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A Beginner’s Guide to NFTs on Solana and Ordinals in Magic Eden

Welcome to the wild and wacky world of Magic Eden, the NFT marketplace that’s shaking things up in the crypto cosmos! In just two short years, this Solana ($SOL) sensation has become the go-to hub for all things non-fungible, and we’re here to spill the digital tea on what makes it so darn special.

What in the NFT Wonderland is Magic Eden?

Picture this: it’s September 2021, and Magic Eden bursts onto the scene like a supernova in the Solana blockchain galaxy. Originally just a cozy home for SOL-based NFTs, this marketplace quickly evolved into a digital circus of creativity.

With a trade volume soaring to $1.76 billion (yeah, billion with a ‘b’), Magic Eden is like the cool kid at the NFT party, flaunting low fees, a user-friendly vibe, and functionality that’ll make your grandma jealous.

Popularity Contest? We have a Winner!

Move over, Ethereum! Magic Eden is stealing the spotlight, accounting for over 90% of the market share in secondary Solana NFT sales. Boasting a trading volume that’s skyrocketed to $1.44 billion, Magic Eden is throwing punches at big players like Opensea. Talk about an underdog story!

In 2022, they started offering ordinal NFTs on Bitcoin as well. Quickly moving on the trend and taking the biggest market share.

Magic Eden 101: What’s the Deal?

Magic Eden isn’t just a marketplace; it’s a decentralized NFT extravaganza! Want to create, buy, sell, or trade NFTs? You’re in the right place. Originally Solana-centric, Magic Eden has opened its doors to Ethereum NFTs. It’s like the cool club where everyone’s invited.

How to Work Your Magic in Eden

Getting in on the fun is a breeze. Grab your Solana-compatible wallet (Trust Wallet or Phantom Wallet, anyone?), load it up with SOL, and you’re ready to roll. Click “connect wallet,” choose a collection, and voila – you’re in the NFT game!

For Ordinals, try Xverse wallet.

Wanna know the hottest collection? Okay Bears is the top dog, or should we say bear, in trading volume and floor price. Magic Eden lets you filter through collections like a pro, sorting bears by their caps, fur, and eyewear. Fashion-forward bears, who knew? Or if you want to dip your toes into Ordinals, have a look at the Bitcoin Frogs who recently started picking up volume, with a floor at 0.14 BTC.

Features That Make Magic Eden a Unicorn

1. Low Transaction Fees: Paying fees is so last season. this NFT marketplace charges a sleek 2% transaction fee, leaving competitors in the dust. No listing or offer fees – just creators setting their own royalties.

2. Easy-Peasy Design: The folks at Magic Eden are all about simplicity. From Launchpad pools to user feedback, they’ve got the user experience down to an art form.

3. NFT Extravaganza: The collection game is strong at Magic Eden. Popular Collections showcase the hottest buys, and the Launchpad keeps things fresh by weeding out the duplicates.

4. Eden Games: Ready to play? Magic Eden has unleashed over 35 games, and they’re not playing around. Everseed, DeFi Pirates, and Mini Royale: Nations are just a taste of the gaming buffet.

The Price is Right, Baby!

You know what’s better than free? The pricing:

  • NFTs listed for nada.
  • A cool 2% transaction fee.
  • Bidding? No extra charge.
  • Creators set their royalties.
  • Half the listed price for minimum offers.

Yugalabs and Magic Eden: A Match Made in NFT Heaven

Yuga Labs and Magic Eden are the ultimate power couple. With plans to launch an Ethereum NFT marketplace with enforced creator royalties, they’re rewriting the NFT love story.

More on this later when more details are available.

Wrapping Up the Magic Show

In the enchanting realm of Solana & Ordinals, Magic Eden is the rising star, dazzling us with its 2% transaction fee, quirky NFT collections, and gaming experience that’ll make you kiss your console goodbye. Ready to dive into the NFT wonderland? Magic Eden is waiting with open digital arms. So, grab your crypto wand and let the magic begin! 🚀✨

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You might also like our recent content about the new trend SocialFi and Real World Assets (RWA’s) on the blockchain.


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