Magic Eden：深耕多鏈NFT交易市場

Magic Eden 是一個多鏈支援的非同質代幣（NFT）交易市場。佈局Solana等多個區塊鏈生態

Magic Eden is a multi-chain supported non-fungible token (NFT) trading market. With its layout in multiple blockchain ecosystems such as Solana, Ethereum, Polygon and Bitcoin, it has rapidly risen and become one of the leading platforms in the market in 2024. Since its launch in September 2021, Magic Eden has rapidly expanded its market share through its cross-chain market and innovative features, especially after integrating Bitcoin Ordinals, becoming one of the important players in this field.

Magic Eden 是一個多鏈支援的非同質代幣（NFT）交易市場。憑藉在Solana、以太坊、Polygon、比特幣等多個區塊鏈生態系統的佈局，迅速崛起，並於2024年成為市場領先平台之一。市場和創新特性，特別是在整合Bitcoin Ordinals之後，成為該領域的重要參與者之一。

The ME token was first released in August 2024, and the first token generation event (TGE) is scheduled for December. The initial market sentiment was relatively positive, but according to the current market trend, the price of the ME token failed to meet expectations and showed a trend of opening high and closing low. After falling below $3, the price rebounded to around $3.3, with a market capitalization of $424 million and a FDV of $3.264 billion.

ME 代幣於 2024 年 8 月首次發布，首次代幣生成活動 (TGE) 計劃於 12 月舉行。初期市場情緒較為積極，但從目前的市場走勢來看，ME代幣的價格未能達到預期，呈現高開低收的走勢。跌破3美元後，價格反彈至3.3美元左右，市值4.24億美元，FDV32.64億美元。

One of the main reasons for this phenomenon is the overall sluggish market, especially the weakness of the altcoin market, but the continued decline in token prices lacks effective support, which also reflects investors' cautious attitude towards the future prospects of the platform. This phenomenon shows that the NFT market and the altcoin market are generally sluggish, and investors remain on the sidelines about future growth.

造成此現象的主要原因之一是市場整體低迷，尤其是山寨幣市場疲軟，但代幣價格的持續下跌缺乏有效支撐，這也反映出投資人對平台未來前景的謹慎態度。這一現象表明，NFT市場和山寨幣市場普遍低迷，投資者對未來的成長仍持觀望態度。

Magic Eden has a dominant position in the Solana and Bitcoin ecosystem, especially in the Bitcoin Ordinals and Runescape NFT markets, with a market share of over 80%. However, Magic Eden still faces huge competition from market giants on the Ethereum chain, such as OpenSea and Blur. OpenSea is still the leader in the Ethereum market, and Blur has gained a competitive advantage in the high-end NFT market through its low fees and frequent transactions.

Magic Eden 在 Solana 和比特幣生態系統中佔據主導地位，尤其是在比特幣 Ordinals 和 Runescape NFT 市場，市場份額超過 80%。不過，Magic Eden 仍面臨以太坊鏈上市場巨頭的巨大競爭，例如 OpenSea 和 Blur。 OpenSea仍然是以太坊市場的領導者，而Blur則透過低廉的費用和頻繁的交易在高端NFT市場獲得了競爭優勢。

The main competitors in the market are OpenSea, Magic Eden and Tensor. In terms of user data, OpenSea and Magic Eden have a solid position in their respective ecosystems. With its first-mover advantage, OpenSea maintains an absolute dominant position in the Ethereum mainnet and its second-layer network; Magic Eden occupies the vast majority of the Solana and Bitcoin ecosystems. The future competition between the two will mainly depend on the further development of both parties in their respective markets and user growth.

市場上的主要競爭對手是OpenSea、Magic Eden 和Tensor。在用戶資料方面，OpenSea和Magic Eden在各自的生態系統中擁有穩固的地位。 OpenSea憑藉先發優勢，在以太坊主網及其第二層網路中保持絕對主導地位； Magic Eden 佔據了 Solana 和比特幣生態系統的絕大多數。兩者未來的競爭將主要取決於雙方在各自市場的進一步發展和用戶成長。

In the Solana market, Magic Eden's direct competitor is Tensor, but Tensor's shortcomings are quite obvious. First, Tensor's user quality is relatively low, and many low-royalty transactions have attracted a large number of retail investors, resulting in low user loyalty and an average transaction price that is much lower than other platforms.

