[Magic Eden Announces Allocation of 30% of Secondary Market Revenue for ME Token and NFT Buybacks] NFT marketplace Magic Eden announced on the X platform that starting today, 30% of secondary market revenue will be allocated for buybacks; 15% will be used for on-chain ME token buybacks, and another 15% will be used for NFT buybacks, prioritizing NFT collections on the Solana chain. Regarding the NFT buyback mechanism, if a certain NFT achieves a trading volume of 10,000 SOL on Magic Eden, 15% of the fees generated from that trading volume will be used to buy back the relevant NFT on Magic Eden. The buyback process will be automated, so as soon as sufficient fees are generated to purchase a single NFT, the buyback will be executed immediately. This mechanism will be rolled out across all chains in the coming weeks.