Magic Eden NFT

At this moment, Magic Eden NFT represents a large and very attractive currency that attracts the attention of a high number of new users. Although the currency was released soon, there are a lot of reasons why it became seriously attractive. One of the reasons is the difference that currency represents, while the other is connected to the founders’ goal to attract various users by offering a wide range of interesting features. 

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What is Magic Eden?

Magic Eden is a decentralized application built on the Solana blockchain. Users could use the platform for creating and managing non-fungible tokens and for various other purposes like gaming assets and digital collectibles. Solana released it in early 2019, and since then, it raised $27 million in a Series A round aiming to expand its range of products and services. 

After the first round when Solana raised the earnings, the second round was led by Paradigm which included Sequoia and Solana Ventures, which are Solana-based firms. This firm claims that it is the largest NFT marketplace on the Solana blockchain with a transaction volume of 7.5 million tokens over the last six months. The firm boasts over 90% market share for NFT. 

Magic Eden wants to use the funds to build out games on NFT mobile applications for browsing, minting, and trading with NFTs on the go. All of it the application could achieve thanks to the Solana ecosystem, as one of the main beneficiaries from developers and surely one of the greatest alternatives to the high transaction fees on Ethereum. Researchers like JPMorgan claim that Ethereum NFT market share dropped to 80% compared to 95% a year earlier mostly because of Solana and Magic Eden success. 

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What is behind the Magic Eden success?

Magic Eden NFT has shown up at the moment when the popular NFT market started to show signs of cooling. There are a lot of influences, starting from crypto returns, the emerging theme of investing in the metaverse, to the celebrity endorsement. The NFT market had been flooded with new NFTs which were similar to each other. It was about time to bring something new and different. Magic Eden was the novelty that was supposed to bring the change.

As Jack Lu, Magic Eden CEO and co-founder, said, it is an NFT that is much more mainstream and relatable than any other cryptocurrency. Not only that you can trade with it, but it also creates culture, improves the gaming industry and builds communities on the internet. The capital firm that made this cryptocurrency, Paradigm, joined Sequoia Partners, Solana Ventures, Greylock, and others. It should help invest in partnerships, build out a gaming vertical and help in launching a mobile application that will allow you easy minting, browsing, and trading NFTs. 

Thanks to a highly polished delightful product experience for users, Magic Eden should take a community-first approach, which will build a much stronger and more robust relationship with users. It is the most visible and important difference between this NFT and others. 

This NFT has a certificate of authenticity minted and preserved on a blockchain. Thanks to the programmable rules and certificate it serves as the receipt for digital goods like videos, music, million-dollar fine art, and digital real estate. New platforms that trade with NFT now list digital collectibles, like Bored Ape Yacht Club or Crypto Punk collections and Lu envisions. All the above represents the value that will raise the price in the near future. 

The Magic Eden NFT CEO says that they wanted to make a distinction between Web2 and Web3, at the same time allowing creators, collectors, and supporters to get involved in interaction with each other and support their interactions. It turned into a successful step, where Magic Eden NFT achieved user count faster than any other competitor. As they claim, 93% of all NFT transactions on the Solana blockchain are connected to Magic Eden NFT. 

The Solana NFT ecosystem has become a key marketplace and researchers analysts with data and research platforms said that it mostly consists of games and avatar NFT projects. It is an interesting fact that Magic Eden NFT is smaller than currently popular NFTs on the market, but has much wider popularity and achieved higher numbers of users in a short time.

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How does Magic Eden NFT show on the market?

Magic Eden NFT constantly grows and raises its value, yet it is still smaller than many other popular currencies. However, the NFT market has slowed in the past few months. The average selling in January was $3,000, the opposite of the average amount that we had last year of even $6,000. The daily sales average for this segment is $38, the opposite of last year’s record $160.2.

It was a logical change in cryptocurrency life, where it achieved the highest amount of value, and then became a high risk currency. There is a period when all will be brought back, but not in an exchange of safety. It is the place where currencies like Magic Eden NFT come into the scene. Since they represent an impressive attraction that is interesting even for beginners in this world, it should remain on the market at a stable and safe level. 

