🎩 Crypto’s Grand Masquerade: Jack Lu’s Supercycle Soiree 🎲

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Oh, the Audacity of Speculation! 🥂

  • Jack Lu, the impresario of Magic Eden, proclaims the dawn of a “speculation supercycle,” where finance, gaming, and entertainment waltz in a most indecent embrace. How divine! 💃🕺
  • Magic Eden, ever the generous host, shall divert 15% of its revenues to the ME ecosystem-half in buybacks, half in USDC rewards for the stakers. A gesture as grand as it is calculated. 🎁
  • And what’s this? Magic Eden abandons its NFT cradle for the siren call of Dicey, a crypto casino and sportsbook platform. Truly, the only thing more volatile than crypto is its players’ fidelity. 🎰

Ah, Jack Lu, the CEO and Co-Founder of Magic Eden, has unveiled a new token buyback program with all the flair of a Victorian dandy. “15% of our revenue,” he declares, “shall be split between buybacks and USDC yield.” And why? Because, my dear, we are entering a “speculation supercycle,” where finance and entertainment merge like a poorly mixed cocktail. 🍸

“Prediction markets are the new black,” Lu quips, “and betting is the second fastest growing industry after AI. Sportsbook sponsorships are as ubiquitous as a bad metaphor in a Wilde novel.” Oh, the horror! The sheer banality of it all! 📈

Excited to announce increasing our revenues flowing into $ME today. 15% going into $ME, split across buybacks and USDC yield.

Stepping back: we’re heading into a speculation supercycle – where finance merges with entertainment.

Prediction markets are all over Emmys and the… 🎭

– Jack (@0xLeoInRio) January 19, 2026

This proclamation arrives as prediction markets reach a fever pitch, with $814.2 million in trades placed in a single day. How quaint! The masses, ever so eager to wager on the trivial. 🤑

The Redistribution of Riches

Lu’s X post reveals Magic Eden’s grand scheme: starting February 1, 15% of all revenue shall be funneled into the ME token ecosystem. Half for buybacks, half for USDC rewards. “When Magic Eden wins,” they declare, “the ecosystem wins too.” How magnanimous! Though one wonders, who truly holds the winning hand? 🃏

Cycles change. Narratives shift. Revenue is real.

Starting February 1st, 15% of all Magic Eden revenue flows directly into the $ME token ecosystem.

The goal is simple. When Magic Eden wins, the ecosystem wins too.

That revenue is split evenly:

– 50% goes to $ME buybacks
– 50%… 🌪️

– Magic Eden 🪄 (@MagicEden) January 19, 2026

This new system, they assure us, replaces the old marketplace-only buyback program, expanding revenue sharing across the empire. Staking rewards, of course, depend on the amount and duration of ME staked. How very capitalist! 💰

Beyond the NFT Mirage

Magic Eden, once the darling of NFTs, now seeks greener pastures. Lu admits NFTs were but a “fun and degen way to trade and collect.” How passé! Now, they introduce Lucky Buy and digital packs, aiming to lure a broader audience. And Dicey, their crypto casino, promises a decentralized playground for the socially inclined gambler. 🎮

The Aftermath of the NFT Winter

All this follows the great NFT crash of 2025, where market capitalization plummeted 68%. Yet, Magic Eden claims $24 million in revenue last year. “Healthy,” they say, though one suspects it’s the health of a survivor, not a thriver. ❄️

“Cycles change. Narratives shift. Revenue is real,” they intone. How profound! Or is it merely the last gasp of a dying trend? Only time-and the fickle hand of speculation-will tell. ⏳

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2026-01-20 10:20