On September 16th, the "FAT Awards 2024" annual ceremony grandly opened at the Conrad Hotel in Singapore. "FAT" is a list awards ceremony and summit forum brand founded by Odaily Star Daily in 2020, aiming to commend the leaders and innovators in the Web3 and crypto industry, focusing on value paradigms and consensus moments. In 2024, as the crypto industry is rapidly changing and the narrative becomes mainstream, with fresh narratives emerging and a variety of high-quality projects being launched, Odaily Star Daily once again initiated the FAT list selection and held an offline ceremony.
At the event, ME Foundation Director Matt Szenics delivered a speech on the concept and vision of the ME token.
Matt stated that in the view of the ME Foundation, multiple blockchains will experience significant economic growth, and they hope to contribute to this growth in areas of their interest. Currently, most projects only focus on a single scenario on a single chain, but Magic Eden focuses on the entire identity or application layer, spanning multiple ecosystems. Magic Eden cares about the needs of users in different parts of all stacks and helps users interact at the bottom or top layer.
Matt also mentioned that they hope the ME token can empower different use cases on various chains, and the foundation will disclose more information to the public in the coming months, so please stay tuned.
The following is the full text of Matt's on-site speech, edited and organized by Odaily Star Daily, enjoy~
First, let's pose a question: How do you view the development of the on-chain ecosystem? In our view, firstly, the on-chain economic system will become very large; secondly, we believe that users will need a cross-chain trust home and grow with it.
We anticipate that multiple blockchains will experience significant economic growth, so we hope to contribute to this growth in areas where we are interested. Currently, most projects only focus on a single scenario on a single chain, but we focus on the entire identity or application layer, spanning multiple ecosystems. We care about the needs of users in different parts of all stacks and help users interact at the bottom or top layer. This is what our protocol is trying to build, fundamentally we are an attention protocol.
Today, the industry has 20 million users, and we believe we need to be at the level of user attention.
Our protocol started on Solana and gradually expanded to multiple blockchains, which is why many people know us. Today, our platform has over 3.4 million addresses, with a total trading volume exceeding 6 billion US dollars, and the NFT revenue it handles accounts for 65% of the entire industry.
From a technical perspective, Magic Eden is the largest DApp in the Bitcoin ecosystem, handling 80% of Ordinals and Runes transactions.
Why are we so optimistic about the Bitcoin ecosystem? Because it is the ecosystem with the largest value scale and development potential today, and it is about to be popularized to more users.
Magic Eden has built wallet tools, and you can already download the alpha version. This is a cross-chain version of the wallet, where you can access all assets on multiple chains through a single wallet.
Our partner, Magic Eden, focuses on building various use cases. They started with NFT transactions, later developed many protocols around the minting scene, and added other use cases.
What is the vision of the ME token? We hope that the token can empower all use cases on all chains, including transactions, minting, engraving, management, and more… We will disclose more information to the public in the coming months, so please stay tuned.
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