What is Magic Eden? 🪄
Being funded by top-tier venture capitalists like Paradigm and Sequoia — Magic Eden is currently the best and most used NFT platform on the Solana blockchain. It’s pretty much Solana’s OpenSea.
What are the fees for listing? 💰
Besides the Solana transaction fees which are so cheap in the first place, it costs zero in fees to list on Magic Eden.
What are the fees for selling? 🤑
Once you make a successful sale, there will be a 2% fee cut for Magic Eden, on top of the artist royalty fees of the NFT collection (which mostly range between 2% and 10%).
You can check a project’s artist loyalty fees by viewing any NFT from any NFT collection, and looking at the Details section.
What are the gas fees? ⛽️
Since Magic Eden is on the Solana blockchain, almost every transaction is going to be extremely cheap in terms of gas fees (fractions of a cent). Unlike on Ethereum whereas it can cost you a few dollars up to a hundred dollars depending on how congested the Ethereum chain is.
