As a core secondary marketplace, Magic Eden currently attracts a million visitors per month, more than thousand new wallets are signed every day, reaching over $1 billion in transaction volume in a year. The main reason for this success is that Magic Eden is not only an NFT marketplace on the Solana network but also integrates various outstanding features. In this article, Builder.news will provide Magic Eden’s desirable factors and guide you on how to use Magic Eden.<h2>Magic Eden NFT marketplace introduction</h2><h3>About Magic Eden NFT marketplace</h3><img src="https://cdn.builder.news/news/11ed124ae63e9f35a8e6023f659fee92.jpg" alt="" title="magic-eden" width="600" height="517">Magic Eden is known as a decentralized NFT marketplace, which was released in early 2019 on the Solana (SOL) network. Similar to other NFT marketplaces, Magic Eden also allows users to buy, sell, and mint NFT. However, the core aim of Magic Eden is to make the process of minting and trading NFTs faster, easier, and cheaper for users.Among a lot of NFT marketplaces which are dramatically booming in the crypto market, Magic Eden, in our <a href="https://www.builder.news/crypto-insights/h1-2022-crypto-report-b7k5P#_section-26" alt="" title="H1 2022 Crypto report" target="_blank" rel="" class="">H1 2022 Crypto report</a>, is highly evaluated and could be a competitor to OpenSea. Until now, Magic Eden has gained a steady position in the market when being one of the most well-known independent Solana NFT platforms. Its impressive achievements include over 7,000 NFT collections being presented on platform, approximately 30,000 users globally, about 10 million visitors per month, close to 100,000 daily wallet connections, and generating $1.8 billion in secondary trading volume.In order to achieve this success, Magic Eden has an in-depth experience team in IT, crypto, blockchain, and product development, including:<ul><li>Sidney Zhang (Co-Founder &amp; CTO): Sidney has extensive experience in the Uber, Uber Eats, and Facebook AI teams.</li><li>Jack Lu (CEO): He hacked a Bitcoin wallet in 2013. Besides, he was known as a consultant in Boston, a product manager at Google, and a developer at FTX.</li><li>Zhuoxun Yin (COO): He was a head of strategy and business operations at dYdX and senior product Manager at Coinbase.</li><li>Zhuojie Zhou Rex (Chief Engineer): He has worked as an engineer at Uber, Checkr, and Facebook AI. Besides, he also created a lot of well-known products, such as Flagr, OpenMock, Open Privacy Vault, and DSRHub.</li></ul><h3>Magic Eden highlights</h3>There are reasons for Magic Eden to be loved by the mass in such a short period of time. The platform gives answers for the rising problems in other popular marketplaces such as high gas fees on OpenSea.<ul><li>Core Secondary Marketplace: Magic Eden has been becoming a great supporter for the NFT community as the fast transaction, easy process, various collections, low fee gas, launch many new efficiency features for users and attractive presence provide 5 different languages.</li><li>Drop calendar: This is a new outstanding feature that is significantly assigned for investors by listing out upcoming minting projects. In detail, Magic Eden allows newly-launched projects to be featured on the platform. Through the "Drops' ' feature, these projects will be presented on the website with necessary information such as social media, mint link, description, and date for users to have one stop shop place to investigate their preferred NFT project. Users can also look at how other investors think about the project by looking at the number of “heart” in front of each collection. This is considered as a good way to aggregate information in an all-in-one platform where people can find top-notch projects while receiving early signals from potential collections.<img src="https://cdn.builder.news/news/11ed124ae63ea753a8e6023f659fee92.jpg" alt="" title="drop calendar" width="600" height="431"></li><li>Launchpad: It is a unique feature of Magic Eden, which helps it stand out from other platforms. Launchpad enables users to construct NFTs in minutes, even if they have no prior NFT or development knowledge, while simultaneously guaranteeing that only authentic NFT inventors get access to the exchange.