Magic Eden Launches Trio of Innovations, Wallet, Rewards, and Open-Source

Magic Eden is revolutionizing the world of non-fungible tokens (NFTs) with the introduction of three major innovations. These developments include a new rewards program, a cross-chain wallet, and a commitment to open-source protocols, all aimed at making NFTs more accessible and rewarding for users.

At the forefront of these innovations is the Magic Eden Rewards program, now active on Solana and soon to extend to Ethereum, Bitcoin, and Polygon. This program is a standout in the NFT industry, offering universal benefits to all community members, ranging from artists to collectors. One of the most exciting features of this program is its quest system, designed to engage both new and existing users by rewarding their participation.

Magic Eden is also enhancing the NFT community through its commitment to the Non-Fungible DAO. This organization, owned and run by the community, focuses on increasing NFT adoption. Magic Eden’s contribution to this cause is pretty big, as it plans to open-source its key marketplace protocols, which span various blockchain networks. This move will support the DAO’s mission and the forthcoming launch of the $NFT token.

Another innovation from Magic Eden is the introduction of its cross-chain, self-custody wallet. Initially provided to a select group in 2023, this wallet facilitates easy cryptocurrency exchanges between Bitcoin, Solana, Ethereum, and Polygon. Designed for a seamless user experience, the wallet enables NFT holders to trade and collect across multiple chains effortlessly. With the upcoming addition of rewards, the wallet is set to become even more attractive to users. A global launch of the wallet and its accompanying desktop browser extension is planned for the end of January.

Zhuoxun ‘Zedd’ Yin, Co-Founder and COO of Magic Eden, shares his vision for the company, “At Magic Eden, we believe in making digital ownership universal. That means making NFTs, in whatever form, a ubiquitous underlying technology.” He also stresses the significance of the Non-Fungible DAO and the role of open-source software in expanding the NFT ecosystem.

Through these initiatives, Magic Eden is positioning itself as a leading platform for cross-chain collectors, committed to providing a rich and user-friendly experience. Their dedication to open-source protocols underlines their intent to foster a welcoming and innovative NFT landscape.