Magic Eden的野望与愿景：一统NFT多链市场

Original author:TPAN

Original compilation: Deep Chao TechFlow

This article explores Magic Eden’s latest rewards program and the larger vision behind it. Although many similar reward schemes are currently emerging on the market, Magic Edens updates are not limited to the rewards themselves, but also involve the unification of its NFT market on multiple chains such as Solana, Bitcoin, Ethereum and Polygon and the open source of smart contracts. The core of this reform is to achieve the unification of market and user experience, as well as a more powerful business model through $NFT tokens and Magic Eden wallet.

Magic Eden revamped their rewards program

I know some of you (maybe all of you) are probably tired of talking about points, rewards, and airdrops. Although todays article involves Magic Edens rewards, this is not the main content of the article.

I myself even have trouble keeping up with all the new initiatives being launched. For example, Rabby (a wallet provider) is launching a points program to compete with the one launched by Rainbow last month, aiming to take market share from the market giant Metamask (which currently has no airdrop or points system).

So, what does Magic Eden’s new rewards program do, and how does this title obscure Magic Eden’s larger vision? We need to look at the announcements in chronological order.

Before this, if you are not familiar with Magic Eden, pleaseclick hereto learn more.

Magic Eden launches non-fungible DAO

Yesterday, Magic Eden announced the launch of Non-Fungible DAO.

in short:

• Magic Eden will open source its smart contracts in the Solana, Bitcoin, Ethereum and Polygon markets. Magic Eden will hand over control of the protocol to the non-fungible DAO.

• The DAO will be governed by $NFT token holders (not yet online)

• The majority of the supply of $NFT tokens will be distributed to the community, with users earning it by using the protocol owned by the Non-Fungible DAO

• Speaking in human terms: Using Magic Eden, $NFT will be airdropped in the future

4 hours later

About 4 hours later, Magic Eden posted aTeaser video, reaffirming the market’s multi-chain capabilities and partnerships. This is an interesting video you can check out. There are two images in the video that caught my attention:

Multiple famous NFT collections on different blockchains displayed side by side

The Magic Eden wallet is shown. This was announced a few months ago and is still in beta and pending.

24 hours later

About a day later, Magic Eden shared details about its revamped rewards program. This adds more context to earlier announcements about non-fungible DAOs and $NFTs.

in short:

• The new rewards program will be cross-chain and will launch on Solana starting on February 2

• Rewards are retroactive and reward historical activities on the platform

• Magic Tickets holders will also receive rewards. Magic Tickets, a series of NFTs that granted access to MagicDAO, were a similar early effort but may not have been best prepared for their ambitions. As we have seen, this has now been integrated into wider reforms.

• Using Magic Eden will result in more diamonds (assuming diamonds will be converted to $NFT at some point)

This is a big announcement! However, amid the excitement surrounding this incentive program, something didn’t feel right. When I was looking at Magic Edens series of announcements and preparing for this session, I wasnt sure what to make of them. Everyone is excited, but what does it all mean? The focus is on airdrops and tokens, which is big news.

Unified NFT market experience

Magic Eden is unifying the NFT experience. What does this look like?

unified market

The first screenshot from the video I shared earlier says it all.

You need to connect different wallets for each chain (Ethereum, Solana, Bitcoin). Thats why Magic Eden has 4 markets (Magic Eden is nominally 1 market, but is actually divided into 4 markets by function).

So, what is the common denominator that actually allows one market (as opposed to 4) to operate under one roof? A wallet that can support it!

unified wallet

Magic Eden Wallet is the glue that turns 4 markets into 1 market. So why is Magic Eden launching a new wallet extension app in this seemingly crowded space? The extension’s description in the Chrome Web Store provides a good reason, here are some highlights:

• Instantly transfer crypto between chains and easily collect any NFT on Solana, Ethereum, Polygon or Bitcoin Ordinals

• Use a single cross-chain wallet without switching between multiple chain-specific wallets

• Directly integrated with Magic Edens NFT platform to provide you with better NFT management, experience and rewards on Magic Eden

• Do more directly from your wallet View, buy, list and sell NFTs on Magic Eden without leaving your wallet

• Buy and sell on-chain using simple payment methods like debit card, bank transfer, or Apple Pay, and the Magic Eden wallet supports local currencies in selected regions.

What does this accomplish?

Well, Magic Eden gained more market share, attracted more users, retained more users, had a successful airdrop, and everyone made a lot of money!

Beyond that, what else?

Unify users and communities across ecosystems

Have you wanted to buy the popular Solana NFT but have been confused about bridging ETH to SOL?

Want to buy Bitcoin Ordinal but dont even know what Ordinal means?

It doesn’t matter, you can do both of these things using the same wallet, thanks to Magic Eden for doing it all!

Unify attention and users

Okay, great, Magic Eden has its own plans for the market and wallet. Why should users care about these plans?

Frankly, users care in theory, but unfortunately in reality dont always care about Magic Edens plans. They actually care about two things:

• How to make money

• How to save money

I mean, why are the most popular posts today being announcements of rewards or points programs?

The Magic Eden team knew this, so they planned a way to incorporate rewards (aka, ultimately, tokens) into their larger vision. Putting it all together:

Okay, this visual isnt as appealing as I thought it would be, haha.

To summarize the effect of this: Magic Edens rewards are a means to:

• Provide users with a better NFT experience

• Provide Magic Eden with a stronger, more attractive and richer business model

Summarize

I dont know if my prediction is correct, only time will tell. However, I believe all the pieces of the puzzle are there, hinting at how Magic Edens roadmap and its strategy will come to fruition.

If they succeed, I believe they will bring more energy to NFTs and crypto.