SOLANA
3.2/ 5
Our score
Fair
Chains
Solana
Marketplace fee
0%
Token
ME
What is Magic Eden?
Magic Eden is a Solana NFT marketplace for discovering, creating and trading digital collectibles, art and gaming assets. Founded in 2021, it now focuses on Solana after closing its Bitcoin Ordinals and EVM marketplaces in March 2026.
Who is behind it
Magic Eden was founded by Jack Lu, Sidney Zhang, Zhuoxun Yin and Zhuojie Zhou. Lu is CEO, Zhang is CTO, Yin is COO and Zhou is Chief Engineer. Lightspeed Venture Partners describes the founders as having backgrounds across crypto, DeFi, consumer internet companies and management consulting. The company raised a $2.5 million seed round led by 6th Man Ventures in October 2021, a $16.9 million Series A led by Paradigm in March 2022, and a $130 million Series B led by Electric Capital and Greylock in June 2022. The Series B valued Magic Eden at $1.6 billion.
How the marketplace works
The marketplace supports NFTs on Solana. Listings and purchases are settled on the Solana network. Its current focus is narrower than its earlier multi-chain offering: Bitcoin Ordinals and EVM marketplaces were wound down in March 2026. The platform covers collectibles and gaming NFTs. Its ME token is associated with the Magic Eden ecosystem, while staking mechanics include Season leaderboards and Staking Power multipliers.
Fees and availability
Magic Eden charges 0% for listing NFTs. Its former multi-chain wallet was scheduled for retirement on 1 April 2026. The current product is focused on Solana rather than multiple chains.
Track record and risks
Magic Eden reported more than $2 billion in trading volume since launch by June 2022 and disclosed $75 million in revenue for that period. It acquired Slingshot in April 2025. In September 2026, the company said an exploit affected Limit Break Payment Processor V2, which Magic Eden had used for EVM trades in 2024. Magic Eden said it stopped using the processor in October 2024, had ended its EVM marketplace in the first quarter of 2026, and that no live Magic Eden listings were affected.
Concentrating the marketplace on one chain also removes the Bitcoin and EVM selection available before March 2026.
Founders
Jack LuCEO and Co-Founder
Background in crypto, DeFi, consumer internet companies and management consulting.
Sidney ZhangCTO and Co-Founder
Background in crypto, DeFi, consumer internet companies and management consulting.
Zhuoxun YinCOO and Co-Founder
Background in crypto, DeFi, consumer internet companies and management consulting.
Zhuojie ZhouChief Engineer and Co-Founder
Background in crypto, DeFi, consumer internet companies and management consulting.
Best for:Solana NFT collectorsSolana NFT creatorsArt and gaming collectionsME token participants
Pros and cons
Pros
- Focused Solana marketplace after March 2026
- 0% NFT listing fee
- Supports art, collectibles and gaming NFTs
- ME token ecosystem includes staking mechanics
- Reported more than $2B in volume by June 2022
Cons
- Bitcoin Ordinals and EVM marketplaces closed in March 2026
- Former multi-chain wallet retired on 1 April 2026
- Solana-only focus concentrates chain and liquidity exposure
- NFT markets remain vulnerable to phishing and fake collections
- ME staking rewards depend on token and program rules
- September 2026 exploit affected a previously used EVM payment processor
Our review
3.2/5
Fair
Magic Eden offers a focused Solana NFT market with established funding and trading history, but its March 2026 retreat leaves fewer chains and products.
Magic Eden is now a Solana NFT marketplace for collecting, trading and creating NFTs. That focus is narrower than the multi-chain market it previously operated: the Bitcoin Ordinals and EVM marketplaces closed in March 2026, after the company reported that more than 85% of trading volume came from Solana while other chains accounted for 80% of costs and 20% of revenue. Collectors seeking Solana art or gaming assets get a narrower remit, while buyers seeking Bitcoin or EVM assets need another marketplace.
The marketplace has a 0% listing fee. Magic Eden supports the ME token and upgraded staking with Season leaderboards and Staking Power multipliers in January 2026.
