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Magic Eden Allocates 30% of Secondary Market Revenue to ME Token and NFT Buybacks

Magic Eden will use 30% of secondary market revenue for ME token and NFT buybacks, with automatic triggers for high-value trades and upcoming support for multiple blockchains.

SOL
NFT

Summary

According to its official announcement, Magic Eden will channel 30% of secondary market revenue into buybacks—15% for ME token purchases and 15% for NFT acquisitions. The program will initially prioritize Solana collections, with NFTs traded above 10,000 SOL prompting automatic buybacks. Magic Eden plans to expand this mechanism across all supported blockchains in the coming weeks.

Terms & Concepts
  • Buyback: A process where a company repurchases its own tokens, shares, or assets from the market to support their value or circulation.
  • ME token: The native cryptocurrency token of the Magic Eden NFT marketplace, used within its platform ecosystem.
  • NFT (Non-Fungible Token): A unique digital asset verified on the blockchain, representing ownership or proof of authenticity of items such as art or collectibles.