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Magic Eden Trials A new loyalty rewards program
Magic Eden, the leading Solana-based NFT marketplace, has recently announced the launch of its new loyalty rewards program called “Magic Eden Rewards.” The program rewards users for interacting with the platform. It gives them benefits such as partner discounts, creator discounts and access to NFT gifts.
Magic Eden Rewards Program: What You Need to Know
Users create a profile to be used across all wallets and earn “Magic Points” through secondary trading transactions on the platform. For every 1 SOL traded, users earn 5 “Magic Points”, placing them in one of the five loyalty levels. These tiers act as a ranking system that awards users different benefits based on their points. The higher the loyalty level, the greater the discounts and benefits received.
In addition to rewarding NFT buyers, Magic Eden also plans to offer dynamic fee pricing to its tiered structure. Therefore, transaction fees paid by creators and users depend on market activity and distributed between buyers and sellers. The aim of these initiatives is to stimulate engagement and encourage NFT traders to use the innovative cross-chain marketplace.
Magic Eden constantly changed and adapted its royalty and rewards infrastructure. Earlier this month, it released the “Open Creator Protocol,” which protects NFT creator commissions when their products are sold on the secondary market. This represented a major shift from the previous optional creator royalty model. Through the new update and the Magic Eden Rewards program, the platform aims to reward not only those who create the NFTs, but also the vital traders who use the platform.
There are 5 different levels for the Magic Eden Rewards Program
Image credit: Magic Eden
How to join the Magic Eden Rewards Program?
To join the Magic Eden Rewards program, users simply need to log in and connect to their wallet. Wallets connected under one username are private and not visible to the public. The first loyalty level of a user is determined by the highest level they reached in either November or December. It’s important to tune in this week, as the first rewards will be rolled out before the end of the year.
Image credit: Magic Eden
What can we expect to see in the future with Magic Eden?
The Magic Eden Rewards program is still in beta and will continue to evolve in the future. The platform’s vision is to create a community where creators and collectors can connect and collaborate through programs like this rewards initiative. Magic Eden wants to provide a place where creators can offer perks, discounts or free NFTs to the community through fun airdrops and other ways to engage.
In conclusion, the Magic Eden Rewards program is a great opportunity for users to reap the benefits and be a part of the exciting developments taking place on the platform. By joining the loyalty program, users can claim rewards from ecosystem partners and creators, earn Magic Points based on their Magic Eden activity, and enjoy progressively larger fee discounts based on their points. The program also allows creators and collectors to collaborate and build a community on the market. Don’t miss this chance to become part of the Magic Eden community and start earning rewards today!
