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Magic Eden, an NFT platform, announced recently the global launch of a new cross chain wallet and an upgraded rewards program. This development is a part of their efforts to enhance the NFT Ecosystem and cater for cross-chain collectors.
Magic Eden Rewards
The updated Magic EdenSoon, the rewards program that is currently available on Solana will be expanded to Ethereum and Bitcoin. This expansion is intended to simplify the use of different blockchains for all users, including collectors. In addition, the rewards program was upgraded to include universal perks that cater to both collectors as well as creators. Its latest iteration features quests that are inclusive of every community member, whether they’re existing community members or just joining.
Contributing to Non-Fungible DA for Industry Growth
Magic Eden will contribute to Non-Fungible Dao to foster industry growth. This community-led organization focuses on promoting NFT adoption and development through the $NFT token, which is slated for release ‘SOON’.
Magic Eden plans to open-source its major protocols and contribute them to Non-Fungible. These protocols also include their marketplace across different chains, creating collaboration and innovation opportunities within the NFT eco-system.
Cross-Chain wallet: Streamlining NFT Collection and Trading
Magic Eden has also expanded the availability of its self-custody, cross-chain wallet. Initial releaseIn late 2023, this wallet will allow users to instantly swap cryptocurrency between Bitcoin, Solana Ethereum and Polygon.
Magic Eden will soon reward users who collect and exchange their cross-chain wallet. NFTs. This feature is designed to improve the user experience, and provide additional benefits to Magic Eden members.
The desktop extension and wallet are available globally by the end January, making it easy for users to access and use the cross-chain Wallet.
Commitment of Digital Ownership and Community Driven Software
Zhuoxun ‘Zedd’ Yin, Magic Eden’s Co-Founder and COO, emphasized the company’s commitment to making digital ownership widespread. They envision a day when owning and trading NFTs will be accessible to all. He said, “At Magic Eden, we believe in making digital ownership universal. It means making NFTs a ubiquitous underpinning technology, regardless of their form. The opportunity is enormous and we are realizing this vision by expanding our products – the marketplace, wallet, rewards – across multiple chains and ecosystems.”
Magic Eden believes community-driven software has the power to expand the NFT Ecosystem. They hope to drive growth and innovation in the industry by making their major protocols available as open-source software and contributing them to Non Fungible DAO.
The expansion of Magic Eden Rewards, as well as other initiatives, demonstrates their commitment to universalizing digital ownership. By promoting NFTs as universal technology, they help to set the new standard in the world of blockchain and NFTs.