CEO from May 2022.
- After that, Magic Eden was acquired by CoralCube. Currently, he works at Magic Eden as Head of Product.
Investor
October 1, 2021: Magic Eden announced its successful call for $2.5M
January 1, 2022: Magic Eden announced its successful $10M fundraising led by Alameda Research.
March 14, 2022: Magic Eden announced its successful $27M fundraising led by Paradigm.
June 21, 2022: Magic Eden announced a successful $130M fundraising led by Electric Capital and Greylock Partners, bringing the total company valuation to $1.6B.
Tokenomics
Update…
Information Channel of Magic Eden Project
- Website: https://magiceden.io/
- Twitter: https://twitter.com/MagicEden
- Discord: