The popular NFT marketplace within the Solana ecosystem, Magic Eden, recently announced the launch of a cross-chain rewards program designed to encourage the use of Solana, Bitcoin, Ethereum, and Polygon. In addition to the rewards program, Magic Eden also revealed plans to make token launch and trading protocols open-source through a new collaboration with Non-Fungible DAO.
What’s Next for Magic Eden?
According to the Magic Eden team, the rewards program is designed to benefit NFT investors, collectors, and creators. Users in the Magic Eden marketplace can earn points called Diamonds. Magic Eden has not provided any information on what the Diamonds points can be used for or if they can be converted into tokens.
However, Magic Eden General Manager Tiffany Huang recently stated in an interview that people using Magic Eden’s protocol are likely to receive the NFT token launched by Non-Fungible DAO. Magic Eden’s Diamond program, initially launched for Solana, is making a comeback to Solana OGs with a retroactive drop available since February 2. The demand for Diamonds will remain open until March 3.
Noteworthy Details About the Points System
Points will be distributed daily, and users can earn an undisclosed amount of Diamonds each day. The amount of Diamonds earned depends on the percentage of total daily activity the user participates in, so on days with high traffic, users may earn fewer Diamonds than usual.
Fortunately, Magic Eden has provided key tips on how users can maximize their potential to earn Diamonds. The team recently published three blog posts on their website summarizing the program. According to the team, the primary way to earn Diamonds is simply by buying, listing, or making collection offers on NFTs. There are also a few other ways to increase Diamonds points.
When it comes to purchasing NFTs, larger purchases earn more Diamonds. In terms of sales, users can earn Diamonds as long as their listings are active, but they can earn more Diamonds depending on how close their listings are to the base price of the collection. The closer a listing is to the base price, the more Diamonds points they receive.
