How Magic Eden Is Building the Best Ethereum NFT Marketplace

The number of Ethereum NFT marketplaces has grown significantly since Cryptokitties kickstarted the NFT market in 2017. This has made it a little difficult to settle on one, especially if you are starting out as a creator, collector, or trader. 

We’ve prepared this guide to show you how Magic Eden has built–what we believe to be–the best Ethereum NFT marketplace. You’ll learn everything you need to know about minting, collecting and trading Ethereum NFTs on Magic Eden. 

TL;DR

• Magic Eden has the highest liquidity in the market, largest number of Ethereum NFT collections and a long list of community-centric features for creators and collectors. 
• The Magic Eden marketplace provide a Mint Terminal and Launchpad to help you create, discover, and mint new drops. 
• You can also get yourself highly valued collectibles at a fraction of the market price on Magic Eden with the Lucky Buy feature.

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What Makes a Great Ethereum NFT Marketplace?

Let’s take a look at the most important factors to consider when selecting a marketplace for Ethereum NFTs.

• Liquidity: The marketplace needs to be able to process all order requests and transactions without delays.
• Discoverability: It should be easy to search for and find NFTs on the marketplace, including using filters.
• UX: The marketplace should be intuitive so that you don't struggle to use it.
• Security: Preferably, the marketplace should be self-custodial, meaning you should have full control over your assets at all times.
• Affordability: The fees charged by the marketplace should be reasonable.

Magic Eden, as an Ethereum NFT marketplace, has all these listed qualities.

How Does Magic Eden Stand Out From the Crowd?

Magic Eden has several advantages. The most notable are:

Aggregating the Largest NFT Selection

You’ll find the largest NFT selection on Magic Eden. Our marketplace aggregates listings from  other Ethereum marketplaces to provide you with the best NFT trading opportunities.

Our aggregation service ensures you

• Always have the bets price discovery
• Always have the widest view of the market
• Always gives you the largest selection of NFTs to choose from
• Gives you a one-stop shop, requiring less time and effort

A variety of other marketplaces also add to Magic Eden's liquidity. 

User-Friendly By Design

Magic Eden's interface is clean and easy to navigate. It’s designed in a way that even complete newcomers can find their way around. Buying, selling, and even minting NFTs requires zero technical knowledge. Everything is laid out simply and intuitively. 

When you want to buy an NFT, you just select it, enter the bid amount, and wait for the seller’s confirmation. You can also just accept the seller’s asking price immediately.

Selling is also easy. You create a listing for your NFT, set the price, and wait. Either a buyer will accept your asking price, or they’ll send in a counteroffer. It’s literally as easy as real-world buying and selling, and in some ways even easier.

The Magic Eden platform is easily accessible thanks to its wallet integrations. Besides the Magic Eden app, you can connect several other Ethereum wallets and conveniently explore the NFT world.

Cross-Chain Access With a Click

In addition to Ethereum, Magic Eden supports multiple other blockchains, including Bitcoin and Polygon. Not only can you trade NFTs on the other blockchains, but you can also use a Swap feature to quickly and easily swap tokens across the different chains.

This benefits Ethereum NFT holders even more, since they can now access broader markets, different projects, and gain access to even more liquidity far beyond Ethereum’s native ecosystem.

Powerful Analytics and Pro Tools

Magic Eden provides market analytics as well as other tools for professional trading. You can use several metrics to filter for exactly the NFT you’re looking for. High fidelity graphs and tables with custom filters allow you to easily track what matters to you. 

With real-time analytics and advanced chart views, you can go to extreme depth.

Meanwhile, with marketplace aggregation, Magic Eden ensures that you can always access the best prices and liquidity.

NFT Mint Terminal & Launchpad

If you’re interested in discovering new projects or maybe even launching your own NFT collection, Magic Eden provides the right tools for that.

Mint Terminal helps you discover new NFTs across chains through a live feed. For example, you can discover collections that have the biggest number of mints in an hour, also known as the Top Drop. It is an excellent tool to get a live pulse on the market.

The Launchpad is helpful to those who want to launch their own NFT projects. If you’re a creator, use the ‘Create NFT Drop’ option on the Mint Terminal to get started. Every field you’re offered is editable, so you can make the collection fully yours. 

You can read this detailed, beginner-friendly guide for creating your own NFT drop. Even if you don’t know how the technical stuff works, you can easily get your project out there.

Why Ethereum NFT Users Are Choosing Magic Eden

Many are choosing Magic Eden because it has emerged as arguably the best Ethereum NFT marketplace, particularly due to the tools it provides.

Here are other reasons why Ethereum NFT creators, collectors and traders are choosing Magic Eden:

• Reward community engagement: Magic Eden offers a cross-chain reward program called Magic Eden Rewards, where you stake $ME tokens and collect rewards by completing quests like trading, swapping, and more.
• Competitive fee structure: If you’re listing your own NFT collection, the fee is set at 0%, while the transaction fees are at 2%. 
• Robust security and trust: The security of your NFTs and all other assets is taken very seriously. The marketplace utilizes the self-custody model, which means your NFTs are in your possession until they’re sold or you transfer them to another wallet address.
• Creator-centric support: Magic Eden supports NFT creators on Ethereum through its Launchpad, where they can easily and quickly launch their own collections. The marketplace also offers the option to enforce royalties to support the creators, which means you can choose to receive royalties whenever your NFTs are sold on the secondary market.
• Fun with Lucky Buy: Discover the Lucky Buy feature, where you can potentially get incredible NFTs for a fraction of the price. NFTs with the clover icon are part of the program. Using Lucky Buy instead of the traditional Buy option lets you buy at huge discounts.

Mint, Buy & Sell Ethereum NFTs on Magic Eden

If you’re ready to get started, head on over to Magic Eden and discover a wide range of NFTs, all at your disposal. 

Buy, sell, and mint NFTs, find new collections, unleash your creativity, and launch your own collection. The marketplace is designed to support you all the way.

Connect your wallet to Magic Eden to start discovering Ethereum NFTs today.

FAQs

What are the Ethereum fees on Magic Eden?

Magic Eden has a 0% listing fee for NFTs, along with a low transaction fee set at 2%. These fees are pretty competitive, as the majority of other marketplaces charge significantly more.

Does Magic Eden support other chains?

Yes, Magic Eden supports a total of 13 chains, including Ethereum. You can explore various ecosystems, including Bitcoin, Solana, Berachain, ApeChain, Monad, Sei and more.

What is the best Ethereum marketplace?

While the best Ethereum marketplace will depend on your personal preferences, Magic Eden ticks all the boxes for most creators, collectors, and traders. It offers a very user-friendly experience and aggregates across all major marketplaces within the Ethereum NFT ecosystem.