Magic Eden has announced the launch of a new buyback program that aligns the platform’s performance with the interests of ME token holders and NFT creators.
According to the announcement, the company will direct 15% of its marketplace revenue to repurchase its native ME token and another 15% to buy NFTs from collections hosted on the platform.
Project representatives said the initiative takes effect immediately. NFT purchases will start with projects in the Solana ecosystem before expanding to Bitcoin, Ethereum, Monad, and other networks in 2025.
The acquired assets will be stored in The Garden of Eden – a public on-chain vault containing collectible NFTs accumulated by the platform.
Magic Eden stated that it aims to establish a direct link between the platform’s growth and community benefits.
“Redistributing part of the revenue through a buyback strengthens that connection, while purchasing NFTs serves as an experiment to extend support to a broader range of creators and collectors,” said Jack Lu, Magic Eden’s co-founder and CEO.
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