Magic Eden outlines ME token buybacks and launches casino effort as revenues cited
Magic Eden says it will repurchase ME tokens and launch a crypto casino/sportsbook, with reported 30‑day revenue used to estimate the buyback size [1][2].
Magic Eden announced a token buyback policy that, based on current income levels, corresponds to repurchasing approximately $20,000 worth of ME tokens per month, according to the outlet's calculation using recent platform income data [1].
The company reported $12.8 million in transaction volume over the last 30 days and platform revenue of $267,000 for the same period, representing a 9.1% share of the NFT market; the report noted 74% of transaction volume on Solana and 25% on Bitcoin [1].
Separately, Magic Eden plans to launch a crypto casino and sportsbook called Dicey this quarter and said 15% of company revenue will be distributed back to ME token holders through mechanisms that include buybacks and staking benefits; CEO Jack Lu framed the move as positioning for a ‘speculation supercycle’ in finance and entertainment [2][4].
The announced initiatives link token-holder distributions to company revenue: based on the reported 30‑day revenue figure, the buyback as described corresponds to roughly $20,000 of ME repurchases per month, while the Dicey launch and the 15% revenue allocation are positioned as additional token-holder benefits [1][2].
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- 1Source available upon request
- 2Source available upon request
- 4Source available upon request