TechFlow news — On August 22, according to official announcements, the Magic Eden Foundation revealed the launch of a new token named ME, replacing the previously planned "NFT" token, aiming to build a leading cross-chain dApp ecosystem. The ME token will initially be adopted by Magic Eden, currently the largest Bitcoin dApp, NFT platform, and decentralized exchange for Runes. Users can claim ME tokens via the Magic Eden Wallet on iOS and Android, with future token incentives also integrated into this wallet.
The introduction of the ME token aims to realize the vision of enabling users to trade both fungible and non-fungible tokens anytime on any major blockchain. Magic Eden stated that while users have already adapted to cross-chain and mobile operations, most dApps have yet to catch up. They emphasized that dApps are key to user onboarding, rather than relying solely on infrastructure.
According to Decrypt, although the specific release date and distribution method for ME have not yet been finalized, allocations may include airdrops to Magic Eden traders who qualified for Diamond rewards. Matt Szenics, director of the ME Foundation, said the rebranding reflects the expanded scope of Magic Eden's business beyond just an NFT marketplace. The ME Foundation will oversee the issuance and distribution of the ME token, drive its growth and adoption across the crypto space, and ultimately govern a DAO managed by token holders.
