Magic Eden, a cross-chain non-fungible token marketplace platform, announced plans to expand its recently launched Diamond Rewards program to Ethereum non-fungible token holders. Now, the highly anticipated incentive program expansion is scheduled to launch next month.
Magic Eden expands rewards program to ETH NFT holders
In a February 22 blog post, Magic Eden confirmed plans to expand its diamond rewards program to investors holding a collection of Ethereum-based non-fungible tokens. The highly anticipated NFT incentive program is currently scheduled to launch on March 13, 2024.
ETH OG prepares your wallet.
Diamond Claim 03.13. pic.twitter.com/YwPHtSkoAb
— Magic Eden 🪄 (@MagicEden) February 22, 2024
Launched in 2021, Magic Eden is a digital asset marketplace platform that allows users to discover, trade, and create collections of non-fungible tokens. Magic Eden initially started as a Solana-based NFT market platform, but has since expanded support to other blockchain networks such as Polygon, Ethereum, and Bitcoin.
Since its founding, Magic Eden has grown into one of the largest NFT marketplaces with over 8,000 collections, approximately $1.9 billion in secondary trading volume, and over 22 million monthly unique visitors. In June 2022, Magic Eden raised $130 million in a Series B round, giving it unicorn status. At the time, the market value of the NFT marketplace was approximately $1.6 billion.
Magic Eden Diamond Rewards Program Description
Magic Eden launched a diamond rewards program for Solana NFT holders late last month. The number of Diamond Tokens earned will determine the number of rewards and future airdrop amounts. The NFT marketplace has also determined the amount of diamond airdrops based on user activity since the beginning of the marketplace.
Introducing Magic Eden Rewards
Over the past year, we have designed a long-term cross-chain NFT rewards program built for everyone. This is not just a points campaign. It’s a carefully designed plan to give back to Magic Eden’s OGs, collectors, creators, and Degen alike… pic.twitter.com/RQkJpoZEvi
— Magic Eden 🪄 (@MagicEden) January 23, 2024
In this case, the more investors traded Solana NFTs on Magic Eden over the past three years, the more retroactive diamonds they received. The quantity of diamonds also varied depending on the total trading volume. NFT collectors can also maximize their diamond airdrop by purchasing a base listing on the Magic Eden NFT Marketplace.
Users can also earn retroactive diamonds by trading NFTs on the Ethereum, Solana, Bitcoin, and Polygon blockchains. Magic Eden requires users to remain 100% loyal to receive the maximum diamond bonus. Starting March 13th, all Ethereum NFT holders will be able to claim Diamond tokens.
Magic Eden rewards OG ETH NFT traders.
A big win for those who missed the early Solana and BTC NFT action.
ME Diamonds appear to be trading around $0.05, although volume is currently very low. https://t.co/WmIQSnQsMj pic.twitter.com/WMgKVwkJZc
— TylerD 🧙♂️ (@Tyler_Did_It) February 22, 2024
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