NFT Creators In Magic Eden Will Accept Incentives

Magic Eden launched a royalty program for NFT creators. (Photo; Doc. NFT Evening)

JAKARTA Blockchain-based digital art, NFT (Non-Fungible Token), has attracted public attention since its appearance in 2021. Now interest in NFT is starting to fade along with the loss of incentives or rewards for creators. A number of NFT marketplaces including OpenSea have removed the incentive program.

However, there are also other NFT marketplaces that provide incentives to creators. One of them is the NFT trading platform, Magic Eden. This platform launched incentive features for NFT creators, especially those who are involved in the Magic Eden ecosystem. Not only that, Magic Eden also plans to launch a reward program or reward for creators on the Solana network.

The plan, Magic Eden will launch this program starting February 2, 2024 through the Retroactive Diamond Drop program which will calculate all creator activities from 2021. The year Magic Eden was just launched. At the same time, marksteplace users are also advised to use the NFT marketplace every day rather than just buying tickets to increase the opportunity to achieve rewards.

Magic Eden CEO, Jack Lu, is a figure who supports providing incentives to NFT creators from the marketplace. According to Lu, the royalties program for NFT creators will be commonplace in this industry.

Magic Eden not only released a royalty program, the NFT trading platform will also launch the digital wallet Magic Eden Wallet. This digital wallet will serve as a royalty prize storage area from the platform. That way, NFT trading companies will easily send prizes in Diamond form by sending them directly to Magic Eden Wallet.

You will get Diamond [when] you use Magic Eden more often, then you will get NFT [when] you often use Magic Eden," said General Magic Eden, Tiffany Huang.

Even so, Huang explained there is no direct correlation between Diamond and tokens. Both are [parts] of separate programs.

Launching Coingape, Magic Eden seeks to achieve its long-term achievements by becoming 100 percent open source with IP managed by the community. However, until now there is no more detailed information regarding the allocation of these tokens.