Foresight News reported that the Magic Eden Foundation has announced the ME Token economic model for the Non-fungible Token trading market. The total supply of ME Token is 1 billion, with over half being allocated to the community. During the Token Generation Event (TGE), 12.5% of ME will be used for the initial Airdrop (fully unlocked at TGE); 37.7% will be allocated to the community and ecosystem; 26.2% will be distributed to contributors; and 23.6% will be allocated to strategic participants. ME will be distributed over 4 years, at which point all ME will be fully circulated, with the majority allocated to the community. To ensure the community and protocol are not affected by security issues, a security committee consisting of 5 members will be appointed to oversee a Multi-signature Wallet that can execute emergency and non-emergency actions with latency. The ME Foundation will act as the manager of ME. ME holders can receive further rewards from staking.