Founded in 2021 by Jack Lu, Sidney Zhang, Zhuoxun Yin and Zhuojie Zhou, the company raised a $130 million Series B in 2022 at a $1.6 billion valuation, with Electric Capital and Greylock leading. Reported trading volume exceeded $2 billion by June 2022. The company also acquired Slingshot in April 2025.
In September 2026, Magic Eden said an exploit affected Limit Break Payment Processor V2, which it had stopped using in October 2024. No live Magic Eden listings were impacted, and its EVM marketplace had already closed by Q1 2026. NFT buyers still face phishing and fake collections.
Magic Eden is focused on Solana, with a 0% listing fee and support for creators who create and list NFTs on that network.
Specs
| Chains | Solana |
|---|---|
| Marketplace fee | 0% · unverified |
| Focus | Collectibles, Art, Gaming |
| Token | ME |
| Zero marketplace fee | Yes · unverified |
| Points or rewards program | Yes · unverified |
Not disclosed by the provider: KYC required, Creator royalties, Launchpad, Aggregates other markets, Mobile app.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Solana NFT trading
Users can discover, list and trade NFTs settled on Solana, with the current marketplace focused on that chain.
NFT creation
Creators can create NFTs for the Solana marketplace alongside listing and trading functions.
Collectible categories
The marketplace focuses on collectibles, art and gaming NFTs.
Zero listing fee
Listing NFTs costs 0%, according to the reported fee schedule.
ME token
Magic Eden has the ME token, which is tied to its ecosystem and staking-related mechanics.
Season leaderboards
Staking includes Season leaderboards and Staking Power multipliers.
Inside Magic Eden
Solana NFT marketplace
The marketplace lets users discover, trade and create NFTs on Solana. Its stated focus includes art and collectibles.
What users say about Magic Eden
Specific praise is sparse, while complaints strongly dominate. The main concerns are losses of NFTs and funds, disputes over Magic Eden’s responsibility, and demands for compensation or a response.
In their own words
“I feel like I heard Magic Eden closed. I did buy my first NFT from them though!”
“I lost all 110 sol drained from a wallet connected to magic eden”
“After 2024 you should’ve promptly told everyone, “hey we stopped using our old contracts please revoke those as we are moving to a safer option” instead you dropped the ball and lead to blood in the streets, shame on you…”
“My NFTs that I’ve been holding for 4 years got drained because of this. I want compensation”
Based on 67 X replies from the last 12 months, checked Oct 17, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Magic Eden? Share your experience below.
Funding and investors
$149.4MTotal raised
5Rounds
10Investors
-
Series B Jun 2022 $130M
-
Series A Mar 2022 $16.9M
-
Series A Jan 2022 Amount undisclosedSource
-
Seed Oct 2021 $2.5M
-
Funding round Amount undisclosed
FAQ
Who founded Magic Eden?
Magic Eden was founded in 2021 by Jack Lu, Sidney Zhang, Zhuoxun Yin and Zhuojie Zhou. Lu is CEO, Zhang is CTO, Yin is COO and Zhou is Chief Engineer.
What fees does Magic Eden charge?
Magic Eden has a 0% listing fee.
Which chains does Magic Eden support?
Magic Eden currently focuses on Solana. Its Bitcoin Ordinals and EVM marketplaces closed in March 2026.
Does Magic Eden have a token?
Magic Eden has the ME token, and its staking system includes Season leaderboards and Staking Power multipliers.
Was Magic Eden affected by a security incident?
In September 2026, Magic Eden reported an exploit in Limit Break Payment Processor V2, which it had stopped using in October 2024. No live Magic Eden listings were impacted.
Is Magic Eden a good marketplace for NFT creators?
Magic Eden lets creators create and list NFTs on Solana, with a 0% listing fee.
Latest from Magic Eden on X
https://t.co/Hgb5UwOxyS
Put that shit on @retardioclassic 🤡🫵 https://t.co/ferUgDGCgm
Who is this? https://t.co/q6xoEyUiyX
Retardio Cousins
Recent public posts from @MagicEden, shown as published. Not reviewed or endorsed by CryptoReview.
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