Magical Eden is asking ME Token and its users not to trade it.

Magic Eden may require users to use its digital wallet to claim a token called TestME Tuesday—but the NFT marketplace is encouraging diggers to keep it.

This is because the TestME token, as its name suggests, is intended to be a testing process and prerequisite for the Magic Eden Foundation's governance token. That token, rebranded as ME earlier this year, has yet to be assigned a specific release date.

Magic Eden Foundation's companion NFT marketplace will launch on Tuesday as a bare-bones token to flex its technical muscles. Although the company is encouraging users claim If you can, the token also warns users not to assume what is intended to be a one-time display.

The token will not serve as the NFT marketplace management token it originally was. They were teased in January. Instead, the effort is paying for a test run of the Magic Eden Wallet, which will be used when the management token is later released.

The cross-chain NFT marketplace has since moved closer to its digital wallet offering. Released In November. Supporting fungal symptoms, product priority is linked to this. Push the magic Eden In the year Beyond digital collections in 2021 and 2022 as the NFTs market moves further away from its bubble days.

Users who wish to claim TestME will need an NFT Marketplace wallet, according to Magic Eden by A Blog post. Residents of the United Kingdom and the United States are excluded from participating in the planned rollout.

TestME's claim window will last two days, allowing users to “get comfortable with the process of claiming tokens,” Magic Eden said. Additionally, those two days will give Magic Eden a chance to iron out any technical issues.

Noting that the token has no “intrinsic value,” Magic Eden said it only acquired the token for testing purposes and “discourages the token business.”

However, TestME can probably see some of the movement that mirrors similar to other projects.

MockJUP, a token released by decentralized exchange aggregator Jupiter in January to test its launchpad, briefly became a pseudo-meme coin. It ultimately lacked long-term support, but some early traders cashed in on the Solana token, ahead of the expected, actual JUP airdrop.

Magic Eden says the TestME distribution will be limited to those who have engaged with the platform in the past six months. And while users need a Magic Eden Wallet to claim TestME, the company says other types of wallets can connect to it to ensure the user has recently worked with Magic Eden services.

While Magic Eden entered the NFT market on Solana, the company added support for several other chains, including Bitcoin and Ethereum. Still, the company sees Solana as the core of its business, Solana token trading is planned for the platform.

Originally, it was a symbol of the management of the Magic Eden Foundation. Called NFT. However, the foundation decided to keep the Magic Eden branding attached to the property while the platform expanded to support a version of Bitcoin-based fun tokens called Runes.

More details regarding the Magic Eden Management Token, allowing holders to vote on the platform's direction, will be released following TME's release. Meanwhile, Magic Eden CEO Jack Lu shared details about his vision for ME's final role.

“$ME does.” […] It serves as an incentive layer to continuously help, engage and reward all Magic Eden users He wrote Earlier this month, Twitter (pronounced X) added the token, saying: “Integration will also reward long-term users.

As the Magic Eden Foundation moves forward with its management simulation plans, TestME could be just one step in a long technical process. At the same time, barebones tokens can create some buzz — and eager wallet users — for what's to come.

Edited by Sebastian Sinclair.