Non-fungible token (NFT) marketplace Magic Eden has introduced new features aimed at improving user engagement — a rewards program and a cross-chain wallet.
The rewards program, launched in beta in December 2022, allows creators and collectors to earn points by buying and selling NFTs. These points can be later redeemed for rewards, including NFTs.
Currently supporting Solana, the program is set to expand to Ethereum, Bitcoin, and Polygon, according to a press release shared on January 22.
Additionally, Magic Eden has made its multi-chain wallet available to the public. Originally unveiled in November 2023 for a limited user group, the wallet now allows wider access for users to instantly swap cryptocurrencies among Bitcoin, Solana, Ethereum, and Polygon.
These developments align with Magic Eden’s broader mission of making digital ownership universal and ensuring accessibility to NFTs for everyone.
The platform has actively pursued this goal through various initiatives and collaborations over the past year. Notably, in November 2023, Magic Eden partnered with Citizen Conflict to launch exclusive NFT playable characters and announced a collaboration with Yuga Labs for a new Ethereum NFT marketplace, emphasizing fair royalties for creators.
While uncertainties in regulations and market conditions led to the closure of NFT marketplaces for other businesses like Aqua and GameStop, Magic Eden and other projects are fueled by the renewed interest in NFTs observed since the end of 2023.
Notably, as the largest Solana-based NFT platform, Magic Eden also benefited from Solana’s impressive performance in December 2023, surpassing Ethereum in NFT sales with a total of $366.3 million.