magic eden review

Magic Eden has taken the NFT rivalry on Solana to another level and is giving platforms like Solanart a run for their money. The first part of this two-part series introduced you to Magic Eden and how to use the platform. You can catch up with that here.

This time around, we’ll compare Magic Eden (ME) and other Solana-based NFT marketplaces. We’ll also look at how to take part in the platform’s airdrop as well as using the launchpad. Now let’s get to it.

Magic Eden vs. Solanart

The competition between both platforms is intense and obvious. While Solanart was the first to launch on Solana, Magic Eden has taken over as the go-to spot for NFT transactions. This does not necessarily put Solanart out of business. But data from Dappradar places Magic ahead of Solanart.

dappradar magic eden

Source: DappRadar

For example, in terms of their users, Magic Eden has 39.97k users, while Solanart boasts 1.27k users. Both platforms also differ in transaction and trade volume. Solanart has an NFT trading volume of $225.95K, while Magic has about $3.4M.

Also, Magic Eden supports more wallets and more NFTs. Making it a more popular choice than Solanart.

Magic Eden Vs. Solsea

Solana has some notable NFT marketplaces, including Solsea. But Magic Eden ranks higher. You can say Magic Eden is the “Opensea” of Solana, accounting for more than half of the NFT activities on Solana.

Also, Solsea has enjoyed an impressive record of Solana being the first decentralized NFT marketplace on the blockchain. NFT creators can choose and embed licenses when creating Solana NFTs on Solsea.

While Magic Eden charges 2% on transactions, Solsea charges 3%. Additionally, Magic Eden supports more wallets than Solsea.

Magic Eden Launchpad

Launchpad is Magic Eden’s unique system of minting NFTs. The main idea is to represent the creators or artists by simplifying the minting process and making sure technical hitches do not affect it.

The launchpad also represents the users’ interests by ensuring that projects are vetted. Only select applicants, about 3%, according to the team, are allowed to present their work to the launchpad. Users have to apply to have their work on the launchpad.

Also, the marketplace provides its launchpad projects with additional support before their launch. The team supports the marketing campaigns of these projects, which helps the project expand its visibility and audience. Here is an example:

Furthermore, the NFT marketplace also features an exclusive creator community where authorized projects can cooperate and get support and feedback. So, we can say the launchpad is beyond a minting platform. But instead, it provides community support.

Magic Eden NFT Airdrop

As a community-focused project, the platform has organized NFT airdrops to reward community members. Airdrops are a form of crypto-giveaways where projects give out free tokens or NFTs to community members.

The platform conducted an airdrop exercise on February 21, 2022. The three days event featured users receiving the Magic Ticket NFTs. Users had to connect their email and discord addresses to Magic Eden to be eligible. Here is an example:

The NFTs provided access to the DAO and were divided 3 groups:

  • OGs,
  • Degens 
  • Normies

DAO members will have access to voting and governance rights. 

Visit the website and social media handle for future airdrops and giveaways. And that’s it for this part of our series. We hope you like it.

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