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Magic Eden launches a buyback program: 15% of the revenue from the NFT market will be used to buy back ME, and another 15% of the revenue will be used to buy back NFTs.
Foresight News reports that the multi-chain trading platform Magic Eden has announced the launch of its first buyback program, committing to use 15% of its NFT market revenue to repurchase its native Token ME, and additionally allocate 15% for purchasing NFT collectibles launched on the platform, as part of an initial ecosystem support plan. These repurchased NFTs will be stored in The Garden of Eden, which is a public on-chain asset repository. The Token buyback will begin immediately, while the NFT buyback will start with Solana-based collectibles and then gradually expand to Bitcoin, Monad, Ethereum, and other ecosystems during 2025.