Magic Eden

Magic Eden is an NFT marketplace on Solana. Collectors use it to buy, sell and bid on NFTs. Creators use its Launchpad to put out new sets. Listing is free, and Magic Eden takes 2% of each sale.

Magic Eden once also served Bitcoin and Ethereum. It shut those markets in March 2026 and is now Solana-only. Beside the marketplace it runs Packs, Lucky Buy, an XP rewards scheme and a casino called Dicey. Its token, $ME, lives on Solana. The firm behind it is Euclid Labs.

How does Magic Eden work?

Magic Eden matches NFT sellers and buyers through listings and offers. Sellers post a price, or sell to someone who has made an offer. Buyers pay the price, or make an offer on one item or a whole set. Each trade settles on Solana, and your NFT stays in your own wallet until it sells.

Bidders can use an escrow wallet. It is one pool of SOL that can back up to 100 offers at once. If the pool runs too low for an offer, that offer is pulled until you top up. Magic Eden says escrow funds stay in your sole custody and you can take them out at any time.

The marketplace lists standard Solana NFTs, compressed NFTs (cheap NFTs stored in a compact form), Metaplex Core NFTs and some SPL tokens. You will find art, profile pictures, game items and tokenized trading cards. Traders can also use AMM pools, which buy and sell NFTs along a set price curve.

US visitors land on a separate site, magiceden.us. Magic Eden launched that US domain in September 2024. Some features differ by region: Magic Eden's Lucky Buy guide, for example, is marked as meant for non-US users only.

What are Magic Eden's fees and royalties?

Magic Eden charges nothing to list an NFT and takes 2% of every completed trade, according to its fees page (updated March 2026). Creator royalties are optional on Solana unless the collection enforces them in its metadata. Solana network fees come on top, at a fraction of a cent per transaction.

On optional royalties, the buyer chooses whether to pay the royalty the creator set. When a royalty is paid, it goes to the creator straight after the sale. You can check each collection's royalty rate on the item page before you buy.

Lucky Buy has its own fee of 5%, covered in the Lucky Buy section below.

Magic Eden Launchpad and Creator Hub for NFT creators

The Magic Eden Launchpad is where new Solana NFT sets go on sale for the first time. Teams apply to launch. If accepted, they get mint tools, allowlists, mints in stages and a slot on the homepage where buyers will see it.

The Creator Hub is for sets that already exist. Teams use it to apply for a listing and to keep their set's details up to date. Our summary of Jack Lu's Breakpoint 2024 keynote covers the product direction Magic Eden set out at the time.

Magic Eden Packs: Pokémon and NFT packs, odds and payouts

Magic Eden Packs are paid mystery packs. You buy a pack, Magic Eden draws a random result, and you either keep the prize or take an instant cash payout. There are two kinds. Pokémon Packs hold tokenized, graded Pokémon cards supplied by Collector Crypt. NFT Packs hold NFTs from Solana collections. Each pack shows its drop rates before you buy, per the Packs guide.

The Packs page lists Pokémon Packs at 25, 50, 250 and 1,000 USDC, and SOL-priced Bronze Mini, Gold and Platinum NFT Packs. Here is how the payouts work, per Magic Eden's guide:

Say you open a $250 Pokémon Pack and pull a card valued at $1,000. You can take a $900 payout, trade the tokenized card, or redeem it through Collector Crypt for the physical card. With an NFT Pack, if you don't choose within five minutes, you get the payout automatically. Our interview with Collector Crypt's Tuomas Holmberg explains how the card side works.

Magic Eden describes the draw as provably fair. You commit your purchase on-chain first, then Magic Eden signs it, and that signature sets the result. Neither side can know or change the outcome in advance, and a public sandbox lets you check any result from its transaction hash.

Lucky Buy on Magic Eden: how it works and what it costs

Lucky Buy lets you pay part of an NFT's listed price for the same percentage chance of winning it. Commit 10% of the price and you have roughly a 10% chance. If you lose, your SOL is spent and you get an Open Edition NFT as a consolation. If you win, you can keep the NFT or take an instant payout of 95% of the listing price, per the Lucky Buy guide.

Lucky Buy charges a flat 5% fee on top of the listing price. Sellers get the full listing price plus up to 0.75% of that fee, depending on the odds the player picked. A Magic Eden treasury covers the gap between what the winner paid and the full price.

Lucky Buy works on Solana only, and not for compressed NFTs, Metaplex Core NFTs or SPL listings. Results come from a verifiable random function (a random number generator that publishes a proof anyone can check). Magic Eden's guide says the product is for non-US users only.

