Magic Eden Launches New Program Rewarding Users With NFT Token


Magic Eden, the prominent cross-chain NFT marketplace, is undergoing a major transformation. The company announced on Monday that it will open-source its minting and trading protocols in collaboration with a new Non-Fungible DAO. This move is part of Magic Eden's broader strategy to decentralize its platform and empower the NFT community.

In addition to open-sourcing its protocols, Magic Eden is also planning to launch a crypto token called "NFT" to reward NFT traders. The Non-Fungible DAO will distribute the NFT token to users who actively participate in the Magic Eden ecosystem, including those who use the marketplace and minting protocols across different blockchains.

Magic Eden General Manager Tiffany Huang emphasized that the NFT token will be awarded to users who engage with the protocols governed by the Non-Fungible DAO. While the specific details regarding the token launch, such as the blockchain it will be launched on and the allocation of tokens, are yet to be disclosed, Huang confirmed that users of Magic Eden's protocols will receive the NFT token.

Alongside the NFT token launch, Magic Eden is also expanding its existing Diamonds rewards program to all four blockchains it currently supports: Solana, Ethereum, Bitcoin, and Polygon. The Diamonds program provides users with rewards for completing quests and engaging with the Magic Eden marketplace. The new rewards program will be integrated to the Magic Eden wallet, which is slated to go live soon.

Huang described the Diamonds model and the NFT token drop as "parallel paths" for trading rewards, with the Diamonds program continuing indefinitely. Magic Eden aims to create a sustainable rewards system that benefits both NFT traders and the broader community.

Source : Yahoo crypto / Jan 24, 2024 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.