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, highlighted in a recent press release, showcases 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!
Let them sleep. pic.twitter.com/A2XT51pTHF
— Magic Eden
(@MagicEden) January 22, 2024
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 NFT collectors and creators who participate across diverse blockchains.
Open-Sourcing Tools
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.
Again, the core focus of this partnership is to advance decentralization and fortify the NFT ecosystem across multiple 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
Universal Cross-Chain Wallet
Magic Eden’s cross-chain wallet — which has been in Beta testing since late 2023 and boasts over $1.9 billion in secondary trading volume — offers a compelling alternative to wallets such as MetaMask, Rainbow, Phantom, and xVerse.
Designed for NFT collectors trading on multiple blockchains, the wallet enables swift cryptocurrency exchanges across Bitcoin, Solana, Ether, and Polygon.
Keep an eye out at the end of January, as this feature is on track to be globally accessible, promising users alluring 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 cross-chain. Stay tuned for more updates!
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
