Magic Eden Foundation Launches ME Token for Cross-Chain Transactions

The Magic Eden (ME) Foundation has announced the upcoming launch of the ME Token, which is designed to support Web3 consumer decentralized applications (DApps) through cross-chain digital asset transactions.The ME Foundation's mission is to help develop the ME Decentralized Autonomous Organizations (DAO) protocol for “community-led governance”. The token is expected to be at the heart of NFT and Runes platform Magic Eden, which plans to be the first to officially adopt ME as its ecosystem token. NFT marketplace Magic Eden launched its first mobile wallet app on Thursday, allowing for the trading of NFT and the exchange (Swap) of cryptocurrencies such as Bitcoin, Ether and Solana. The platform will also begin using tokens issued by foundations that support the ME ecosystem.MagicEden's new app will support exchanging digital assets across five blockchains: bitcoin, ethereum, Solana, Polygon, and Base.MagicEden is also looking at expanding into categories such as pledge tokens, a service that provides revenue to holders.