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Magic Eden, a prominent marketplace for non-fungible tokens (NFTs), has recently made headlines with its decision to launch to serve Americans and global users separately. This tactical decision aligns with the platform’s aims to meet regulatory demands, particularly in the US market. This development comes after Magic Eden launched an open-source TypeScript library called “runestone-lib” in May.
Separate Domains Tailored to Region’s Specific Needs
In an X post, Magic Eden announced that US users will now access Magic Eden through magiceden.us, while international users will use magiceden.io starting this month. These domains will offer the same core services while focusing more on meeting each region’s specific needs.
Magic Eden revealed that this development is poised to enhance user experience, ensure regulatory compliance. Overall, it is to refine market strategies in the ever-evolving NFT landscape. The community-centric NFT marketplace, which launched its first mobile wallet in August, disclosed its recent partnership with D3 Global to apply for the .magic domain.
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The NFT platform noted that the collaboration is to combine traditional internet services with Web3 applications. Soon, users will manage a single .magic domain for websites, email addresses, and digital wallets in Web3 services. This will provide a seamless experience in handling both traditional and decentralized assets, the platform added.
Magic Eden’s Move Received Backlash
Upon the domain segregation news, the crypto community voiced their discontent on X about the change in domains and division. On the other hand, some users were feeling excluded by the perceived restrictions on service access.
The complaints were centered around the specific features of the NFT marketplace, notably the absence of airdrops for US residents. One user even mentioned that Magic Eden was on the verge of “restricting everyone” in the US from utilizing its service and earning money. The NFT platform was labeled a “centralized entity.”
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Speculations behind this separate domain decision might stem from the increasing regulatory scrutiny within the US. Nevertheless, a community member urged Magic Eden to be transparent and honest regarding potential regulatory issues.
The Launch of ME Token to Boost Ecosystem Growth
Magic Eden Foundation has been consistently expanding its services in the Web3 world. The NFT platform recently introduced native token ME despite the recent market slowdown. The platform revealed that this token plays a crucial role in the platform’s decentralized ecosystem. It will provide support for the cross-chain trading , propel NFT platform growth and decentralized apps (dApps) integration for Web3 users.
Above all, the ME token will have a key role in governance within the Magic Eden decentralized autonomous organization (DAO) protocols. Also, it will contribute to the new Runes platform, giving the community more say in the platform’s future.
