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Magic Eden

Magic Eden, a non-fungible token (NFT) marketplace, announced that it would launch a new United States exclusive domain for US users.
The Sept. 5 <a data-ct-non-breakable="null" href="https://x.com/MagicEden/status/1831772818008412314" rel="nofollow noopener" target="_blank" text="null" title="null">post</a> said that while the new US domain would continue to offer familiar services, the international .io domain would be rolling out improved features and innovations.
This announcement sparked a considerable backlash from the crypto community, some of whom feel left out due to perceived limitations on their service access.
Cointelegraph contacted Magic Eden for comment but received no response before publication.
<img alt="Magic Eden faces backlash over US service segregation" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c664-6827-77a0-865d-a770749a19fb">
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/magic-eden-dominates-nft-market-august" rel="null" target="null" text="null">Magic Eden dominates NFT trading volume, surpassing Blur and OpenSea: CoinGecko</a>
<h2 id="us-user-concerns">US user concerns</h2>
Shortly after the announcement, the crypto community took to X to express their frustration at the change in domains and service segregation.
Concerns were raised about popular features of the NFT marketplace platform, such as the fact that airdrops wouldn’t be available to US residents.
One user responded that Magic Eden was about to “restrict everyone” in the US from using its service and making money due to the NFT platform being an alleged “centralized entity.”
<figure>
 <img alt="Magic Eden faces backlash over US service segregation" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191c663-099b-75d4-87eb-07cb0759087d">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/AlphaGamer_sats/status/1831787800666239391" rel="nofollow noopener" target="_blank" text="null">AlphaGamer.Sats</a>
 </figcaption>
</figure>
<h2 id="regulatory-pressure-and-service-changes">Regulatory pressure and service changes</h2>
The core issue driving service segregation could be the recent growing regulatory pressure building within the US.
Magic Eden could be taking preventive measures<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-digital-art-nfts-opensea" rel="" target="_self" text="null"> in light of the recent Wells notice issued </a>by the US&nbsp;Securities and Exchange Commission (SEC) to the NFT platform OpenSea.
Despite this, one community member <a data-ct-non-breakable="null" href="https://x.com/maskedbulldog/status/1831790305907241218" rel="null" target="null" text="null" title="null">asked</a> that Magic Eden “give it to us straight,” asking the platform to “just say, US regulators are coming for us [...] make ur decisions accordingly.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/magic-eden-overtake-blur-leading-nft-marketplace-march" rel="null" target="null" text="null" title="null">Magic Eden passed Blur as leading NFT marketplace in March: CoinGecko</a>
<h2 id="magic-eden-foundation-token-launch">Magic Eden Foundation token launch</h2>
On Aug. 22, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/magic-eden-foundation-launches-me-token-cross-chain-trading" rel="null" target="null" text="null">the Magic Eden Foundation introduced the ME token</a> to improve cross-chain trading and to drive NFT platform expansion and decentralized application (DApp) integration.
According to a press release shared with Cointelegraph, the ME Foundation’s mission was to help develop the ME decentralized autonomous organization (DAO) protocols.
The ME token was expected to be central to Magic Eden, which plans to be the first to officially adopt it to fuel its ecosystem.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/parents-addicted-pi-network-crypto-tapper/" rel="null" target="null" text="null" title="null">Help! My parents are addicted to Pi Network crypto tapper</a>

Magic Eden faces backlash over US service segregation

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Cointelegraph

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