Magic Eden: From the NFT Marketplace to Crypto Entertainment

Author: Ryan Yoon, Analyst at Tiger Research; Translated by: Shaw Jinse Finance

Key Takeaways

• Magic Eden has transformed from a simple NFT marketplace into a "crypto entertainment platform" by integrating gaming elements.

• Features such as "Lucky Buy" and "Packs" focus on user experience, successfully reshaping the platform's brand image.

• The platform uses 30% of its revenue to buy back ME tokens and NFTs, thereby building a strong connection with holders.

• The platform uses 30% of its revenue to buy back ME tokens and NFTs, thereby building a strong connection with holders.

1. Magic Eden: More Than Just NFTs

Founded in 2021, Magic Eden has rapidly disrupted the “NFT market wars.” With its low fees and creator-friendly tools, Magic Eden has quickly risen to become a key player on the Solana platform. To date, Magic Eden has facilitated between $15 billion and $20 billion in NFT transactions over the past four years.

Magic Eden: More Than Just NFTs

2.2. Packs Feature

“Packs”, launching in late October 2025, continues this strategy. It brings the thrill of opening physical card packs to the digital realm. Users can “open” digital card packs obtained through in-app activities to find rare digital collectibles: from NFTs in top Solana and Ethereum collections to tokenized, graded Pokémon cards.

• ME Token Buyback (15% of Revenue): The company directly buys back ME tokens from the market. This is similar to a stock buyback. Reducing the circulating supply puts upward pressure on the token's value.

• NFT Collection Buyback (15% of Revenue): The remaining 15% is used to buy back important NFT collections. These assets are permanently stored in an on-chain vault called "Eden." By directly maintaining the floor price, the company enhances the stability of the ecosystem. The project initially launched on Solana and will later expand to more platforms such as Bitcoin, Ethereum, and Monad. Magic Eden's token economic model transcends simple governance. The company's success directly drives token purchases and NFT price increases. This systematically interprets the concept that "project success equals community success," truly meeting the needs of the public. 5. The Completion of Crypto Entertainment for the Masses Magic Eden is no longer just an NFT trading platform; it is now a crypto entertainment platform for the masses, designed to bring joy to everyone. Magic Eden first built a solid financial foundation. Its wallets and exchange tools connect assets on decentralized blockchains. Subsequently, it added features like "Lucky Buy" and "Packs" to attract a large user base. To maintain this momentum, the company launched a program that uses 30% of its revenue for buybacks, providing users with a clear financial return. Magic Eden's strength lies in its speed and market insight. While competitors stagnate due to rules or complex technology, Magic Eden delivers the interactivity and "dopamine" that users crave. It boldly utilizes geo-blocking technology, moving quickly while other companies hesitate. However, a huge gap remains in the crypto entertainment space. High-value areas such as prediction markets hold billions of dollars in growth potential that is currently underutilized. Magic Eden is committed to leading this transformation and unlocking its value. To this end, the company is incubating several independent businesses, such as the iGaming platform Dicey. These new businesses will drive the next phase of growth. The final step is integrating these tools into mobile wallets. **When finance and entertainment are seamlessly integrated into a single application, Magic Eden will become a major gateway to the Web3 world.**