Magic Eden Rewards and XP

Magic Eden Rewards is a points scheme. You earn XP by trading NFTs, playing Lucky Buy and opening Packs, and you do not need to stake $ME to take part. XP raises your level, and levels unlock rewards, with a milestone reward every 10 levels up to a cap of level 50. That is the system set out in the XP rewards guide dated June 2026.

On a normal marketplace or Packs purchase, the buyer and the seller each get half of the XP. On a Lucky Buy, the buyer gets all of it.

XP and levels reset at 00:00 UTC on the last day of each month. Any reward you unlocked but didn't claim before that reset is lost, so claim from your Rewards Inventory before the month ends.

Is Magic Eden still multichain? Bitcoin, Ethereum and the 2026 return to Solana

No. Magic Eden is Solana-only again. Over a few years it had added Bitcoin Ordinals and Runes, Ethereum and other EVM chains, and its own wallet. In February 2026 it reversed course.

Its service-changes notice set the dates. EVM and Bitcoin trading ended on 9 March 2026. The last Bitcoin services and APIs shut later that month.

CEO Jack Lu said the move lets the team put its full weight behind Dicey, its new casino. He pointed to "the massive opportunity in iGaming", or online gambling. Most of the site's trades were on Solana anyway: Decrypt, citing a Dune dashboard, said Solana NFTs made up most of its January 2026 volume.

The developer docs now list the EVM API as no longer supported. The Solana market, Packs and Lucky Buy all carried on.

What happened to the Magic Eden Wallet?

The Magic Eden Wallet is shut down. The browser extension, the mobile app and the Account Wallets made on the Magic Eden website were all discontinued. Per the wallet deprecation guide, the app left the app stores on 1 April 2026 and wallet services were due to shut fully on 1 May 2026.

If you still hold funds in an old Magic Eden Wallet, the way out is your private key. Magic Eden's guide tells users to export the private key (not a seed phrase) and import it into another Solana wallet. That keeps the same address and assets. Magic Eden does not recommend a particular wallet. It says it cannot recover a key you never exported.

Dicey: Magic Eden's casino and sportsbook

Dicey is a crypto casino and sportsbook built by Magic Eden. Bets settle on Solana. Dicey is a separate gambling site with its own terms. It is not part of the NFT marketplace.

In February 2026, Jack Lu said about 200 players had bet more than $15 million in Dicey's closed beta, then two months old. Magic Eden now describes its focus as "the intersection of finance and entertainment". Through late October 2026, most posts on the main @MagicEden X account were reposts from Dicey, such as new games and a Halloween event.

$ME token: staking, buybacks and governance

$ME (ME) is Magic Eden's token. You can stake it to earn a share of the company's revenue and to vote. It launched in December 2024.

Supply is fixed at 1 billion tokens, released over four years, per the tokenomics the ME Foundation published before launch:

Since 1 February 2026, 15% of all Magic Eden revenue goes to $ME. Half buys $ME on the open market. The other half is paid to stakers in USDC.

Your share of the USDC pool depends on staking power. You choose an amount and a lockup period, and longer lockups earn a multiplier. The staking rewards guide sets the rules. A snapshot before each month decides who is eligible. A stake that ends mid-month earns nothing for that month. You must claim each month's rewards within 90 days.

Staked $ME also gives you votes, equal to your staking power. Per the governance guide, holders vote on-chain on ideas first talked through on a forum.

Magic Eden's March 2026 notice says $ME "remains an important part" of its plans. It also says the company's focus is Dicey, and that more on $ME's role will come later. Decrypt reported in February 2026 that $ME was down about 97% from its peak. The token widget on this page shows the current price.

Who is Magic Eden for?

Magic Eden suits Solana NFT collectors and first-time buyers best. The homepage is easy to browse, there is plenty to buy, checkout is simple and the help pages are written for beginners. The catch is that it only does Solana now. If you collect Ordinals or Ethereum NFTs, you need another market.

Creators with a new Solana set get buyers as well as mint tools from the Launchpad. Plan for buyers being able to skip royalties unless your set enforces them.

Active traders get escrow-backed offers and AMM pools. Many pro Solana NFT traders also use Tensor, which is built around trading tools.

Packs and Lucky Buy are games of chance with a house fee. $ME stakers earn a USDC share of revenue. That income goes up and down with Magic Eden's sales, and your tokens are locked while staked.

