KEY POINTS
Non-Fungible DAO, an organization advocating for the broader adoption of NFTs, is set to recognize and reward users actively using “msigner” on Magic Eden’s Bitcoin-centric non-fungible token (NFT) marketplace.
Msigner stands out as an open-source Ordinals Partially Signed Bitcoin Transaction (PSBT) signer library, prioritizing the highest level of security for user transactions and personal information within Magic Eden’s Bitcoin Ordinal platform.
The main feature of this system is its ability to execute transactions without disclosing partial signatures to the public or even to the NFT buyer. Additionally, any modifications to the listing or transfer automatically eliminate previous seller listing signatures.
By upholding the security of the seller’s partial signature and incorporating robust encryption through PSBT, users can engage in NFT buying and selling activities securely.
As per a post on X (Twitter), msigner has already witnessed the signing of over 75 million PSBTs and facilitated more than 1.3 million swaps. Now, to broaden its user base, Non-Fungible DAO aims to incentivize msigner users through rewards.
Users of msigner will receive rewards in $NFT, the token that governs the Non-Fungible DAO, granting holders voting rights and participation in critical decisions. These rewards will not only be extended to new users but will also be retroactively applied to past and present users based on their usage history.
Magic Eden announced its close collaboration with Non-Fungible DAO in January, coinciding with the introduction of its NFT reward program and the public release of its multi-chain wallet. The platform recently provided users of its newly launched wallet the opportunity to claim exclusive NFTs for free.
Despite challenges in the NFT market, Magic Eden remains committed to community-centric initiatives. In a recent collaboration, the platform partnered with Yuga Labs to unveil an Ethereum-powered NFT marketplace, emphasizing creator royalties.
