HOW TO USE MAGIC EDEN LAUNCHPAD
The Magic Eden Launchpad is the most Safety and most Known option to launch your NFT Collection with Magic Eden. The Magic Eden Launchpad has worked with hundreds successful projects, and your NFT Project could be one of them.
Below we will see what requirements must be met for Magic Eden to agree to launch our NFT collection and how to do it step by step. It is of vital importance to do it correctly since it can mean the Sold Out of our Collection.
IS MAGIC EDEN LAUNCHPAD WORTH IT?
If you’re here, it’s probably because you’re already familiar with Magic Eden, the largest NFT marketplace on the Solana network. This makes their launchpad have a prestige unattainable for the rest.
Of course, launching our collection on Magic Eden Launchpad will give us a lot of benefits, but we also have to take into account the parts which are not in our favor. Both will make us decide whether it is our best option, so let´s start.
✅ MAGIC EDEN LAUNCHPAD BENEFITS
The benefits are obvious, but they all stand out:
1. Our NFT Collection will win prestige and good image.
2. We will reach more potential investors for our Project.
3. The Mint will be more safe for investors and for us
4. We will not need to hire a programmer for mint function.
❌ CONS OF LAUNCHPAD MAGIC EDEN
All positive parts also have negative one, so we need to take this on account:
1. The ME launchpad is so exclusive it is really difficult that they accept us.
2. Magic Eden takes a 10% commission from Mint Funds and from Royalties.
3. They just provide the mint solution, the rest should be done by us.
Once this has been analyzed, it is time to strike a balance and decide what is most convenient for our project. We must not become obsessed with the Magic Eden launchpad, since we have many other options that are more than valid and with which we can also be very successful.
For example, you can make your own mint site, for which we can help you throughout the process. Contact us here if you’re interested in our help getting you sold out!
Also, please note that if you are not accepted on your launchpad, you can also list your NFT collection on ME Marketplace by minting through other means.
MAGIC EDEN LAUNCHPAD REQUIREMENTS
It is known by all that being accepted to use the Magic Eden Launchpad is very difficult, so we must take into account different requirements. In addition,there are more and more big projects, so the competition makes it even more difficult.
Even so, we can talk about different requirements to meet so that Magic Eden accepts that we use its launchpad, although they are not specifically described by them:
1. Own a Big Community on Discord and Twitter:
Discord and Twitter are the most important Social Media for a NFT Project, so Magic Eden will check it carefully to ensure they should launch with our Collection.
2. Use attractive and original designs:
As a culminating point, we must have an attractive proposal at first sight. It is the first thing that will enter the eyes, so this will put the reviewers in our favor.
3. Own a good Website:
The website is the front of your NFT project. Keep this in mind and make it shine for your visitors, especially for Magic Eden.
4. Long-Term Roadmap:
As we’ll discuss later, Magic Eden receives 10% of your collection’s royalties when you use its Launchpad. For this reason, they are not only looking for a successful mint, but they also want their launches to have a great projection for the future. Create an attractive and distinctive roadmap with long-term ideas.
You should also keep in mind these points highlighted in a blog post about “creators they love” for Launchpad. The following key points stand out: Dedication, a clear roadmap with a vision of the future and focus on the community.
FEE LAUNCHPAD MAGIC EDEN
As we have mentioned before, a very important factor when choosing a launchpad is the commissions and the same goes for Magic Eden.
A nivel de fees no es uno de los launchpad con más Royalties, pero también es importante que obtienen un porcentaje de los royalties.
Las comisiones del Launchpad de Magic Eden son de un 10% tanto del Mint como de los Royalties en el mercado secundario.
Por este motivo es determinante tenerlo en cuenta y valorarlo como merece, en función del éxito que esperamos y las necesidades de nuestro proyecto.
HOW TO APPLY FOR MAGIC EDEN LAUNCHPAD
To start applying to the Magic Eden launchpad in our NFT Project we will need to go to their website and in the left navigation bar search “creators” and “apply for launchpad”.
When we click, we go to this form. We should fill it with detailed information to use their launchpad.
When we start, they request really basic info; the project´s name, Twitter link and followers quantity. They also ask if our collection is derivated from other collections.
Vemos que nos comienzan pidiendo datos muy básicos; el nombre del proyecto, link al twitter del proyecto y los seguidores de la cuenta, nos preguntan si nuestra colección es derivada de otra.
After this, the key questions for approvement begin; The date of the mint (if we look closely, they usually make a mint a day), the price of the mint and the supply of the collection. They also include a question about in which point the art is.
We continue with other very important issues; ID to contact us by discord, link to our discord server, link to our website, Instagram, LinkedIn and any other useful links to add, along with an email. These are very important points as they will manually check all of them to make sure they have a successful launch.
Then they continue with two questions that we need to get our wits about, asking us to describe the project’s long-term goals and what makes our NFT Project unique. A good answer here can make the difference between whether they accept us.
In addition, they also require us to tell them about the development team behind our collection, which in the end, will make our collection work or not.
We continue with partnerships and investments, which we must detail so that they value part of the potential that the project will have based on these issues.
As almost last points, we have a whitepaper and a roadmap. It is already important to have them for investors, but if we want to use the magic eden launchpad even more. They themselves confirm that it is one of the parts they most take into account.
They also ask us for more information about art for obvious reasons. From SolKing we recommend that you make your collection with original art.
To finish, they ask us how long it will take to deposit the funds and ask us for some extra requirements such as doxing, KYC, agreements, etc.
Once we fill in all the fields, all that remains is to press the “submit” button and wait for Magic Eden’s answer.
The review time is variable; of course, it depends on the demand at the specific time. We have to bear in mind that if they get a positive response, they will contact us, if they reject us they can notify us or not give an answer.
FAQ MAGIC EDEN LAUNCHPAD
Using Magic Eden Launchpad is Free. You just need to reach their requirements. They will only get a 10% fee of Mint and Royalties.
The Magic Eden Launchpad Comissions are 10% from Mint and Royalties.
Magic Eden does not have public minimum Requirements. But we recommend to have a big community to get their attention.
There is not a fixed revision time, it depends on the demand. But if they do not answer you in 1-2 weeks means that they have declined us.
Yes, you can apply another time, but they usually continue declining your application. We recommend to apply when we have a really big community.
To conclude all this amount of information, I think we should clarify the following points.
Using the magic eden launchpad is a guarantee of security and success that we will not have otherwise. At the same time, we have to balance the opportunity cost of using it both in the short and long term against the solutions they offer.
We can also help you create your own mint and some utilities for your holders, check your options and make your choice!