However, it is not possible to prevent high expectations from the currency that actually keeps the currency at a high level. Buyers love to trade in safe territory, keeping the value of the currency with the high interest they have. Many clients buy digital collectibles that serve as a signal or key to an exclusive online community. Other words, people bring popularity to the NFT and remain the currency on the top of the list, which keeps the value of it at a high level. Magic Eden NFT is made on the expectations and high interests that currency has. 

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Which Magic Eden NFT features have?

There are few desirable features that Magic Eden NFT has. Some of them are the same for each cryptocurrency, while the others represent the unique value of the currency.

Launchpad 

It is a unique feature for Magic Eden NFT. Thanks to it, this NFT allows users to create a new NFT in almost a minute, without special knowledge or development experience. The only disadvantage is limitation of the platform on a limited number of projects, but we expect change in this field in near future.

This feature sets Magic Eden NFT apart from any other NFT. The main reason is to create and sell your non-fungible tokens. Thanks to it, minting becomes secure with full-service support that is available worldwide. Since the platform is automatic, there is no need for any technical work. The only thing you need is to create files in advance and upload and the job is finished. All other steps are also automatic so the only thing you need to focus on is your creativity.

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Upcoming launches 

This currency gives a curated list of upcoming launches, which make searching for new NFTs easier and faster. It shows upcoming NFT launches in the coming weeks, meaning that you can easily predict when your favorite launch is around the corner. You will not need to search for the new project and by clicking on any project, it will send you straight to its Twitter account.

Popular collections 

This feature gives the latest and most popular NFT projects on the Solana blockchain, making sure that you are up-to-date on NFT projects. It should make your browsing, learning and investing in the latest projects easier.

It shows what is hot right now and which projects are receiving a lot of buzz. This is a great feature for those who are looking to cash in a highly popular NFT at the moment. The feature shows which digital assets attracted the most buyers and which will surely be popular. 

Attributes filter

When trading with NFT, you need to make choosing the NFT suits to your taste much easier. Magic Eden NFT allows it thanks to the new filtering system that gives you a power to use a wide range of discriminators which help you in finding the NFT you are looking for. You have a lot of places for it, like clothes, background, earrings, eyes and many others. 

Stats

Using a platform for NFT trading presumes having instantly available information about total supply, category and overall value of your digital asset. Thanks to that, your NFT is more valuable and you will have a nice overview of all your current assets. With volume percentage and floor price, you can easily determine which assets are more popular and which to invest in. 

Auction

You can get your preferred NFT without waiting for the seller to lower the price. Users also can sell with minimal fees and commission bonuses, if they participate in auctions regularly. They can bid on many types of items with the same success each time. 

Community

Finally, what makes Magic Eden NFT different from other NFTs is the large community with available feedback and suggestions, and constantly improving the quality. More people use the platform, the better Magic Eden NFT becomes, and other features and services get improved, too. You can participate in that success by giving your feedback and sharing the experience with other users. 

Magic Eden NFT pricing

As if features above were not enough, the price on the Magic Eden platform is attractive and acceptable for a wide range of users. If we compare them in the same niche, we would see that they are among the lowest. You can use a Solana compatible wallet, like Phantom, with very attractive fees.

The listing fee is 0%, transaction fees is only 2% and you will not pay anything for royalty differences per creator and offers fee. Minimum offer price is 50% of the listing price. 

Lucky Block – the lottery that everyone wins

Every buyer is looking for the most promising crypto to buy on Pancakeswap and Lucky Block is the closest to it. Do not be fooled by the fact that the token has been made as a type of online lottery on the gaming platform. The platform reshapes the industry with blockchain technology and surely changes the way that we consider cryptocurrencies as a serious investment. Lucky Block decentralizes the lottery industry, moving it on a safe platform, ensuring that everyone can be a winner. Blockchain on the platform should ensure transparency and fairness. 

