Magic Eden, a new NFT platform made for the Solana Network - Forex News by FX Leaders
Magic Eden, a new NFT platform made for the Solana Network

Magic Eden, a new NFT platform made for the Solana Network

Posted Thursday, November 4, 2021 by
Sophia Cruz • 2 min read

Magic Eden is a new NFT marketplace, built on the Solana Network, that utilizes selling, buying and minting of non-fungible tokens (NFTs). In this rising era of NFTs, many creative artists struggle to showcase their collections, due to the costs and technicalities required on other platforms. To solve this issue, Magic Eden bridges these barriers by simplifying the minting process and reducing the costs of transaction fees, delivering NFT ventures that are simple and affordable for everyone. 

How Does it Work?

On the Magic Eden platform, users are only charged 2% in transaction fees, and no listing fee, which makes it easier for new and regular NFT buyers and creators. SOL token is the utility token in this platform. Buying NFTs in Magic Eden is easy. After creating a Solana-compatible wallet, you can purchase SOL tokens from top crypto exchanges globally. Thereafter, connect your wallet to Magic Eden, and you can start browsing NFT collections on the platform. 

Minting your own NFT collection is possible via the Magic Eden Launchpad. Creators do not need to undergo a series of technical processes before launching digital assets. They just need to sign up for a specific form and make sure to fill out all the required information before meeting the Magic Eden team for confirmation. Another simple way of minting NFT is the newly launched “Mint Authority,” a self-service minting tool that will make minting easier for creators.

In Conclusion

Magic Eden’s mission is to simplify the minting process of digital assets. Still, it ensures that all entries undergo quality standards to preserve the credibility and quality of the NFT marketplace. Its absolute screening method guarantees high-quality NFTs that will benefit the community of Magic Eden. NFT collections inside the platform are growing daily, with its cost-effective transaction fees, resulting in progressed trading activity and a well-established community.

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