According to Decrypt, NFT market Magic Eden announced the launch of its token called ME, which users will be able to claim through its mobile wallet. Previously, Magic Eden planned to release a token called NFT, but ultimately decided to stick with the existing brand. The launch of the ME token is intended to expand Magic Eden's ecosystem, not just limited to the NFT market, but will also support a wider range of cryptocurrency trading functions. The ME token will be managed by the renamed ME Foundation and will gradually be promoted on multiple blockchain platforms.