Magic Eden lately launched a Cross-chain rewards program Which drives adoption of its common NFT market throughout Solana, Bitcoin, Ethereum and Polygon, together with alternatives related to its new multi-chain pockets.
Along with its rewards program, Magic Eden additionally lately introduced that it’s going to open supply its mining and buying and selling protocols in collaboration with a brand new non-fungible DAO. The DAO is engaged on plans to launch a token known as “NFT” that might be used to reward merchants.
In line with Magic Eden, the rewards program is designed to reward NFT merchants, collectors, and creators alike. Customers on the Magic Eden market can earn “diamonds,” or a type of factors like different current cryptocurrency incentive applications have used.
Magic Eden has not launched any details about what the diamond might be used for, or whether or not it may be recovered not directly. Nonetheless, Magic Eden basic supervisor Tiffany Huang mentioned Decryption In a current interview, individuals utilizing the Magic Eden protocol usually tend to obtain an NFT token launched by the Non-Fungible DAO.
![Photo: Magical Eden](https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2024/01/magic-eden-diamonds-gID_7.png@webp)
![Photo: Magical Eden](https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2024/01/magic-eden-diamonds-gID_7.png@webp)
As a nod to its roots with Solana, the place Magic Eden first launched its NFT market, Diamond is giving again to the “Solana OGs” with a retroactive drop that turned out there on Friday. The declare will stay open till March 3.
Factors might be distributed every day, with an undisclosed quantity of diamonds being launched every day. The diamonds you earn are primarily based on the share of complete exercise you’ve got calculated that day, so you could earn fewer diamonds than normal on busy days the place there’s numerous visitors.
Methods to earn diamonds
Luckily, Magic Eden has launched a ton of knowledge on methods to maximize your diamond incomes potential. There are three current weblog posts on their web site outlining this system, however we’ll summarize them right here.
The primary method to earn diamonds is to easily purchase NFTs, checklist them, or make collectible presents, however there are a couple of methods you may increase your diamonds.
On the subject of buying NFTs, bigger purchases earn extra diamonds. By way of promoting, customers earn diamonds so long as their itemizing is excessive – however they will earn extra diamonds primarily based on how shut their itemizing is to the underside of the set. The nearer the itemizing is to the lower cost, the extra diamonds they are going to obtain.
Affords or “bids” work equally to listings. Customers can earn diamonds by inserting group bids on any of the highest 100 teams on Magic Eden by buying and selling quantity. As with their listings, customers can earn extra diamonds primarily based on how shut their presents are to the set’s backside worth.
Some “common” units additionally obtain a 50% diamond bonus; Claynosaurz, for instance, presently has a bonus utilized to diamonds earned by interacting with the occasion through Magic Eden.
One other method to increase your diamonds is thru your loyalty factors. A loyalty rating of 100% is equal to a bonus of 100% of the diamonds generated. The diploma of loyalty itself is decided primarily based on how loyal you’re to Magic Eden. You’ll be able to increase your loyalty factors by itemizing and buying NFTs solely by Magic Eden.
Good luck mining your diamonds!