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Magic Eden revealed the $ME token as its official ecosystem token on August 22.
As per a press release from the ME Foundation, $ME will be incorporated into Magic Eden’s wallet, allowing users to manage and trade digital assets across various blockchain networks.
$ME Token for Application Across Blockchains
Initially launched as a Solana-based non-fungible token (NFT) platform, Magic Eden has broadened its reach to encompass multiple blockchain networks, including Bitcoin, Ethereum, and Polygon.
The announcement indicated that the integration of $ME into their wallet is part of a larger strategy aimed at supporting a diverse array of digital assets, enabling users to interact with different blockchains more efficiently.
“People should be able to trade fungibles & NFTs on any major chain any time, all in 1 place,” the ME Foundation tweeted. “Initially, $ME will be adopted by @MagicEden, the largest BTC dApp, NFT platform, and Runes DEX,” a post on social media states.
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Announcing $ME, powering the #1 cross chain dApps ecosystem
People should be able to trade fungibles & NFTs on any major chain any time, all in 1 place. Initially, $ME will be adopted by @MagicEden, the largest BTC dApp, NFT platform, and Runes DEX.
The $ME claim will be in… pic.twitter.com/XFxACAeRyW— $ME (@MeFndn) August 22, 2024
“I’m enthusiastic about $ME for two reasons. First, this token will resonate with crypto retail users as it embodies the potential of consumer dApps designed for them,” stated ME Foundation Director Matt Szenics.
The token is anticipated to play a vital role in the platform’s ongoing growth, especially as it investigates mobile-first solutions and expands its blockchain support.
“That’s why $ME will be introduced to the market through a mobile-first experience,” Szenics noted. “Secondly, $ME is intended for everyone across all major chains. The era of single-chain maximalism is over.”
Magic Eden and D3 Bid for .magic Domain
In July, Magic Eden and D3 announced their intention to collaborate in bidding for the .magic top-level domain (TLD) from the Internet Corporation for Assigned Names and Numbers (ICANN).
Following ICANN’s approval, the D3 network would allow users to utilize .magic domains across both traditional internet and web3 platforms. This will enable a single .magic domain to serve as a website and email address, as well as for applications like digital wallets and verified credentials.
The post Magic Eden Adopts $ME as Official Token for Cross-Chain Trading appeared first on Cryptonews.
