On-chain trading platform Magic Eden, formerly known as Biggest Solana NFT The marketplace has announced that it will begin directing 15% of all platform revenue to the ME token ecosystem starting February 1st.
“The goal is simple: When Magic Eden wins, the ecosystem wins,” the project wrote in an X post on Monday, January 19th. The team stated that the revenue distribution will be split equally between token buybacks and monthly buybacks. USDC Payments to ME stakers. Buybacks are often implemented by projects to increase token prices, as they mean the supply of tokens in circulation is reduced.
Despite this news, ME is down around 6.5% in the past 24 hours and remains down over 95% since its launch in December 2024, according to CoinGecko data.
ME 24 hour price chart. Source: CoinGecko
Magic Eden revealed that USDC Rewards will be distributed “based on staking power”. This depends on both how much ME is staked and how long it is locked. According to the announcement, stakers have 90 days to claim their rewards.
In another X post on Monday, Magic Eden CEO Jack Lu said the marketplace generated approximately $24 million in revenue in 2025 despite the prolonged economic downturn. NFT market. At a 15% allocation rate, approximately $3.6 million would flow into the ME ecosystem each year if revenues remained at similar levels.
If you keep half of that, USDC A total of approximately $1.8 million is available in rewards to stakers, although individual payout amounts vary.
magic eden pivot
Lu said the changes will better tie the token to Magic Eden’s broader efforts in the entertainment space, arguing that the market is entering a “supercycle of speculation where finance and entertainment converge.”
former NFT The marketplace announced its acquisition of on-chain trading platform Slingshot last April, pivoting to broader cryptocurrency trading, specifically meme coins. Same month, fellow leaders NFT Marketplace OpenSea made a similar move and began trading Solana tokens.
