The ME Foundation has announced the upcoming launch of the ME token to support Web3 DApps through cross-chain asset trading. The token will play a central role in Magic Eden, a global NFT platform. Magic Eden, initially Solana-based, now spans multiple blockchains and plans to integrate the ME token for ecosystem growth. With the ME token, DApps will enhance cross-chain asset trading capabilities. Magic Eden's growth is evident as it surpassed $6 billion in total trading volume, representing over 60% of NFT revenue. The platform outperformed competitors Blur and Yuga Labs in trading volume. Despite the NFT market's peak in 2022, it experienced a significant drop in market capitalization by August 2022. A report in September 2023 revealed that 95% of NFT collections had market caps of 0 ETH. The potential of a 'marketplace of algorithms' to improve social media remains untapped. Read more AI-generated news on: https://app.chaingpt.org/news