Magic Eden has unveiled three major new initiatives to improve its NFT ecosystem: a revamped rewards program now live on the Solana blockchain, open-sourcing of its NFT protocols by contributing them to the Non-Fungible DAO, and a soon-to-be globally released universal cross-chain wallet currently in beta testing.
The upgraded rewards program is aimed at expanding Magic Eden’s reach across various blockchains like Ethereum, Bitcoin, and Polygon by offering quests and benefits to NFT collectors and creators participating in those chains. By open-sourcing its tools and contributing them to the community-owned Non-Fungible DAO, Magic Eden seeks to advance decentralization and strengthen the wider NFT ecosystem across multiple blockchains.
The cross-chain wallet, which has already seen over $1.9 billion in trading volume during its beta testing, will allow smooth cryptocurrency exchanges across Solana, Ether, Bitcoin, and Polygon when it has its full global launch by the end of January. Users can expect alluring rewards.
Through these three major initiatives focused on rewards, open-source development, and a cross-chain wallet, Magic Eden continues to actively shape the NFT space, compete in the market, and contribute to the evolution and advantages of digital assets across different blockchains.
