Solana NFT Marketplace Magic Eden Reveals Airdrop, Plans to Launch DAO – Bitcoin News

Solana NFT Marketplace Magic Eden Reveals Airdrop, Plans to Launch DAO – Bitcoin News

On Tuesday, the Solana-based non-fungible token (NFT) marketplace Magic Eden announced the project is airdropping NFT tickets to existing Magic Eden users and plans to form a decentralized autonomous organization (DAO). On February 21, the Magic Eden project airdropped around 4,000 NFTs to active wallets, and the following day the team announced the DAO roadmap.

The Magic Ticket Airdrop and DAO

According to the developers of the Solana-based Magic Eden NFT marketplace, a DAO is in the making and the fundamentals behind the change. The team detailed that it started distributing thousands of NFTs to active wallets. Magic Eden (ME) developers created three levels of “Magic Tickets,” which includes “OGs – people who first transacted on ME from Sep 17 – Oct 17,” “Degens – people who first transacted on ME between Oct 18 – Dec 18,” and “Normies – people who first transacted on ME Dec 19 onwards.”

The Magic DAO has three fundamentals which include:

A mission and set of rules to which will operate
Funding and treasury that can be used to fund and reward certain activities
Voting rights to establish operation rules and make key decisions


Magic Eden is a popular NFT market and 24-hour statistics indicate it’s the 12th largest market by NFT sales volume, according to Metrics further show the Solana-based NFT marketplace Magic Eden is the sixth largest, in terms of all-time sales volume with $704.15 million.

The NFT market has seen 411,539 traders and the average NFT price on ME today is $291.16 or roughly 3.40 solana (SOL). Magic Eden’s the top Solana NFT marketplace as well as it competes with markets like Solanart and Solsea. According to the developers, Magic Eden’s newly announced DAO aims to empower the ME community.

“Magic DAO’s purpose is to work together with our community to create a stronger Solana NFT ecosystem,” the team’s blog post on Tuesday details. “Of course, we have a vested interest in the health of Magic Eden as a platform. However, we think that as a platform, we have the opportunity to make the ecosystem better.”

While giving 4,000 NFT to active wallets, Magic Eden’s team also noted it was airdropping NFTs on Tuesday and on Wednesday, February 23 as well. “This will conclude our first drop. By the nature of what we’ve described, we do not have a final # for a set quantity,” the Magic Eden team’s blog post discloses. Soon, or in the “next two weeks,” Magic Eden will have a dedicated treasury wallet to fund initiatives.

Tags in this story

Airdrop, community, DAO, decentralized autonomous organization, Governance, Magic DAO, Magic Eden, Magic Eden Market, Magic Eden Marketplace, Magic Tickets, NFT airdrop, NFT community, NFTs, Sales Volume, SOL, Solana, Solana (SOL), Solana NFT Community, Solana NFT Market, Solana NFTs, Solanart, Solsea, Treasury Wallet, volume, Voting

What do you think about Magic Eden’s Magic Ticket NFT airdrop and the project forming a decentralized autonomous organization (DAO)? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest