The ME Foundation has officially announced that its highly anticipated ME token will launch on December 10, providing a major opportunity for users of Magic Eden, a leading NFT and Bitcoin exchange platform.
The Solana-powered ME token, deeply integrated into Magic Eden’s ecosystem, is set to reward loyal users through an upcoming airdrop. Eligible users can claim their tokens exclusively via the Magic Eden Wallet app. Pre-market trading hints at a valuation exceeding $500 million, with Whales Market pricing the token at $4.50 and Coinbase’s pre-market platform listing it at $3.41.
The airdrop will unlock 12.5% of the total 1 billion ME token supply—equivalent to 125 million tokens—for immediate claiming. Additionally, 22.5% (225 million tokens) will be reserved to incentivize future activity on ME Foundation protocols.
User eligibility for the airdrop will be determined by “organic” trading activity, cross-chain usage, and loyalty to Magic Eden’s platforms. The specifics of converting Magic Eden Diamonds, the platform’s current rewards program, into ME tokens have not yet been disclosed. However, a tool to check eligibility will be released ahead of the claim date.
Magic Eden, initially a Solana NFT marketplace, has expanded its dominance to become the leading exchange for Bitcoin Runes and NFTs. It also maintains the highest market share among NFT marketplaces over the past six months, according to Tiexo data.
The ME token’s launch marks a significant milestone for Magic Eden, reinforcing its position in the NFT and crypto ecosystem. As traders eagerly await the claim date, the airdrop has the potential to solidify user loyalty and drive broader adoption of Magic Eden’s platforms.