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Magic Eden’s Community Service

Magic Eden, a community-focused, market-leading NFT exchange on Solana, is most famous for its flawless product experience, minimal gas fees, and unusually high trade volume ($27 million), ranking third among all NFT marketplaces, with OpenSea topping at $100 million.

Magic Eden’s Community Service iBase Trading.
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Magic Eden, a community-focused, market-leading NFT exchange on Solana (SOL), is most famous for its flawless product experience, minimal gas fees, and unusually high trade volume ($27 million). It is ranking third among all NFT marketplaces, with OpenSea topping at $100 million.

Huang, a former Marriott International Asia Pacific Brand Director, decided to join Magic Eden in early October to oversee marketing.

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NFTs Infancy Period

According to Huang, one of the hurdles in carrying out its purpose of supporting the Web3 industry is that NFTs are still in their infancy, particularly in regards to integrating women into the field.

Huang mentioned how, just last week, she took over an hour teaching a twenty-year friend how to obtain an NFT she intended to gift to her.

For those who want to enter the area but lack the necessary knowledge, resources, and competence, the Web3 and blockchain environment can be extremely scary and frustrating.

Huang describes her portfolio as a random collection of miscellaneous items. It includes sports-related NFTs, Pesky Penguins, Thugbirdz, and a decent amount of PFP projects that she has followed over time.

She went on to say that, in addition to some NFTs, she purchases others that focus more on utility. It includes the High Society (token gated entry to athletic tournaments/brands) and Shadowy Super Coder DAO (focused on Solana RPC infrastructure).

Legal Situation

As a result of complaints from the Magic Eden community, Magic Eden was first accused of allowing too many similar projects to be implemented simultaneously.

These adaptations are things Huang says Magic Eden is addressing very seriously as it attempts to integrate new initiatives into its system. Huang mentioned that Magic Eden views these adaptations critically. Since they don’t want to upset the original designers when they find another series that closely matches theirs. She said that the platform had recently jumped on a discussion with their lawyers. This is in order to grasp the community’s opinion of copycats better.

According to Huang, the community believes that copycats and good adaptations sufficiently derivatize to feel distinct.

As the legal situation continues to open up, it’s evident that the judicial systems will need to do a more satisfactory job. It can be by implementing their subjective criterion of “distinction”. What that implies for reasons of tackling the “probability of consumer misunderstanding” aspect required to prove in any infringement action.

However, judges are hesitant to rule on this. Either because they don’t wholly comprehend these dialogues. Or because they are afraid of being the “first” to come out and set a possibly new precedent. Which may be overruled.

Magic Eden’s Future

According to Huang, Magic Eden is now working on its DAO. In which it will ultimately separate for different purposes depending on where the ecosystem should be moving. Whether it’s offering better accessibility for connecting online or educating users to be wiser traders.

According to her, certain areas of Magic Eden’s website’s homepage will soon be votable as community-voted sections. She also stated that she is excited to open up the network’s marketplace to the community.

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John Rodriguez discovered crypto in 2010 and instantly fell in love with the idea of decentralization. John lives and works in Singapore where he has a successful career in publishing. John is a lover of sport and art.