A token testing a forthcoming airdrop from the Solana-based NFT marketplace Magic Eden has amassed a market capitalization of $6.2 million, according to DEX Screener.
The test token, TestME, helps Magic Eden check the overall flow for when users claim ME, the platform’s future ecosystem and utility token. The TestME token is tradable on the decentralized exchange Meteora, where users added liquidity and swapped it with SOL, USDC and USDT. TestME’s value on DEX Screener hit $0.006576 as of 11:27 ET (15:27 UTC) on Oct. 30.
TestME is an official currency from Magic Eden, and its millions in market capitalization could suggest high user interest in ME’s eventual launch. To claim TestME, users must download the ME App, check their eligibility via scanning a QR code, link their wallet and finally accept the tokens.
Magic Eden announced in August of this year that it will adopt ME. Consumers can use the token on the Magic Eden platform, with possible usage on third-party protocols as well, The Block previously reported.
The Block reached out to a Magic Eden representative for comment.
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About Author
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