</li><li>Community: Magic Eden is a community-oriented place with a Discord channel reaching nearly 80k members as of writing. It places a high priority on community comments and recommendations, as seen by the introduction of a Magic Eden DAO in February 2022, which will allow the community to manage the project once it is completely constituted.</li><li>Gaming: Magic Eden helps support game creators and their communities on Solana. Magic Eden has now partnered with top game projects on Solana to launch Eden Games, a game platform tied to the Magic Eden ecosystem that showcases Solana's best games and hosts competitions.</li></ul><h3>Magic Eden vs. OpenSea</h3>Magic Eden and OpenSea are the popular names when it comes to the NFT marketplace. However, each platform will build a different image and development purpose. The below table will point out the difference between Magic Eden and OpenSea, enabling readers to easily find their suitable platform.<table><tbody><tr><td style="background-color: #f9cf2e;"></td><td style="background-color: #f9cf2e;">Magic Eden</td><td style="background-color: #f9cf2e;">OpenSea</td></tr><tr><td style="background-color: [object Object];">Payments</td><td style="background-color: [object Object];">Card and crypto wallets</td><td style="background-color: [object Object];">Crypto wallets</td></tr><tr><td style="background-color: [object Object];">Wallet support</td><td style="background-color: [object Object];">13 Solana wallets</td><td style="background-color: [object Object];">2 Solana wallets</td></tr><tr><td style="background-color: [object Object];">Transaction Fees</td><td style="background-color: [object Object];">2% fee on all transactions</td><td style="background-color: [object Object];">2,5% fee on all transactions</td></tr><tr><td style="background-color: [object Object];">Monthly Solana Users</td><td style="background-color: [object Object];">300,000 UAW monthly</td><td style="background-color: [object Object];">80,000 UAW monthly</td></tr></tbody></table> &gt;&gt;&gt; Read more: <a href="https://www.builder.news/news/how-to-use-opensea" alt="" title="how to use OpenSea" target="_blank" rel="" class="">An ultimate guide on how to use OpenSea NFT marketplace</a><h2>How to use Magic Eden</h2><h3>How to link wallet to Magic Eden</h3>Before getting into how to connect your wallet to Magic Eden, you need to prepare a wallet that is supported by it. If you don't own a wallet, you can create one by following these steps:<ol><li>Step 1-Choose prefered wallet: Click "Connect Wallet" in the top right corner and choose your preferred option.*Note: Magic Eden supports several Solana wallets, including: Solflare, Sollet, Torus, Phantom, Glow, Clover, Coin98, MathWallet, Slope, Solong.</li><li>Step 2-Download the wallet if yours is unavailable: Each wallet will have different prompts to register; you just follow them and do any necessary downloads.</li><li>Step 3-Connect wallet: Return to Magic Eden's webpage and click "Connect Wallet" once again once you've created your wallet.</li><li>Step 4-Finish: The site will automatically detect your wallet. Then click on the wallet to connect it and create a profile on Magic Eden.</li></ol><h3>How to mint an NFT on Magic Eden</h3>Unlike other NFT marketplaces, in order to mint NFT, users can use Magic Eden’s Launchpad by following these steps:<ol><li>Step 1-Select collection: Click “Launchpad” on the left side of the page and choose “Launches”. Then scroll down to find the collection you want to mint NFT.<img src="https://cdn.builder.news/news/11ed124ae63eac85a8e6023f659fee92.jpg" alt="" title="how to mint an NFT on Magic Eden" width="600" height="452"></li><li>Step 2- Check details: The page will present all of the information about the collection such as social media, team, description,etc.</li><li>Step 3-Get ready: Wait for the public mint or presale mint to start.</li><li>Step 4-Finish: Once the countdown is over, MINT AWAY!</li></ol>Note: Launchpad mints are frequently high-traffic mints, which means you're fighting for a chance to mint with a large number of individuals.<h3>How to buy NFT on Magic Eden</h3>Let’s get you started on your NFT journey with your first Solana NFT on Magic Eden with these steps:<ol><li>Step 1-Select NFT: Click "Collections" on the left hand side and choose one of the listed categories. Also, you can search for a collection in the search bar. Then choose the NFT you are interested in.<img src="https://cdn.builder.news/news/11ed124ae63eb245a8e6023f659fee92.jpg" alt="" title="popular collections" width="600" height="239"> </li><li>Step 2-Check details: The page will show all of the details about NFT, such as the floor price, links to the NFT project’s website, price history,etc..