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Today (Jan. 22), Magic Eden<\/a> made three major announcements as part of what it called, in a press release, its \u201cquest to grow the world of NFTs.\u201d<\/p>\n These are the unveiling of its new rewards program, the global release of its cross-chain wallet, and a commitment to open-source and contribute major parts of its code, including its marketplace protocols, to the new community-owned, NFT-adoption-focused NonFungible DAO<\/a>.<\/p>\n At first glance, a wallet, rewards, and open-sourcing code might seem like an unusual array of news from the rapidly growing Magic Eden. To the team, they\u2019re all part of a singular mission to expand the NFT space\u2019s adoption\u2014and market size.<\/p>\n \u201cAt Magic Eden, we believe in making digital ownership universal. That means making NFTs, in whatever form, a ubiquitous underlying technology. The opportunity is enormous, and we are realizing this vision by expanding our products\u2014the marketplace, wallet, rewards\u2014across multiple chains and ecosystems,\u201d Magic Eden Co-Founder and Chief Operating Officer Zhuoxun \u2018Zedd\u2019 Yin<\/a> said in a statement. <\/p>\n Starting today, its new enhanced rewards program is live on the Solana blockchain.<\/p>\n The rewards platform, which will also be rolled out soon to ETH, Bitcoin, and Polygon, will offer quests to reward members and include perks for collectors and creators.<\/p>\n \u201cAt Magic Eden, we believe in making digital ownership universal\u2026The opportunity is enormous, and we are realizing this vision by expanding our products\u2014the marketplace, wallet, rewards\u2014across multiple chains and ecosystems.\u201d <\/p>\n Zhuoxun Yin, Magic Eden co-founder <\/cite><\/p><\/blockquote>\n<\/figure>\n With over 100,000 daily wallet connections<\/a> to Magic Eden, according to its own statistics, the potential value of community rewards from using its platform poses a direct challenge to Blur, which has commanded the lead in marketplace ETH mainnet volume since it launched its incentive campaign.<\/p>\n To Yin, putting Magic Eden\u2019s tools behind the newly-formed Non-Fungible DAO is part of a far-sighted plan to make NFTs part of the global landscape. \u201cThis is a long-term bet, which is why we are so excited about the formation of Non-Fungible DAO and the power of open-source, community-controlled software to dramatically grow the ecosystem,\u201d he said.<\/p>\n To make the software open-source means that some of Magic Eden\u2019s core protocols\u2014including the tools and contracts that make the marketplace work\u2014will be free for anyone to use, adapt and share.<\/p>\n The Non-Fungible DAO will administer the software\u2014and aims to further the adoption and progress of NFTs via a planned $NFT token.<\/p>\n Since late 2023, Magic Eden has beta-tested its new self-custody wallet, allowing users to swap instantly between cryptocurrencies, including Bitcoin, Solana, Ether, and Polygon. Designed to provide a speedy, frictionless experience to NFT collectors trading on multiple blockchains, the wallet is the first to be directly integrated with Magic Eden.<\/p>\n The wallet, which will be available worldwide by the end of January, will also offer opportunities for its users to earn rewards.<\/p>\n With over $1.9 billion<\/a> in secondary trading volume since its 2021 founding, Magic Eden started as a Solana-focused marketplace and branched out into ETH NFTs and Bitcoin Ordinals.<\/p>\n The promise of rewards from using their cross-chain wallet could draw users away from MetaMask and Rainbow, which recently launched its own rewards campaign<\/a>, as well as from Solana wallets like Phantom and Ordinals wallets such as xVerse.<\/p>\n The post Magic Eden Reveals Rewards Program, Cross-Chain Wallet & Open Source Protocols<\/a> appeared first on nft now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Today (Jan. 22), Magic Eden made three major announcements as part of what it called, in a press release, its \u201cquest to grow the world of NFTs.\u201d These are the unveiling of its new rewards program, the global release of its cross-chain wallet, and a commitment to open-source and contribute major parts of its code, […]<\/p>\n","protected":false},"author":2,"featured_media":241057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[245,239,243,242,244,202,184,241,240,189],"class_list":["post-241056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft","tag-azuki","tag-board-ape","tag-erc115","tag-erc721","tag-metamask","tag-nft","tag-nft-technology","tag-opensea","tag-sbt","tag-soul-bound-token"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/241056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=241056"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/241056\/revisions"}],"predecessor-version":[{"id":241059,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/241056\/revisions\/241059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/241057"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=241056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=241056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=241056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}User Rewards<\/h2>\n
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Open Sourcing Magic Eden\u2019s Tools<\/h2>\n
A Cross-Chain Wallet<\/h2>\n