Magic Eden’s New U.S. Domain Draws Criticism from Crypto Community
Magic Eden, an NFT marketplace, has announced the launch of a new domain exclusive to U.S. users.
According to the announcement on September 5, this new U.S.-specific site will maintain familiar services, while the global .io domain will feature enhanced functionalities and innovations.
Today we’re announcing the new https://t.co/IX3u6TtCM1 for international users, plus https://t.co/tvWrETyYir, for users in the United States.
.US will still have great products you know and love while .IO will give us the ability to cook up (and sauté) even more features… pic.twitter.com/GKVz8fluCc
— Magic Eden 🪄 (@MagicEden) September 5, 2024
The move has sparked significant backlash from the crypto community, with many expressing dissatisfaction over the perceived separation of services. Some users voiced concerns on X (formerly Twitter), noting that popular features like airdrops might not be available to U.S. users.
READ MORE: NFT Marketplace Magic Eden Leads Market Share in August
Critics argue that Magic Eden is effectively restricting U.S. users from fully accessing its services, with some labeling the platform as “centralized.” The shift may be a response to increasing regulatory scrutiny, such as the recent Wells notice issued to OpenSea by the U.S. Securities and Exchange Commission (SEC).
One community member urged Magic Eden to be transparent about regulatory pressures, questioning whether the changes were a direct result of legal challenges.
In related news, the Magic Eden Foundation launched the ME token on August 22. This new token aims to enhance cross-chain trading and support the platform’s expansion and integration with decentralized applications (dApps). The ME token is expected to play a key role in the development of Magic Eden’s decentralized autonomous organization (DAO) protocols.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