在Solana市場，Magic Eden的直接競爭對手是Tensor，但Tensor的缺點相當明顯。首先，Tensor的用戶品質較低，許多低佣金交易吸引了大量散戶，導致用戶忠誠度較低，平均交易價格遠低於其他平台。

In the short term, Magic Eden's strong position in the Solana and Bitcoin markets is not easy to shake, especially after TGE, its funding and exposure will likely further expand its advantage. However, Magic Eden's biggest challenge is still to break the monopoly of Blur and OpenSea in the Ethereum market. Although Bitcoin's Ordinals and Inscriptions once ushered in a boom, their market stability is far less than that of Ethereum. Even when the Ethereum NFT market is sluggish, OpenSea and Blur still monopolize most blue-chip projects and have stronger community cohesion and market recognition. The so-called " Blur controls the big players, and OS occupies the retail investors."

短期來看，Magic Eden 在 Solana 和比特幣市場的強勢地位不易動搖，尤其是在 TGE 之後，其資金和曝險可能會進一步擴大其優勢。不過，Magic Eden最大的挑戰仍然是打破Blur和OpenSea在以太坊市場的壟斷。雖然比特幣的序號和銘文一度迎來繁榮，但其市場穩定性遠不及以太坊。即使在以太坊 NFT 市場不景氣的情況下，OpenSea 和 Blur 仍然壟斷了大部分藍籌項目，擁有更強的社區凝聚力和市場認可度。所謂「Blur控制大戶，OS佔領散戶」。

Although Bitcoin's ordinarys and inscriptions once experienced a blowout, its market stability is far less than that of the ETH market. Even when the Ethereum NFT market is very depressed, it still monopolizes several recognized blue chips, and its community cohesion and recognition are far ahead. On the other hand, although the prices of SOL and BTC Bitcoin Frogs once exceeded BAYC, they were short-lived and soon became a mess after the heat. If Magic Eden cannot come up with some evergreen projects in the future, the continued profitability of its protocol remains to be seen.

雖然比特幣的普通和銘文一度經歷了井噴，但其市場穩定性遠不及ETH市場。即使在以太坊NFT市場非常低迷的情況下，它仍然壟斷了幾家公認的藍籌股，其社區凝聚力和認可度遙遙領先。另一方面，雖然SOL和BTC比特幣青蛙的價格一度超過BAYC，但好景不長，熱度過後很快就陷入了混亂。如果Magic Eden未來無法拿出一些常青項目，其協議的持續獲利能力還有待觀察。

The total supply of Magic Eden's token ($ME) is 1 billion, which is planned to be issued gradually over 4 years. More than half of the tokens will be allocated to the community, as follows:

Magic Eden 代幣（$ME）總發行量為 10 億枚，預定分 4 年逐步發行。一半以上的代幣將分配給社區，具體如下：

Initial Token Claim (12.5%)

初始代幣領取 (12.5%)

The initial airdrop will be fully unlocked at the Token Generation Event (TGE) and distributed to active users from ecosystems like Bitcoin, Solana, and Ethereum. These users will become part of the Magic Eden DAO. The unclaimed portion will be returned to $ME stakers as part of future community rewards.

初始空投將在代幣生成活動（TGE）上完全解鎖，並分發給來自比特幣、Solana 和以太坊等生態系統的活躍用戶。這些用戶將成為 Magic Eden DAO 的一部分。無人認領的部分將作為未來社區獎勵的一部分返還給 $ME 質押者。

Community and Ecosystem (37.7%)

社區與生態系 (37.7%)

Contributors (26.2%)

貢獻者 (26.2%)

This portion is mainly allocated to consultants, contractors, and platform employees who provide support for the Magic Eden protocol and platform. In order to ensure long-term commitment, core contributors (accounting for more than 60% of the total contributor tokens) will be locked within 18 months after the TGE and then gradually unlocked.

這部分主要分配給為Magic Eden協議和平台提供支援的顧問、承包商和平台員工。為了確保長期承諾，核心貢獻者（佔貢獻者代幣總數60%以上）將在TGE後18個月內鎖定，然後逐步解鎖。

Strategic partners (23.6%)

策略夥伴（23.6%）

Strategic partners provide important support for the development

策略夥伴為發展提供重要支撐