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Magic Eden is a California-based company that has developed a multi-chain non-fungible token (NFT) platform of the same name. The company was founded in 2021, and the platform was launched in September of that same year. It was founded by professionals with backgrounds in decentralized finance, cryptocurrency, and management consulting.
The Magic Eden platform is available on the Solana, Ethereum, and Polygon blockchains. It has several features, including a decentralized NFT marketplace and launch pad. The platform is available for download on both Android and iOS. To use the platform, users must first make an account by connecting their digital wallet, such as Phantom.
Setting up an account on Magic Eden
The Magic Eden marketplace is for buying, selling, and minting NFTs. It can be used for launching new NFTs and as a secondary marketplace. Those looking to buy NFTs can make an offer using the platform or simply buy them outright by paying the price stated on the platform. Buyers can view some of the most popular NFTs and can also search for NFTs according to specific attributes for each collection. Popular NFT collections have included Okay Bears, DeGods, and Genesis Genopets.
There is zero listing fee on the marketplace and a 2% transaction fee for each transaction. There are no fees for making bids.
Magic Eden's feature called Launchpad acts as a minting platform and vetting program. It is for NFT creators, and it only accepts 3% of applicants' projects. The launchpad feature gives creators exposure to buyers on the marketplace.
Eden Games is an associated platform of Magic Eden that went live on March 14th, 2022. Connected users can access dozens of blockchain games, including popular ones such as Mini Royale, Panzerdogs, and Remnants.
