Magic Eden Announces Badged Collection Feature

Magic Eden, the leading Solana NFT marketplace, announced a new badged collections feature via Twitter thread late on Thursday night. 

Much like the verified collection badge on OpenSea, Magic Eden's new badges are meant to signal "trust and safety," indicating a project is authentic, significant, and in good standing. The secondary marketplace made it explicit in the announcement that badges should not be seen as project endorsements. 

While the criteria surrounding authenticity and good standing require a human assessment, in order to first be deemed significant, a project must have traded more than 5,000 SOL on the Magic Eden marketplace - the lone quantitative measure required for a badge.

How Will Collections Earn a Badge? 

Once a project trades more than 5,000 SOL on Magic Eden it is eligible to apply for a badge on the marketplace. Though 5,000 SOL is part of the volume criteria in place today, Magic Eden indicated it will revisit the volume threshold in the future should it end up being too restrictive, or too loose when identifying collections worthy of a badge. 

Projects can also earn a badge by applying through Magic Eden and showcasing coverage via reputable media sources, or evidence of verification on social media platforms or other notable web3 marketplaces. 

Last but not least, all projects that launch on the Magic Eden Launchpad will have already surpassed the level of vetting required to earn a badge. 

Magic Eden reserves the right to remove a collection's badge at any time. 

Want to apply for a badge for your project? Use the application form provided by Magic Eden. Founders that apply should expect a response in 1-2 days.

More information can be found in the full Magic Eden release.