It is a cheap but growing currency, launched on Pancakeswap in January and $0.000888 jumped up to $0.0030 – an amazing 127%. Aside from this information, the chain is highly attractive at the moment, mostly because of the accessibility of the lottery game to more people and constant investment in the assets upgrading. As we expect, the currency will be available on Binance and FTX, which are two of the biggest platforms, so the value will increase soon.

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How can you buy the Lucky Block NFT?

The Lucky Block Platinum Rollers Club NFT collection is minted on the Binance Smart Chain and that’s why you will need Wrapped BNB (WBNB). If you are using Trust Wallet, just add the coin to your wallet and then swap it with another crypto.

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Step 1: In Metamask, make sure you are on the Binance Smart Chain.

By default, Metamask will take you to the Ethereum Main Network, and to change the network, you need to click on “Wallet”. After that, you need to select Binance Smart Chain Network (which will be positioned at or near the bottom of the list of networks).

The ones of you who don’t see Binance Smart Chain listed, need to go to “Settings – Network – Add Network” and enter the following details:

Network Name: Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com

Then, go back to the network settings, choose Binance Smart Chain, and close the view. You will see under the “Wallet” heading that the network is now showing Binance Smart Chain.

Step 2: Get WBNB.

Swap BNB or another crypto for WBNB. Make sure you also have a small amount of BNB to cover gas fees and remember that you will need 3.75 WBNB to buy the NFT.

Step 3: Go to the NFT marketplace in your browser.

Simply go to nftlaunchpad.com.

Step 4: Click the “Connect Wallet” button.

Here, you simply need to click on the “Connect Wallet” button.

Step 5: Connect MetaMask or Trust Wallet

If you are using MetaMask, make sure to be on the Binance Smart Chain network, and also keep in mind that Trust Wallet is not available at launch.

Step 6: Click the “Explore” button.

Here, you will notice Platinum Rollers as one of the collections that you can purchase.

Step 7: Click on “Buy Now” to buy the NFT

Don’t be confused about not seeing the image of the actual NFT during the buying process. You will see it after the transaction is done.

Step 8: Here you will see your NFT appearing in your site profile area.

For accessing NFT Launchpad from your phone, you need to use Metamask’s built-in browser. Simply go to the drop-down menu and select “browser”. Then, type the “nftlaunchpad.com” URL into the address bar to navigate to the marketplace.

Now, you will see the NFT in your profile on NFT Launchpad. Click on the avatar on the bottom left-hand side.

To see the NFT in your MetaMask wallet, go to the import token at the bottom of the assets list. For the contract address paste: 0x78178bb96d3533D45EB4809bfE4c3F69E712b560

Collectible ID: the number of the NFT you bought

Token symbol: LCK

Decimals: 0

As we already mentioned, you can purchase your Lucky Block NFT on Launchpad, but there is one more way to do that. You can purchase the Crypto for your Lucky Block NFT, or any other NFT on eToro, and here we will explain how you can do that.

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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Which are the advantages and disadvantages of Magic Eden NFT?

One of the greatest advantages of this platform is user friendly and intuitive design, that allows newbies to use it which makes NFT listing accessible for both amateur and novice creators. Creators can control and power over their work, for only 2% fees for each transaction. 

However, you should know that it is an open platform that allows plagiarism and copying which occurs frequently. Also, there is no wallet integration, so you can view personal collections through the app. If we neglect those problems, the platform is a great option for newbies and those who want to view and learn about different projects and invest in the ones that hold appeal to the user. 

Conclusion

Magic Eden NFT is a great new cryptocurrency mostly opened to new users and creators, great for investors and surely one of the most wanted platforms in the future. At the time when NFT has a little lower interest, this platform will make your investment more attractive, payable and attractive to buyers. The platform is friendly-used, made for beginners and professionals and you will easily find all information at one place. You will not need to have previous knowledge about cryptocurrencies, or to implement special software for this platform. Thanks to the low fees the platform is a great place for investments.