Magic Eden Wallet to simulate ME airdrop in October

Following the launch of the Magic Eden token ME in August, the Magic Eden Foundation has provided the latest update on when the airdrop will take place.

Magic Eden Foundation has not published the launch date of the ME token. However, in his update on September 30, he noted that a demand simulation would take place in October.

Token request will be possible via Magic Eden Wallet.

ME token simulation in October

As with other important platform token airdrops, expectations for ME are quite high. To prepare the community, Magic Eden plans to simulate token demand through its native wallet. According to the post on X, the project will launch a test token in the wallet to demonstrate the process of claiming ME tokens.

The mobile version of Magic Eden Wallet will allow users to connect all their wallets, including desktop, mobile and hardware, and view their total ME claims from a single interface.

ME tokenomics to follow

The token designated for the simulation will only be a “simple test token”. Magic Eden warned users not to get overly excited about this as the token will not have any utility or value.

However, after the test implementation is completed, the ME Foundation will announce the tokenomics of the project. It also plans to announce the token creation event for ME after the simulation event. This TGE could catalyze further growth for Magic Eden.

In August, Magic Eden announced that its new ME token would be at the center of the decentralized autonomous organization of the non-fungible token market. In addition to participating in DAO governance, holders will also have other benefits such as access to cross-chain trading in the web3 ecosystem.

August 2024 data showed that Magic Eden strengthened its dominance in the NFT market, with its market share reaching 37%.

By comparison, Blur’s market size has dropped to around 25%. Meanwhile, the overall dominance of OpenSea, which recently received an SEC Wells Notice, was seen to drop to 20%.