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Magic Eden is a marketplace that is designed to help you discover, mint, and trade non-fungible tokens (NFTs). It makes the process seamless, rewarding, and fun through features like market aggregation, cross-chain support, and reward programs.
Read on to learn more about Magic Eden in this comprehensive review.
Magic Eden is one of the largest NFT marketplaces, launched in 2021, and has quickly grown into a cross-chain hub for collectors, creators, and traders.
The marketplace supports Ethereum, Bitcoin, Solana, Polygon, Base, BNB Chain, and several other chains. Its appeal lies in combining market aggregation with creator tools, cross-chain swaps, and flexible royalties, all while keeping fees low.
Whether you’re minting a new collection, shopping across multiple chains, or looking for analytics like floor prices and rarity traits, Magic Eden provides a single dashboard experience.
Add in its reward program, Lucky Buy discounts, and non-custodial security model, and it’s clear why the platform has become the go-to platform for NFT fans.
Magic Eden is designed with numerous features that make it attractive for creators, collectors, and traders. The following are the most notable features of the marketplace:
The marketplace is designed with an in-built market aggregating feature. That means you get broad access to the listings across the wider NFT market, and that allows you to easily get the best deals from a single dashboard.
Besides Ethereum, Bitcoin, and Solana, Magic Eden supports the creation, minting, and trading of NFTs on a long list of blockchains.
The list includes Polygon, Base, ApeChain, BNB Chain, Sei, Monad, and several more. It, in particular, provides the tools you need to move funds and assets across these chains. This is especially important for users looking for opportunities across the different ecosystems.
If you are a creator and you are looking to turn your ideas into the next big thing in the NFT market, Magic Eden offers you the critical tools you need to do that. The creator launchpad, in particular, takes care of the most challenging technical obstacles that often stand in the way of creators.
Magic Eden offers creators, collectors, and traders flexibility in the sharing of royalties. The creators, in particular, can choose to have their artwork minted with a direction in the smart contract that a percentage of royalty has to be paid for every resale. On the other hand, collectors can choose to pay royalties even when the creators opt not to have it enforced.
The Lucky Buy feature adds a lottery-style bonus to eligible purchases. In essence, you stand a chance to buy an NFT at a fraction of its actual market price. That, however, doesn’t mean the asset loses its value. It only means you are getting a huge discount on your purchase.
The marketplace is designed to provide you with all the information you need to make informed decisions. That includes floor prices, volumes, and market trends. For a specific item, the marketplace provides listing price, last sale price, top offer, rarity, and traits.
On Magic Eden, users can also perform cross-chain swaps, bridging value without detours to third-party platforms. This is especially handy when you need funds from one chain to another to make time-sensitive buys.
Magic Eden charges between 0.5% and 2% in fees, depending on the chain that is being used. Of course, the network fees are outside the control of the marketplace and vary with network congestion level. A detail that stands out is that there is no listing fee on the platform.
Magic Eden is a non-custodial platform, which means that when you transact on it, you have full control of your assets at all times. The platform doesn't hold the assets on your behalf at any point. It is designed to make this as seamless and secure as possible for the end user.
Of course, you have to make use of the security features made available to you, such as secure passcode protection and recovery phrases for your connected wallet.
The Magic Eden marketplace is best for creators, collectors, and traders who need to keep their fees as low as possible. It is also great for collectors and traders who prefer having a broad view of the market before making decisions.
The following table compares Magic Eden to OpenSea, Nifty Gateway, Foundation, and SuperRare.
| Marketplace | Market Aggregation | Supported Blockchains | Rewards / Loyalty | Unique Features |
|---|---|---|---|---|
| Magic Eden | Yes | Ethereum, Bitcoin, Polygon, Sei, ApeChain, Berachain, Monad (Testnet), Avalanche, Base, Arbitrum, Abstract | Magic Eden Rewards | NFT market aggregation, Magic Eden Rewards, Lucky Buy, cross-chain swaps & Launchpad |
| OpenSea | Partial | Ethereum, Polygon, Klaytn, Optimism, etc. | Seasonal Voyage rewards | OS collection/ Pro Storefront Tools |
| Nifty Gateway | Partial | Ethereum (fiat on-ramps) | Occasional perks via drops | Fiat purchases, custodial options |
| Foundation | No | Ethereum | Creator-centric tools | Curation model |
| SuperRare | No | Ethereum | $RARE/ DAO governance elements | “Spaces”, gallery model |
If you are ready to buy, mint, or sell NFTs online, you can do it directly on Magic Eden using the following simple steps:
Follow Magic Eden’s guide to install a compatible wallet, launch it, and write down your recovery phrase.
Purchase ETH on an exchange and withdraw to your wallet address. If you hold assets on other chains, consider using the cross-chain swap tool in the Magic Eden Wallet.
Use Magic Eden’s search feature to sort by floor, volume, or other traits. Open collection pages to inspect stats on sales, listings, and royalties.
Confirm the collection’s verification badge, review traits and fees, then approve the transaction in your wallet.
Different marketplaces offer different advantages to creators, collectors, and traders.
If you are an active collector or trader, Magic Eden’s low fees, aggregated market coverage, cross-chain support, and Rewards program make it a standout platform in the NFT marketplace landscape, while as a creator, you’ll love the long list of community-centric features that make selling NFTs on Magic Eden incredibly rewarding.
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