Magic Eden Announces New Rewards Program

Magic Eden Announces New Rewards Program

The leading Solana marketplace Magic Eden has announced a new rewards system for its users, as shared by The Block this afternoon. The Magic Eden Rewards will officially launch at 5 p.m. ET today (Dec. 14).

The rewards system will be based on trading activity on their platform, likely benefitting high-volume traders and high-price NFT buyers, though it is unclear at this time exactly what those rewards will entail. The Magic Eden team also noted that fees will be waived until 2023, and that users should expect major transaction discounts (in the 5%-45% range) when those fees are re-enabled. 

Although the rewards program was set to launch at 5 p.m. ET today per The Block, it appears some users are already receiving rewards.

This is just the latest in a string of big updates from Magic Eden over the last 30 days, including:

It's been a big month for the marketplace, and it appears the innovations and feature updates are just getting started.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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