Magic Eden might want users to claim a token called TestME Tuesday using its digital wallet, but the NFT market encourages degens to rule it out.

That’s because the TestME token, as the name suggests, is intended to be a trial run and a precursor to the Magic Eden Foundation’s governance token. That symbol, rebranded as ME earlier this year, has yet to be assigned a specific release date.

The Magic Eden Foundation will launch the bare-bones token on Tuesday as a way for the associated NFT market to flex its technical muscles. Although the company encourages users to Claim symbol, if they can, also cautions users against speculating about what is intended to be a one-of-a-kind showcase.

The token will not serve as the governance token of the cross-chain NFT market, which it was initially teased in January. Rather, the endeavor is being billed as a test run for the Magic Eden Wallet, which will be used when the governance token is later released.

The cross NFT market has leaned heavily on its digital wallet offering since then its release in November. Supporting fungible tokens, product prioritization coincided with The push of Magic Eden beyond digital collectibles as the NFT market moves further away from its frothy days in 2021 and 2022.

Users who want to claim TestME will need the NFT market wallet, Magic Eden said in a blog post. UK and US residents are excluded from participating in the launch.

The TestME claim window will last two days, allowing users to “get comfortable with the token claim process,” Magic Eden said. Additionally, those two days will give Magic Eden a chance to check for any technical issues.

Citing the token’s lack of “intrinsic value,” Magic Eden said it adopted the token for testing purposes only and “discourages trading of the token.”

However, TestME will likely see activity that mirrors similar moves to other projects.

MockJUPa token launched by decentralized exchange aggregator Jupiter as a test for its launch platform in January, became a pseudo-meme coin for a short time. In the end, it was not sustained long-term, but some early traders made money on the Solana token while the degens came before Anticipated airdrop, real, JUP.

Magic Eden said TestME distribution will be limited to those who have engaged with the platform in the past six months. And while users will need a Magic Eden wallet to claim TestME, other types of wallets can be linked to it to provide proof that a user has recently engaged with Magic Eden services, the company said.

While Magic Eden entered the NFT market on Solana, the company added support for several other chains, including Bitcoin and Ethereum. However, the company considers Solana to be core to its business, with Solana token trading scheduled for the platform.

Originally, the governing symbol of the Magic Eden Foundation was set to be called NFT. However, the foundation decided to keep the Magic Eden branding attached to the asset as the platform expanded to support a version of Fungible tokens based on Bitcoin called Runes.

More details about Magic Eden’s governance token, which allows holders to vote in the direction of the platform, are to be released after the TestME launch. Meanwhile, Magic Eden CEO Jack Lu shared details about his vision for ME’s ultimate role.

“$ME will (…) serve as an incentive layer to continually help onboard, engage and reward all Magic Eden users,” he he wrote on Twitter (aka X) earlier this month, adding that “the integration of the token will also reward the most consistent users in the long term.”

As the Magic Eden Foundation moves forward with plans for a governance token, TestME may be just one step in a long technical process. At the same time, bare-bones tokens could generate buzz — and eager wallet users — for what’s next.

Edited by Sebastian Sinclair