On September 16, the annual ceremony of FAT Awards 2024 was grandly opened at the Conrad Hotel in Singapore. FAT is a ranking ceremony + summit forum brand founded by Odaily Planet Daily in 2020, aiming to reward the leaders and innovators of Web3 and the crypto industry, and focus on value paradigms and consensus moments. In 2024, when the crypto industry is changing with each passing day and narratives are recognized by the mainstream world, fresh narratives are surging, the ecology is flourishing, and high-quality projects are launched one after another. Odaily Planet Daily once again opened the FAT list selection and held an offline ceremony.
At the event, ME Foundation Director Matt Szenics gave a speech on the concept and vision of the ME token.
Matt said that in the eyes of the ME Foundation, multiple blockchains will usher in huge growth in the economic system, and they hope to help 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 layer or application layer, and spans multiple ecosystems. Magic Eden will care about the needs of users in different parts of all stacks and help users interact at the bottom or top level.
Matt also mentioned that they hope that the ME token can enable different use cases on various chains. The foundation will release more information to the public in the next few months, so stay tuned.
The following is the full text of Matts live speech, edited by Odaily Planet Daily, enjoy~
First of all, let me ask you a question: how do you view the development of the on-chain ecosystem? In our opinion, first, the on-chain economic system will become very large; second, we believe that users will need a cross-chain trusted home and grow with it.
We expect that there will be huge growth in the economic system across multiple blockchains, so we want to help that growth where we are interested. Currently, most projects only focus on a single scenario on a single chain, but we focus on the entire identity layer or application layer, spanning multiple ecosystems. We will care about the needs of users in different parts of all stacks and help users interact at the bottom or top. This is what our protocol is trying to build, and we are essentially an attention protocol.
Today, the industry has 20 million users, and we believe we need to be at the level where users attention is.
Our protocol started with Solana and has gradually expanded to multiple blockchains, which is why many people know us. Today, our platform has over 3.4 million addresses, a total transaction volume of over $6 billion, and processes 65% of the NFT revenue in the industry.
From a technical perspective, Magic Eden is the largest DApp in the Bitcoin ecosystem, processing 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 will soon be popularized to more users.
Magic Eden has built a wallet tool and you can already download the alpha version. This is a cross-chain version of the wallet, and you can access all assets on multiple chains through a single wallet.
Our partner Magic Eden is focused on building a variety of different use cases. They started with NFT trading, and later developed a lot of protocols around minting scenarios, and also added other use cases.
What is the vision of the ME token? We hope that the token can enable all use cases on all chains, including transactions, minting, engraving, management, etc. We will announce more information to the public in the next few months, so stay tuned.
