Magic Eden to Trial TestME Token, Urging Caution on Trading

Popular NFT marketplace Magic Eden is preparing to launch a test token called $TestME, intended strictly for evaluating technical capabilities rather than trading.

Set to be available for a limited two-day period, $TestME allows Magic Eden to assess its digital wallet functions before the eventual release of a governance token.

Users are advised that $TestME has no market value and is designed exclusively for internal testing.

Source: Magic Eden

What is TestME?

The $TestME token, launching this Tuesday, serves as a technical trial run for Magic Eden’s wallet infrastructure.

This trial will allow the platform to test the process of token distribution and address any technical issues that may arise.

Unlike the upcoming $ME governance token, $TestME carries no voting power or trade value; it’s purely intended to assess the wallet’s functionality.

Who can claim TestME?

Only users who have interacted with Magic Eden in the past six months and who have the Magic Eden Wallet are eligible to claim the token. Additionally, Magic Eden has restricted this trial to certain regions, excluding users in the U.K. and U.S.

The two-day window is intended to allow for a straightforward, limited rollout that enables both user participation and platform oversight of the wallet’s functions.

To check eligibility, users are encouraged to visit the ME Foundation’s website, where you will be able to view your status. If eligible, you can proceed to claim $TestME through the Magic Eden mobile claim experience following the instructions provided.

Technical Purpose and Restrictions

The $ME token, scheduled for release at a later date, will empower users to participate in Magic Eden’s governance.

This governance model aims to involve users in the platform’s decision-making processes, offering dedicated members a voice in shaping its future.

$TestME, though temporary, is a preliminary step toward this goal, allowing Magic Eden to prepare technically and logistically for a governance-driven structure as it broadens support across various blockchains, including Ethereum and Bitcoin.