Originally published on: December 11, 2024
Magic Eden’s ME token had a rocky start, with its value dropping on release as users encountered issues with the platform’s mobile app and claiming process. The token, which debuted at $6.70, saw a sharp decline to $4.30 before rebounding to $8.60.
The airdrop process was marred by complaints of a convoluted claiming process and a glitchy mobile app. Users expressed frustration with the complexity of claiming ME tokens and reported difficulties in navigating the app.
Confusion also arose regarding whether tokens could be claimed via desktop or mobile, adding to users’ frustrations. The claims website experienced intermittent downtime, further exacerbating the issues users faced.
Despite these challenges, the ME token, released by the Magic Eden Foundation, boasts a total market capitalization of $776 million and a fully diluted valuation of $5.9 billion.
The platform aims to address user concerns and improve the claiming process to ensure a smoother experience for ME token holders. Stay tuned for updates on Magic Eden’s efforts to enhance user satisfaction and token performance.