Magic Eden is about to airdrop, how to get more ME diamonds?

~Written by: Luccy, ForesightNews~

On February 3, Magic Eden launched a "Reward Program," distributing diamond airdrops to users who have previously used the Phantom or Phantom List On ME features on Magic Eden. New users can also participate in diamond tasks to earn diamonds. The deadline for claiming diamonds is 3 AM Beijing time on March 4.

This reward program by Magic Eden will be cross-chain, and the rewards will be retroactive, allowing for the rewarding of historical activities on the platform. Additionally, holders of Magic Tickets will also receive rewards. Magic Tickets are an NFT series that grants access to MagicDAO.

Previously, Magic Eden's official documentation confirmed the existence of $NFT tokens, leading to speculation that the diamonds users earn may later be convertible to NFT tokens. The airdrop criteria for NFT tokens may involve three aspects, including total NFT trading volume, loyalty scores, and the number of diamonds collected, with the latter potentially being the primary criterion.

Magic Eden is the largest NFT marketplace on Solana. According to data from the Magic Eden official website, its total trading volume has reached 60,778,748 SOL, with over 800,000 traders. Subsequently, Magic Eden has also deployed on multiple public chains such as Ethereum and Polygon, and recently launched a Bitcoin ecosystem NFT marketplace.

From a funding perspective, in March 2022, Magic Eden completed a $16.9 million funding round, with investors including Sequoia Capital, Paradigm, and Greylock. Then, on June 22, Magic Eden announced the completion of a $130 million Series B funding round at a valuation of $1.6 billion, led by Electric Capital and Greylock, with new investor Lightspeed Venture Partners also participating alongside previous investors Paradigm and Sequoia Capital.

On this basis, Magic Eden continues to evolve. In addition to the new incentive program launched this time, it will also contribute to the community organization Non-Fungible DAO, which is dedicated to promoting NFT adoption and development, and the NFT tokens will be launched by the DAO in the future. The core of this reform is to unify the market and user experience through NFT tokens and the Magic Eden wallet, as well as to establish a more robust business model.

Although many similar reward programs have emerged in the market, Magic Eden's updates are not limited to the rewards themselves but also involve the unification of its NFT marketplace across multiple chains such as Solana, Bitcoin, Ethereum, and Polygon, as well as the open-source of smart contracts. BlockBeats has compiled tutorials for obtaining potential airdrops for readers' reference.

Registering a Magic Eden Wallet

On January 30, Magic Eden officially launched its multi-chain wallet product, featuring: 1. Instant cross-chain swaps 2. NFT portfolio management 3. Native Ordinals and BRC20 support 4. End-to-end rare satoshi management.

It is worth noting that only users who have previously used the Phantom or Phantom List On ME features on Magic Eden are eligible to directly receive the diamond airdrop. Registering a Magic Eden wallet and interacting with it on Magic Eden is to obtain the remaining rewards promised by the official. For example, Magic Eden will release free mints from NFT projects such as Claynosaurz, Degenerate Ape Academy, and BoDoggos in the wallet in February, which will also increase the chances of being on the mint whitelist, among other benefits.

Open the download page, add the Magic Eden wallet as a Google Chrome extension, and after downloading, open the wallet extension and click "Create New Wallet."

Follow the prompts to enter the same password twice, then click "Continue" to proceed to the next step.

Click on the yellow text at the bottom of the wallet page, enter the password set in the previous step, and obtain the 12-word mnemonic. After backing up the mnemonic, four random words will be generated; select the words that match your mnemonic, and the wallet will be successfully created.

Interacting with Magic Eden

Directly enter the Magic Eden official website, or click "Visit Magic Eden" on the Magic Eden wallet homepage. After connecting the wallet, click "Sign" to confirm the signature, and you can start trading.

Click on the diamond icon in the upper right corner of the official website.

After being redirected to a new page, click "Claim Diamonds" to receive the diamond airdrop.

For new users of the Magic Eden wallet, there are currently three other tasks to earn diamond rewards: Buying, Listing, and Collection Offers.

Among them, Buying refers to purchasing local NFTs on Magic Eden to earn diamonds, with larger purchases yielding more. Listing refers to earning diamonds by listing NFTs, with a higher likelihood of sale resulting in more diamonds earned. Collection Offers refers to earning diamonds by providing collection offers and gaining additional rewards through increased liquidity.

In the Buying task, click "Start Buying," select a collection from the list, choose the NFT to purchase or click "Buy Floor," and confirm the transaction in your wallet. In the Listing task, open the homepage, select the NFT you want to list, enter the price, and click "Submit Listing."

The number of diamonds directly affects the NFT airdrop. However, do not forget to monitor your loyalty score to ensure it remains at 100%. The loyalty score is calculated based on the user's trading behavior on Magic Eden over the past six months, and users can view their loyalty score in their personal reward center.