Despite some major industry players launching rewards programs designed to attract crypto investors back into the NFT space, the non-fungible token market continues to show negative returns. The Magic Eden NFT market is a perfect example of this, with a new NFT rewards program recently launched on Solana.
In a blog post on January 23, Magic Eden confirmed the launch of a new rewards program for its NFT users. Below, we will take a closer look at how this new NFT rewards program works.
Introducing the Magic Eden Rewards Program
We spent a year designing a long-term, cross-chain NFT rewards program for everyone. This is not just another points event. This is a carefully crafted plan to give back to Magic Eden's original supporters, collectors, creators, and players.
Magic Eden Diamond Rewards Program Explained
According to the shared lightweight data, the number of new Magic Eden rewards and future airdrops is likely to depend on the number of diamonds. In order to maximize the airdrop event scheduled for February 2, users must maximize the number of diamonds. Magic Eden has already provided some information on how users can collect diamonds.
The Magic Eden NFT market will determine the number of diamond airdrops based on the user's activity since the market was founded. In this case, the more times Solana NFTs have been traded on Magic Eden in the past, the more retroactive diamonds will be obtained. The number of diamonds will depend on the total trading volume.
NFT collectors can also maximize diamond airdrops by purchasing local listings on the Magic Eden NFT marketplace, accepting offers, and trading NFTs on Ethereum, Solana, Bitcoin, and Polygon blockchains. In addition, in order to receive the maximum diamond rewards, Magic Eden requires users to maintain 100% loyalty.
Magic NFT Tickets has gained 3% in the past 24 hours.
Data compiled by on-chain data aggregator CryptoSlam.io showed that non-fungible tokens hosted on Solana, the public open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, saw transaction sales fall 6% to $8 million.
In the past 24 hours, Magic Eden NFT Tickets, a new Solana-based NFT series that allows holders to receive the much-anticipated diamond airdrop, has seen trading sales of $704,262, up just 3.53%. Trading activity suggests that the Magic Ticket NFT series has not been as well received as expected.
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