</li><li>Step 3-Choose a purchase form: There are two options for buyers, including:</li></ol><ul><li>Make an offer: When you want to make a new deal. You have to offer at least 50% of the listed price. Then wait for a response from the seller.</li><li>Buy now: When you want to buy right now. Then click "Approve" to accept the transaction fee as well as confirm the NFT’s details.</li></ul>Besides, you can also buy Solana NFTs through an auction.<ol><li>Step 1-Get started: Click "Marketplace" on the left side of the screen and choose "Auction".</li><li>Step 2-Choose NFT: Select any NFT you prefer and click on it. The page will provide NFT’s information, such as its creator, the duration of the auction, etc.</li><li>Step 3-Join the auction: Click "Play Bid" after understanding all details related to the auction as well as NFT and then set a price bid for it.</li><li>Note: In order to make a bid, you have to set a price higher than the current bid of at least 0.25 SOL. Magic Eden will be automatically returned if you are outbid.</li><li>Step 4-Get NFT: If your price is the highest bid, the NFT automatically becomes yours. At that time, click "Claim Item" and add it to your list.</li></ol><h3>How to sell NFT on Magic Eden</h3>In order to provide a comfortable experience for sellers, Magic Eden just requires some easy steps to sell Solana NFTs:<ol><li>Step 1-Choose NFTs: Click "Sell" in the top right corner to go to the "My Items" tab, which displays all of your NFTs. Then pick any NFT you want to sell and the NFT sale page will be opened.Note: The sale page provides all of the information on the NFT, including areas for listing your NFT on the marketplace. In detail, you will see information about the mint and token address, royalty, transaction fee, your address, and listing/bidding/cancellation fee on this sale page. Besides, when you scroll down further, the page will show the details of when the NFT has listed and sold in the past.</li><li>Step 2- Set price: Decide the price for your NFT and fill in the "List Price" box and then click "List now".</li><li>Step 3- Finish: Click "Approve" to accept to pay the 2% transaction fee and then your item will be listed on the marketplace.</li></ol><h2>Magic Eden fees</h2>Magic Eden also is known as NFT marketplace which requires a low cost from users. In detail, listing fees at 0%, make or cancel offer fees at 0% on Magic Eden. However, Magic Eden charges a 2% fee on all transactions.<h2>FAQs about Magic Eden NFT marketplace</h2><ol><li>How do I create my own Magic Eden collection?If you are a creative who wants to mint on Magic Eden, please apply to our Launchpad program: Launchpad Application Form.</li><li>How can I verify my NFT collection on Magic Eden?In order to verify your NFT collection, you have to fill in the Listing Application Form and wait for a response from the staff team.</li><li>Which collections are the hottest assets on Magic Eden?</li></ol>Several special collections which are attractive on Magic Eden includes:<ul><li><a href="https://magiceden.io/marketplace/degods" alt="" title="DeGods" target="_blank" rel="nofollow" class="">DeGods</a>:&nbsp;DeGods is one of the few that mixes art with usefulness. Having a DeGods for a PFP is like showing off your expert degen trading abilities.</li><li><a href="https://magiceden.io/marketplace/solana_monkey_business" alt="" title="Solana Monkey Business" target="_blank" rel="nofollow" class="">Solana Monkey Business (SMB)</a>:&nbsp;SMB is one of Solana's older OG projects, involving pixelated monkeys. A significant benefit of being a holder is access to monkeDAO, their community-owned and controlled NFT DAO and home to some of Solana's brightest minds.</li><li><a href="https://magiceden.io/marketplace/okay_bears" alt="" title="Okay Bears" target="_blank" rel="nofollow" class="">Okay Bears</a>:&nbsp;One of the chain's newest and most successful NFT collections, its 24-hour trading volume topped that of any other NFT project.</li></ul><div class="pr-block-special">Disclaimer: This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.</div>

Magic Eden is known as more than an NFT marketplace as it holds numerous features which significantly support users. Let's get started researching it!

Magic Eden - More than just an NFT marketplace