Magic Eden：深耕多链NFT交易市场

Magic Eden 是一个多链支持的非同质代币（NFT）交易市场。布局Solana等多个区块链生态

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 是一个多链支持的非同质代币（NFT）交易市场。凭借在Solana、以太坊、Polygon、比特币等多个区块链生态系统的布局，迅速崛起，并于2024年成为市场领先平台之一。自2021年9月上线以来，Magic Eden通过其跨链市场和创新特性，特别是在整合Bitcoin Ordinals之后，成为该领域的重要参与者之一。

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 代币于 2024 年 8 月首次发布，首次代币生成活动 (TGE) 计划于 12 月举行。初期市场情绪较为积极，但从目前的市场走势来看，ME代币的价格未能达到预期，呈现高开低收的走势。跌破3美元后，价格反弹至3.3美元左右，市值为4.24亿美元，FDV为32.64亿美元。

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.

造成这一现象的主要原因之一是市场整体低迷，尤其是山寨币市场疲软，但代币价格的持续下跌缺乏有效支撑，这也反映出投资者对平台未来前景的谨慎态度。这一现象表明，NFT市场和山寨币市场普遍低迷，投资者对未来的增长仍持观望态度。

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 和比特币生态系统中占据主导地位，尤其是在比特币 Ordinals 和 Runescape NFT 市场，市场份额超过 80%。不过，Magic Eden 仍面临来自以太坊链上市场巨头的巨大竞争，例如 OpenSea 和 Blur。 OpenSea仍然是以太坊市场的领导者，而Blur则通过低廉的费用和频繁的交易在高端NFT市场获得了竞争优势。

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.

市场上的主要竞争对手是OpenSea、Magic Eden 和Tensor。在用户数据方面，OpenSea和Magic Eden在各自的生态系统中拥有稳固的地位。 OpenSea凭借先发优势，在以太坊主网及其第二层网络中保持绝对主导地位； Magic Eden 占据了 Solana 和比特币生态系统的绝大多数。两者未来的竞争将主要取决于双方在各自市场的进一步发展和用户增长。

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市场，Magic Eden的直接竞争对手是Tensor，但Tensor的缺点相当明显。首先，Tensor的用户质量较低，很多低佣金交易吸引了大量散户，导致用户忠诚度较低，平均交易价格远低于其他平台。

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."

短期来看，Magic Eden 在 Solana 和比特币市场的强势地位不易动摇，尤其是在 TGE 之后，其资金和敞口可能会进一步扩大其优势。不过，Magic Eden最大的挑战仍然是打破Blur和OpenSea在以太坊市场的垄断。虽然比特币的序号和铭文一度迎来繁荣，但其市场稳定性远不及以太坊。即使在以太坊 NFT 市场不景气的情况下，OpenSea 和 Blur 仍然垄断了大部分蓝筹项目，拥有更强的社区凝聚力和市场认可度。所谓“Blur控制大户，OS占领散户”。

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.

虽然比特币的普通和铭文一度经历了井喷，但其市场稳定性远不及ETH市场。即使在以太坊NFT市场非常低迷的情况下，它仍然垄断了几家公认的蓝筹股，其社区凝聚力和认可度遥遥领先。另一方面，虽然SOL和BTC比特币青蛙的价格一度超过BAYC，但好景不长，热度过后很快就陷入了混乱。如果Magic Eden未来不能拿出一些常青项目，其协议的持续盈利能力还有待观察。

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 代币（$ME）总发行量为 10 亿枚，计划分 4 年逐步发行。一半以上的代币将分配给社区，具体如下：

Initial Token Claim (12.5%)

初始代币领取 (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.

初始空投将在代币生成活动（TGE）上完全解锁，并分发给来自比特币、Solana 和以太坊等生态系统的活跃用户。这些用户将成为 Magic Eden DAO 的一部分。无人认领的部分将作为未来社区奖励的一部分返还给 $ME 质押者。

Community and Ecosystem (37.7%)

社区和生态系统 (37.7%)

Contributors (26.2%)

贡献者 (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.

这部分主要分配给为Magic Eden协议和平台提供支持的顾问、承包商和平台员工。为了确保长期承诺，核心贡献者（占贡献者代币总数60%以上）将在TGE后18个月内锁定，然后逐步解锁。

Strategic partners (23.6%)

战略合作伙伴（23.6%）

Strategic partners provide important support for the development

战略合作伙伴为发展提供重要支撑