Tutorial | Magic Eden Airdrop Coming Soon, How to Get More ME Diamonds?

On February 3rd, Magic Eden launched a "reward program" to distribute diamond airdrops to users who have previously used the Phantom or Phantom List On ME functions on Magic Eden, and new users can also participate in diamond tasks to obtain diamonds. The deadline for diamond collection is 3:00 am on March 4th Beijing time.

Magic Eden's reward plan this time will be cross-chain, and the rewards will be traceable, which can reward historical activities on the platform. At the same time, holders of Magic Tickets will also receive rewards. Magic Tickets is an NFT series that grants access to MagicDAO.

Previously, the official documentation of Magic Eden confirmed the existence of $NFT tokens. It can be speculated that users may be able to convert the diamonds they obtain into NFT tokens later. The airdrop standards for NFT tokens may involve three aspects, including the total trading volume of NFTs, loyalty scores, and the number of collected diamonds, with the latter possibly being the main criterion.

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

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

Building on this foundation, Magic Eden continues to update and improve. In addition to the new incentive program introduced this time, it will also contribute to the community organization Non-Fungible DAO, which is dedicated to promoting the adoption and development of NFTs. 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 create a more powerful business model.

Related reading: "Magic Eden's Ambition and Vision: Unifying the NFT Multi-Chain Market, with DAO Planning and Coin Issuance Possibilities".

Despite the emergence of many similar reward programs in the market, Magic Eden's updates are not limited to rewards themselves, but also involve the unification of its NFT market on multiple chains such as Solana, Bitcoin, Ethereum, and Polygon, as well as the open source of smart contracts. BlockBeats has compiled a tutorial on how to possibly receive airdrops, for readers' reference.

Register for Magic Eden Wallet

On January 30th, Magic Eden announced the official launch of its multi-chain wallet product, which includes the following features: 1. Instant cross-chain exchange 2. NFT portfolio management 3. Native Ordinals and BRC20 support 4. End-to-end rare intelligence management.

It is worth noting that only those who have previously used the Phantom or Phantom List On ME function on Magic Eden are eligible to receive the diamond airdrop directly. Registering a Magic Eden wallet and using it to interact with Magic Eden is necessary to receive the remaining rewards promised by the official. For example, in February, Magic Eden will release free minting of NFT projects such as Claynosaurz, Degenerate Ape Academy, and BoDoggos within the wallet, as well as increase the chances of being added to the mint whitelist, and more.

Open the download page, add the Magic Eden wallet to your Google Chrome browser extensions, and after downloading, open the wallet extension and click "Create New Wallet".

Enter the same password twice as prompted, and click "Continue" to proceed to the next step.

Click on the yellow section at the bottom of the wallet page, enter the password set in the previous step, and obtain a 12-word mnemonic phrase. After backing up the mnemonic phrase, four random words will be generated. Select the words that match your mnemonic phrase, 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 start trading.

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

After jumping to the new page, click "Claim Diamonds" to receive the diamond airdrop.

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

其中，Buying refers to purchasing local NFTs on Magic Eden to earn diamonds. The more you buy, the more you earn. Listing refers to earning diamonds by listing NFTs for sale, with a higher chance of selling resulting in more diamonds earned. Collection Offers refers to earning diamonds by offering collection discounts and receiving additional rewards by providing greater liquidity.

In the Buying task, click "Start Buying" to select a collection from the list, choose the NFT you want 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 quantity of diamonds directly affects the NFT airdrop. However, don't forget to pay attention to your loyalty score to ensure it stays at 100%. The loyalty score is calculated based on the user's transaction behavior on Magic Eden in the past 6 months, and users can see their loyalty score in the personal reward center.

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