Magic Eden is an emerging NFT marketplace where all Solana NFTs are minted. According to CoinMarketCap, the platform ranks no. 2 in terms of its 30-day trading volume, making it the second most popular NFT marketplace in the world. Here’s everything you need to know about the Magic Eden NFT marketplace.
NFTs or non-fungible tokens have now become a million-dollar industry. Almost every digital artist, illustrator, and content creator is looking for ways to break into the industry to showcase their talent and build their careers.
During this time, many blockchain networks are giving platforms to empower creators and their digital collectibles. Among those, Solana’s NFT marketplace stands out as the leading trading platform.
Solana is a high-performance blockchain that provides scalability and user-friendly apps for the world. It is built to empower creators and developers in the Web3 space through various tools and services.
Solana is one of the fastest-growing ecosystems in crypto with a wide range of projects in DeFi, Web3, and more. Its NFT marketplace ranks top among various marketplaces around the world.
Magic Eden NFT Marketplace: The New NFT world
Magic Eden is a Solana-based decentralized NFT marketplace that allows users to buy, sell, or trade NFTs. It is a platform where people can collect digital collectibles and gaming assets from a wide range of NFT creators.
Magic Eden is Solana’s leading NFT trading platform with over 90% market share on secondary sales. It features exclusive NFTs from well-known creators and supports new and emerging creators as well.
Based on DappRadar data, Magic Eden has recorded over $214 million in trading volume in the last 30 days with over 250,000 users. The all-time trading volume is over $1.44 billion at the time of writing.
Within a year of its launch, Magic Eden has become a rivaling NFT marketplace against OpenSea. In fact, many sources report that Magic Eden recorded better trading volume compared to OpenSea during the crypto winter.
Magic Eden’s Founders and Team
The success of the Magic Eden NFT marketplace comes from its perfect team. The marketplace was founded by CTO Sidney Zhang, CEO Jack Lu, COO Zhuoxun Yin, and Chief Engineer Zhuojie Zhou in 2021.
The founding team comprises some of the best professionals who have worked with big companies like Uber, Facebook, Google, FTX, and Coinbase. Their background experience and extensive knowledge in Web3 and NFTs give them an upper hand in managing Eden Magic as an NFT marketplace.
When asked about the secret to the success of Eden Magic, Tiffany Huang, Magic Eden’s Head of Marketing and Content said, “I think the success is really due to the chemistry of the team. We’re nobodies. Like none of us is famous. We’re a bunch of 30, 31-year-olds. And it’s very egalitarian.”
Magic Eden: Features & Tools
Magic Eden NFT marketplace is built with the aim to facilitate users in buying their favorite or valuable NFTs without any complications. The trading platform offers various features and tools that users can use to navigate through the NFT collections.
There are mainly four sections within the website: New collections, Popular collections, Drop calendar, and Auctions. In New collections, you can view all the latest NFT drops that went live for sale. In Popular collections, you can see the top-ranking NFT collection based on their trading volume, you can arrange the popularity view by clicking on 24h, 7D, or 30-days.
Other features include filtering attributes; you can search for NFTs based on certain attributes like mouth, face, eyes, background, clothes, etc., or you filter out based on prices and status.
Furthermore, within each collection, there are separate tabs, Items, Auctions, Activity, and Analytics which can help you understand how popular or active the NFT collection is on the platform.
Eden Magic Launchpad
For NFT artists and creators, Solana has introduced the Eden Magic Launchpad on the NFT marketplace. It is an exclusive minting launchpad that facilitates creators to mint their NFTs safely on the platform.
The launchpad is designed with an automatic distribution system that ensures a creator’s artwork is rightfully displayed on the NFT marketplace. This takes away creators’ worries about distribution and marketing due to the built-in support that no marketplace has ever offered.
Top 3 NFT collections on Eden Magic
Eden Magic NFT marketplace is well-known for featuring some of the exclusive Solana NFTs that are worth thousands of dollars. Some of the best NFT collections available on the platform are as follows:
1: Tripping Ape Tribe
Tripping Ape Tribe is a Solana-based NFT collection of 10,000 Apes originally designed as PFP avatars. It is a community-based project backed by storytelling and long-term utility.
Currently, Tripping Ape Tribe is sold at a floor price of $17.50 SOL (529 USD) with a total trading volume of $458k SOL (13,892,952 USD). Based on a 30-day volume, Tripping Ape Tribe ranks no. 1 among Magic Eden’s popular collections.
2: Okay Bears
A name well-known to all, Okay Bears is the first-ever Solana NFT project that made history with its high all-time trading volume. It is an NFT collection of 10,000 bears, each having uniquely distributed traits. “Okay Bears is a culture shift.”
As of now, the floor price of Okay Bears is 94 SOL ($2,845) with an all-time trading volume of 1M SOL, which is around $54M.
3: Just Ape
Just Ape is an NFT collection of 10,000 apes with distinctive features which follows the tagline “Back to basics.” Just ape is designed to build a community of leading developers, creators, and contributors to the Web3 industry.
Just Ape is currently at a floor price of 6.10 SOL (184 USD) with a 161,732.65 SOL (4.8M USD) trading volume.
How to buy Solana NFTs on Magic Eden?
Now that you know everything about the Magic Eden NFT marketplace, you might be interested in buying some Solana NFTs through the platform. Compared to OpenSea, Solana prices are more affordable and many buyers prefer this marketplace due to its high scalability and secure environment.
If you have decided to buy a Solana NFT through Magic Eden, here is how you can do it:
- Go to magiceden.io
- Click on Connect wallet at the top right of your screen. Note that, Magic Eden requires its users to have a Solana wallet such as Phantom, Solflare, or Sollet.
- After connecting your wallet, you need to have funds in $SOL. Go to exchange and convert your currency into SOL.
- Now you are ready to buy your favorite NFTs. Browse through the hundreds of available Solana NFTs.
- After selecting your favorite, click on Buy Now or you can also click on Make an Offer for a better-listed price.
After the transaction is complete, you will receive your desired NFT in your crypto wallet.
Magic Eden is one of the best NFT marketplaces to buy your favorite digital collectibles. The team has partnered up with various artists and creators to launch exclusive collections into the marketplace.
Based on current trends and trading volume, there’s no doubt in saying that Magic Eden is the top 3 best NFT marketplaces in the world.