The non-fungible token (NFT) martketplace Magic Eden will begin sharing a part of its income with holders of the ME token.
The company said that 15% of its total revenue will go to tokenholders. Half of this amount will be used to buy back ME tokens, and the other half will be given as staking rewards in USDC.
The payout will depend on how much ME a user stakes and for how long. Tokenholders will be able to claim their USDC rewards every month starting in March.
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At the same time, Magic Eden’s co-founder and CEO, Jack Lu, shared his view that the crypto industry is entering a “speculation supercycle”.
He believes that the rise of prediction markets and betting platforms is changing how people mix money and entertainment. Lu wrote on X:
Speculation is mainstream now. And Magic Eden is building for this world.
He explained that prediction markets are now part of major events and media, while betting has become one of the fastest-growing industries in the US.
Lu also announced that Magic Eden will soon launch Dicey, a new crypto-based casino and sportsbook. The platform, expected to go live this quarter, will let users host games and place bets through a decentralized setup.
Recently, Blockchain Game Alliance (BGA) reported that blockchain gaming is entering a more stable stage after years of speculation and change. How? Read the full story.
