On February 3, Magic Eden launched a "rewards program" to distribute diamond airdrops to users who have used the Phantom or Phantom List On ME functions on Magic Eden, and new users can also participate in diamond tasks to obtain diamonds. The deadline for claiming diamonds is 3:00 a.m. on March 4, Beijing time.
Magic Eden’s rewards program will be cross-chain and retroactive, rewarding historical activities on the platform, and holders of Magic Tickets will also receive rewards. Magic Tickets is a series of NFTs that grant access to MagicDAO.
Previously, Magic Eden’s official documents have confirmed that there will be $NFT tokens. It can be speculated that the diamonds obtained by users may be converted into NFT tokens later. The airdrop criteria for NFT tokens may involve three aspects, including the total NFT transaction volume, loyalty score, and the number of diamonds collected, and the latter may be the main criterion.
Magic Eden is the largest NFT market on Solana. According to the Magic Eden official website, its total transaction volume is 60,778,748 SOL, and the number of traders exceeds 800,000. Since then, Magic Eden has also deployed multiple public chains such as Ethereum and Polygon, and recently launched the Bitcoin ecosystem NFT market.
From the financing background, in March 2022, Magic Eden completed a financing of US$16.9 million, with investors including Sequoia Capital, Paradigm, Greylock, etc. Then on June 22, Magic Eden announced the completion of a US$130 million Series B financing at a valuation of US$1.6 billion. This round of financing was led by Electric Capital and Greylock, and new investor Lightspeed Venture Partners also participated with previous investors Paradigm and Sequoia Capital.
On this basis, Magic Eden is still being updated. In addition to the new incentive plan launched this time, it will also contribute to the community organization Non-Fungible DAO, which is committed to promoting the adoption and development of NFT, and NFT tokens will be launched by DAO in the future. The core of this reform is to achieve the unification of the market and user experience, as well as a more powerful business model through NFT tokens and Magic Eden wallets.
Related reading: "Magic Eden's ambition and vision: unifying the NFT multi-chain market and planning the possibility of issuing coins with DAO"
Although there are many similar reward schemes emerging in the market, the update of Magic Eden is not limited to the reward itself, but also involves the unification of its NFT market on multiple chains such as Solana, Bitcoin, Ethereum and Polygon, and the open source of smart contracts. BlockBeats has sorted out the tutorials for obtaining possible airdrops for readers' reference only.
Register Magic Eden Wallet
On January 30, Magic Eden announced the official launch of its multi-chain wallet product, with features including: 1. Instant cross-chain swaps 2. NFT portfolio management 3. Native Ordinals and BRC20 support 4. End-to-end rare satoshi management.
It is worth noting that only those who have used the Phantom or Phantom List On ME function on Magic Eden are eligible to receive the diamond airdrop directly, and registering a Magic Eden wallet and using it to interact with Magic Eden is to obtain the remaining rewards promised by the official. For example, Magic Eden will release free mints from NFT projects such as Claynosaurz, Degenerate Ape Academy and BoDoggos in the wallet in February, and it can also increase the chance of mint whitelisting, etc.
Open the download page and add the Magic Eden wallet to the Google Chrome extension. After downloading, open the wallet extension and click "Create New Wallet".
Enter the same password twice as prompted and click "Continue" to proceed to the next step.
Click the yellow text at the bottom of the wallet page and enter the password set in the previous step to obtain the 12-digit mnemonic. After backing up the mnemonic, 4 words will be randomly generated. After selecting the word that repeats your mnemonic, the wallet will be successfully created.
Interacting with Magic Eden
Go directly to the Magic Eden official website, or click "Visit Magic Eden" on the Magic Eden wallet homepage. After connecting the wallet, click "Sign" to confirm the signature and start trading.
Click the diamond icon in the upper right corner of the official website page.
After jumping to the new page, click "Claim Diamonds" to claim the diamond airdrop.
For new users of Magic Eden Wallet, diamond rewards can currently be obtained through three other tasks, namely Buying, Listing, and Collection Offers.
Among them, Buying means that you can earn diamonds by purchasing local NFTs on Magic Eden. The more you buy, the more you earn. Listing means earning diamonds by listing NFTs. The more likely they are to be sold, the more diamonds you earn. Collection Offers means earning diamonds by providing collection offers and getting extra rewards by providing greater liquidity.
In the Buying task, click "Start Buying", select a collection from the list, select the NFT to buy or click "Buy Floor", and confirm the transaction in your wallet. In the Listing task, open the homepage, select the NFT you want to list, enter the price, and click "Submit Listing".
The number of diamonds directly affects the NFT airdrop. However, don't forget to pay attention to your loyalty score to ensure it remains at 100%. The loyalty score is calculated based on the user's transaction behavior in Magic Eden in the past 6 months, and the user can see the loyalty score in the personal reward center.
