Magic Eden, a leading NFT marketplace in the Solana network, has recently unveiled a new cross-chain rewards initiative, aiming to incentivize activity across Solana, Bitcoin, Ethereum, and Polygon. The marketplace is also set to make their token launch and trading protocols publicly available through a partnership with Non-Fungible DAO, further enhancing their platform’s capabilities.
Expanding the Ecosystem with Rewards
The rewards program is tailored to benefit all participants of the Magic Eden marketplace, including investors, collectors, and creators. Participants can earn ‘Diamonds’ – a point-based reward system – through their transactions and interactions on the platform. However, specifics on the redemption or conversion of Diamonds into tokens remain undisclosed.
Magic Eden’s General Manager, Tiffany Huang, hinted in an interview that users engaged with Magic Eden’s protocols might receive NFT tokens from Non-Fungible DAO. The Diamond program, which was first introduced for Solana users, is experiencing a resurgence with a retroactive drop for early supporters since February 2, and the opportunity to earn Diamonds continues until March 3.
Maximizing Diamond Earnings
Diamonds are allocated daily, with the quantity varying based on a user’s proportion of total daily activity. On days of higher platform traffic, individual Diamond earnings may be less. Magic Eden has shared strategies for users to boost their Diamond accrual, outlined in a series of blog posts.
Engaging with the marketplace by purchasing, listing, or making offers on NFTs is the primary method for earning Diamonds. Additionally, larger NFT purchases and sales listings that are priced close to the base price of a collection can significantly increase Diamond earnings, rewarding users for their active participation and contribution to the marketplace’s liquidity.