Magic Eden Unleashes Trio of Transformative NFT Initiatives

Today, Magic Eden unveiled a trifecta of significant initiatives to enhance its NFT ecosystem: a new rewards program, open-source development, and a global cross-chain wallet. 

Each new step highlights Magic Eden’s dedication to broadening the influence, accessibility, and advantages of NFTs — reinforcing its position as a leading secondary marketplace. 

The NFT ecosystem’s new enhanced rewards program is now live on the Solana blockchain!

Revamped Rewards Program

Magic Eden’s upgraded rewards program, now on the Solana blockchain, is set to expand its reach to encompass Ethereum, Bitcoin, and Polygon networks.

As part of its mission, the platform strives to offer quests and advantages to its members, ultimately benefiting both collectors and creators who participate across diverse blockchains.

Open-Sourcing Tools

Magic Eden aims to benefit both collectors and creators by providing quests and advantages. Recognizing the importance of decentralization for NFT adoption, it is open-sourcing its NFT protocols and contributing them to Non-Fungible DAO.

Non-Fungible DAO, powered by $NFT, is a community-owned organization with a mission to develop NFT commerce protocols. This collaboration promotes decentralization and further supports the NFT ecosystem across various blockchains.

Decentralization is essential to the global adoption of NFTs. Magic Eden will be open-sourcing and contributing all of its NFT trading and minting protocols to Non-Fungible DAO. https://t.co/5gUzwqdDnh

— Magic Eden (@MagicEden) January 22, 2024

Universal Cross-Chain Wallet

Interestingly, Magic Eden’s cross-chain wallet has been in Beta testing since late 2023 and boasts over $1.9 billion in secondary trading volume. It offers a compelling alternative to wallets such as MetaMask, Rainbow, Phantom, and xVerse, enabling swift cryptocurrency exchanges across Bitcoin, Solana, Ether, and Polygon.

Designed for NFT collectors trading on multiple blockchains, the wallet is poised to be globally available by January’s end, offering users enticing rewards.

Through each transformative initiative, Magic Eden is actively shaping the NFT landscape, competing in the market, and contributing to the evolution and perks of digital assets on-chain. Stay tuned for more updates!