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Solana NFT Marketplace Magic Eden Reveals an Airdrop and Plans to Launch DAO

On Tuesday, Magic Eden, a Solana-based non-fungible token marketplace Magic Eden, announced that it is now airdropping NFT tickets for existing Magic Eden users. The project also plans to create a decentralized autonomous organisation (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 Drop 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. It began distributing thousands 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 foundations, which are:

  • 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 dappradar.com. 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. The developers claim that Magic Eden’s new DAO will 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 an interest in the health and well-being of Magic Eden as platform. We believe that, as a platform we have the potential to make the ecosystem more .

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 be the end of our first drop. The nature of the above description means that we don’t have a final number for a certain quantity, as the Magic Eden team’s blog post reveals. Magic Eden will soon have a dedicated Treasury wallet for funding initiatives. This is expected to happen within the next two weeks.

What do you think about Magic Eden’s Magic Ticket NFT airdrop and the project forming a decentralized autonomous organization (DAO)? Please comment below to let us know your thoughts on this topic.

Jamie Redman

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

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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