Is Magic Eden safe? Risks and security

Magic Eden has run since 2021, and on Solana your NFTs stay in your wallet until they sell. The main risks lie elsewhere. The company can change its main market code. Old Ethereum sign-offs were hit by an attack in September 2026. And scammers target its users with fake airdrops and copycat sites.

Who can upgrade the Magic Eden marketplace program?

Magic Eden does not hold your assets on Solana, so the risk sits in its code. Its main market program, Magic Eden V2, can be changed. The right to change it sits with a Squads multisig, a shared wallet that needs more than one person to sign. Solscan names it "Magic Eden Multisig Authority". We could not see how many people hold keys, or how many must sign. Either way, the company can change the code. Solscan shows no verified build, and we found no public audit for this version.

To check it yourself on an explorer:

• Magic Eden V2 program: M2mx93ekt1fmXSVkTrUL9xVFHkmME8HTUi5Cyc5aF7K
• Upgrade authority: 9GWPeu3cBfkGSEit6HMaAFKswoirxqgMqykMh7RVH2Bb

The September 2026 legacy-approval exploit

On 24-25 September 2026, attackers broke into Payment Processor V2, a contract built by Limit Break. Magic Eden had used it to settle Ethereum-side trades from about February to October 2024. NFTs listed there in that window still gave the contract "approve for all" rights.

Meebits, Otherdeeds and Desperate ApeWives were among the NFTs taken. Friendly hackers moved 23,155 NFTs at risk, worth about $5.7 million, to safety. The Block reported that about 660 WETH was lost.

In its statement, Magic Eden said no live listings were hit. It told past Ethereum-side users to cancel that sign-off on Ethereum, Polygon and Base. Solana listings were not involved. The lesson: a sign-off you give a market stays live after you stop using it.

Fake airdrops and impersonators

Magic Eden says it will never airdrop a "Mystery Box" or similar NFT at random. Its fake-airdrop guide explains that these NFTs link to sites that drain your wallet once you connect and approve. Don't click them. Burning the junk NFT returns a little SOL, and our tool for closing empty token accounts recovers the rent left in accounts you no longer need. Magic Eden keeps a list of its official accounts to check against.

The $ME class action

In June 2026, $ME buyers sued in a New York federal court. The case, Pagan v. Lu, seeks to act for all $ME buyers. It names Euclid Labs, the ME Foundation and the four co-founders. The buyers say $ME's promised uses, such as trading across chains, voting, staking and revenue share, came late, shrank or never came.

In a ruling reported on 1 October 2026, the court threw out the claims against Euclid Labs and co-founder Zhuoxun Yin. For Euclid Labs, it pointed to wallet terms in which users gave up the right to sue as a group. Claims against the others, including CEO Jack Lu, go on.

A business in transition

In 2026 Magic Eden shut its Bitcoin, Ethereum and wallet products. Its notice names Dicey as the company's focus and says more on $ME's role will come later. The market's products and the token's uses may keep changing.

Magic Eden vs Tensor and other alternatives

Magic Eden is the easier Solana NFT market for most people, and Tensor is the one built for active traders. Many sets list on both.

Magic Eden adds a browsing feed, a Launchpad, Packs, Lucky Buy and XP rewards. Tensor puts pro-style charts, fast bids and bulk trading first.

Magic Eden is the simpler place for a first buy or a new launch. Heavy flippers tend to use Tensor, or both. For Bitcoin Ordinals or Ethereum NFTs, Magic Eden no longer works, so look at markets built for those chains.

Magic Eden founders, funding and history

Magic Eden was founded in September 2021 by four people. Jack Lu is CEO and worked at Boston Consulting Group and Google. Sidney Zhang is CTO. Zhuoxun Yin is COO and worked at Bain, dYdX and Coinbase. Zhuojie Zhou is Chief Engineer and worked at Facebook and Checkr. Within months, Magic Eden was the main place to trade Solana NFTs.

Magic Eden raised a $27 million Series A led by Paradigm in March 2022. Three months later came a $130 million Series B.

Greylock Partners and Electric Capital led the Series B, which valued the company at $1.6 billion. Paradigm, Sequoia Capital and Lightspeed Venture Partners also invested.

Magic Eden handled most Bitcoin Ordinals trading during the 2024 boom. In March 2024 it overtook Blur as the top NFT market across all chains, with $734 million traded that month.

It launched $ME in December 2024. It closed its products on other chains in spring 2026 and now runs Solana NFTs and Dicey.