Aneeca YounasMagic Eden is a decentralized application (dApp) built on the Solana blockchain. It allows users to create and manage non-fungible tokens (NFTs) on the blockchain. These NFTs can be used for a variety of purposes, including digital collectibles, gaming assets, and more.
Magic Eden has the following desirable features:
- Launchpad: This feature is unique to Magic Eden and allows users to create NFTs in minutes, without the need for extensive NFT knowledge or development experience. Currently, the platform is only accepting a limited number of projects; however, this is likely to change in the future.
- Upcoming Launches: Rather than tediously searching for the next NFT drop from your favorite creator, Magic Eden gives a curated list of upcoming launches so you can be in the know.
- Popular Collections: To make sure you are up-to-date on NFT projects that are hot right now, Popular Collections shows the latest and most popular NFT projects on the Solana blockchain. It makes it easy for you to browse, learn about and invest in the latest projects.
The Low-down
What Is The Software? Magic Eden
How much does it cost? 2% of all transactions
Cons
Would We Recommend It? Magic Eden is an excellent NFT buying and selling platform for both amateurs and novices alike. While there are still some features to be added, we see this platform as a great way to view and learn about different projects, and to invest in the ones that hold appeal to the user.
How does Magic Eden Score?
| Category | Our score |
| Features | ⭐⭐⭐⭐ |
| User Experience | ⭐⭐⭐⭐ |
| Customer Service | ⭐⭐⭐⭐ |
| Pricing | ⭐⭐⭐⭐ |
| Overall | ⭐⭐⭐⭐ |
What Is Magic Eden?
Solana released Magic Eden in early 2019 as a decentralized application (dApp) platform built on top of the SOL network. Like OpenSea, Magic Eden allows users to create and manage their own NFTs. These tokens can represent anything from digital artwork to gaming items.
Magic Eden Summary
With the recent rise in popularity and innovation, new developments in blockchain technology have led to an explosion in software use cases. One such example is Magic Eden, whose goal is to make it easy to purchase or mint NFTs on their platform. These NFTs are later used within Solana’s networked applications (that are built specifically around digital asset ownership).
Magic Eden offers its users a wide range of features, such as:
- Upcoming Launches
- Popular Collections
- Launchpad
- Attributes Filter
- Stats
- Auction
- Community
Magic Eden features ⭐⭐⭐⭐
Upcoming Launches
This feature shows upcoming NFT launches in the coming weeks, so one can easily predict when their favorite launch is around the corner. This erases the need to tediously search for the next big release. Just click on any project, and it will send you straight to its Twitter account.
Popular Collections
Popular collections show what’s hot right now and the projects that are receiving a lot of buzz. If you’re looking to cash in on a crypto fad, this is your place. It’s an easy way to see who’s getting all the hype and what digital assets are sure to be popular.
One of the best additions to Magic Eden is the STEPN app Sneaker NFTs, which are used to participate in a move to earn running platform.
Launchpad
This feature sets Magic Eden apart from any other NFT platform. The new Launchpad from Magic Eden is a revolutionary way to create and sell your non-fungible tokens. This straightforward technical process will make minting seamless and secure, with full-service support available worldwide.
It has an automatic distribution system on its platform which means there’s no need for any technical work – just upload your files, or create them in advance, and you’re good to go. Launchpad takes care of everything else automatically so that you have time to focus on what matters most: your creativity.
Attributes Filter
Unlike any other platform, this new filtering system makes it easier for you to choose the NFT that suits your taste. Magic Eden’s attributes filter gives you the power to use a wide range of discriminators to help you find the exact NFTs you’re looking for, from the background, clothes, earrings, eyes, and many more.
Stats
The total supply, category, and overall value of your digital asset is instantly available on Magic Eden. This helps to gauge which NFTs are more valuable and at what quantity they’re worthwhile, providing a nice overview of all your current assets in their network.
It shows volume percentage and floor price, making it easier for you to determine which assets are more popular versus those that aren’t. It’s like a stock market overview of digital assets within the platform.
Auction
This is a great feature that allows customers to get their preferred NFT right away without waiting for the seller to lower the price. On top of that, it also provides users with minimal sell fees as well as commission bonuses for those who participate in auctions regularly and successfully bid on many types of items.
Community
The platform takes into account community feedback and suggestions, which means it’s constantly improving thanks to its users. The more people use it and give their input, the better Magic Eden becomes, along with all the other features and services integrated within this new marketplace.
It’s truly active participation at its finest; one that’s necessary for any thriving ecosystem. You can join their Discord here.
Magic Eden User Experience⭐⭐⭐⭐
Magic Eden’s user interface and overall user experience are both extremely fluid, making it significantly easier to navigate. It’s one of the most user-friendly decentralized applications out there. There are multiple ways to sort their search system, including an attributes filter that lets you find exactly what you’re looking for with just a few clicks of the mouse.
As far as the overall design goes, it’s not overcrowded or too simplistic; everything has its place and works in unison so that everyone can have an enjoyable time using the platform.
Magic Eden is now available on Android, and the app is very seamless and user-friendly. Efficiency is at the core of its design, making it quick and easy for everyone to use – even those who are less tech-savvy.
Magic Eden Customer Service ⭐⭐⭐⭐
FAQs are readily available on the Magic Eden platform, and they answer any question or query as soon as possible. Their platform chat support is run via Intercom and available 24/7.
Their Discord is also available for those who want to discuss ideas, suggestions, bugs and anything related to the application. Since it’s an open community where anyone can join, this helps welcome new users and introduce them to the NFT space.
Magic Eden Pricing ⭐⭐⭐⭐
As mentioned earlier, Magic Eden’s costs of transaction fees are minuscule compared to others in the same niche. You just need a Solana compatible wallet, such as Phantom, to buy or sell NFTs in Magic Eden. Here are the fees listed in their platform:
- $0 Listing Fee
- 2% Transaction Fees
- Royalty % differs per creator
- $0 Offers Fee
- Minimum offer price is 50% of the listing price
Who Should Use Magic Eden?
Both collectors and creators are going to love this platform, since it’s a marketplace made to benefit both parties. It doesn’t matter if you want multiple assets or simply to sell one item – Magic Eden is the perfect place for anyone looking to make deals within their community.
However, digital asset creators should definitely take advantage of this platform because of its Launchpad. Aside from its easy integration, it has its own custom minting authority, which makes it a lot simpler for item creators to mint their very own NFTs.
Plus, there’s no need to set up your own infrastructure – everything is done within the platform, from creating the design to sharing it with others. Non-technical people can get started quickly and with ease.
The Wrap-Up
What Is The Software? Magic Eden
How much does it cost? 2% of all transactions
- User-friendly and intuitive design
- Launchpad makes NFT listing accessible for both amateur and novice creators
- Creators have the power and control over their work
- Low fees—only 2% on each transaction
- The open platform means that plagiarism, and copying occur frequently
- There is currently no wallet integration, so personal collections cannot be viewed through the app
Would We Recommend It? We recommend Magic Eden for anyone wanting to get into NFT trading, whether you are experienced with NFTs or just starting out. Keep an eye out for new features and updates, as more are likely to be added in the near future with continued growth.
Frequently Asked Questions about Magic Eden
What is the Magic Eden platform?
How do you buy NFTs in Magic Eden?
What should creators expect if they are approved in Launchpad?
How does the Magic Eden platform work?
How do you list on Magic Eden?
Does Magic Eden allow for the minting of NFTs?
Does it cost to list on Magic Eden?
How can I sell an NFT on Magic Eden?
This article was written for Business 2 Community by Aneeca Younas.
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