The non-fungible token market continues to showcase negative gains despite some key industry players launching reward programs aimed at attracting crypto investors back to the NFT sector. Magic Eden NFT marketplace is a perfect example, recently launching a new NFT reward program on Solana.
In a January 23 blog post, Magic Eden, one of the leading cross-chain NFT marketplaces servicing Solana, Bitcoin Ordinals, Ethereum, and Polygon blockchains, confirmed the launch of a new reward program for its NFT users. Below, we shall dive in-depth into how the new NFT reward program operates.
Introducing Magic Eden Rewards
We’ve spent the last year designing a long term, cross-chain NFT rewards program built for everyone. This isn’t just another points campaign. It’s a meticulously crafted plan to give back to Magic Eden’s OGs, collectors, creators, and degens alike.… pic.twitter.com/RQkJpoZEvi
— Magic Eden 🪄 (@MagicEden) January 23, 2024
Magic Eden Diamond Reward Program Explained
Based on light data shared, the new Magic Eden rewards and the amount of a future airdrop will most likely depend on the number of Diamonds. To maximize the airdrop scheduled for February 2, users must maximize the number of diamonds. Magic Eden has given out some information on how users can collect diamonds.
Magic Eden NFT marketplace will determine the amount of Diamond airdrop based on the user’s activity since the marketplace’s inception. In this case, the more you have traded Solana NFTs on Magic Eden in the past, the more retroactive Diamonds you will receive. The quantity of Diamonds will depend on the total trading volume.
NFT collectors can also maximize the Diamonds airdrops by purchasing native listings on the Magic Eden NFT marketplace, accepting offers, and trading NFTs on Ethereum, Solana, Bitcoin, and Polygon blockchains. Moreover, Magic Eden requires users to maintain 100% loyalty to receive a maximum Diamond Bonus.
Magic NFT Tickets Pump 3% In The Past 24 Hours.
Data compiled by CryptoSlam.io, an on-chain data aggregator, indicates that non-fungible tokens hosted on Solana, a public, open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications, are down 6% in trading sales volume, amassing $8 million.
In the past 24 hours, Magic Eden NFT Tickets, a new Solana-based NFT collection letting holders receive the highly anticipated Diamond airdrop, has amassed a trading sales volume of $704,262, up just 3.53%. The trading activity indicates that the Magic Ticket NFT collection has yet to receive a warm reception as anticipated.
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