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Magic Eden Allocates 30% of Marketplace Revenue to Token and NFT Buybacks 🔥
Magic Eden ($ME) has announced an immediate buyback program allocating 30% of all secondary marketplace revenue. The initiative will split funds equally between onchain $ME token buybacks and NFT acquisitions from supported collections.
The buyback structure includes:
• 15% for permanent $ME token removal from circulation
• 15% for purchasing NFTs, beginning with Solana-based collections
• Plans to expand the program across all supported chains in coming weeks
The $ME tokens acquired will be sent to a publicly visible wallet, ensuring transparency. The move represents a direct revenue-sharing mechanism between the marketplace and its community of collectors and token holders.
#MagicEden #ME #Buyback #NFT #Solana $ME