Magic Eden, Solana’s leading NFT marketplace, has announced an initiative to reward active users. These will benefit from discounts and free NFTs depending on their activity on the platform. Magic Eden Rewards is a project to enhance the engagement of platform users. Magic Eden has made changes before to better engage its community, including the creator royalty system.
A system of discounts and rewards for users
Magic Eden is the largest NFT marketplace by sales volume. She announced the establishment of a rewards system. It’s about ” Magic Eden Rewards “. This system will allow users to receive rewards. But not only that, there are also discounts and various benefits depending on their activity on the platform. Thus, it was officially launched on December 14.
This initiative is in line with Magic Eden’s objectives to strengthen user engagement on the platform. The Solana market has also implemented a copyright protection system for creators. It has hired Chris Akhavan, a Chief Gaming Officer, to develop web3 game sales on Magic Eden. In October, Magic Eden switched to an optional royalty model, causing a drop in trading volume.
How it works ?
Now users can get different benefits through Magic Eden Rewards. The program spans five tiers of rewards with each point earned based on the amount of Solana (SOL) spent in the market. Thus, a traded SOL equals five points. According to the company, each higher tier earns greater benefits, including deeper discounts and access to NFT rewards.
Users holding multiple Solana wallets can link them to a single Magic Eden account to maximize rewards. This initiative is an opportunity to engage the Magic Eden community in new ways. The company’s CEO, Jack Lu said that they strive to bring innovations that go beyond the simple transactional level.
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