Magic Eden NFT Marketplace is Launching a DAO, Airdropping Tokens

As Magic Eden sets up a DAO to oversee its future, the main platform for Solana NFTs will airdrop 50,000 NFTs to its active users.

Magic Eden NFT marketplace has quickly risen to the front of the Solana pack, same to how OpenSea has done on the Ethereum Network, to become the dominating competitor in the space. The project is now aiming to grow and adapt, with plans to form a DAO and airdrop NFT membership tickets to existing users, announced today.

Magic Eden will develop and launch a decentralized autonomous organization, named 'MagicDAO', aimed at advancing platform development, providing perks to supporters (including exclusive event access), and gradually expanding the project's ecosystem. DAOs have recently been a popular way to organize online groups and collaborate toward a shared purpose, frequently regulated by their own cryptocurrencies or tokens.

Magic Eden is giving away 50,000 Magic Ticket NFTs to existing customers of the marketplace starting today. Each ticket will function like a DAO community membership pass, including access to a private channel on Magic Eden's Discord server.

Users who first transacted with the platform between September 17 and October 17 last year, during the platform's first month of operation, those who first used the marketplace  between October 18 and December 17, and those who first used the site on December 18 or later will receive the 50,000 passes.

The Magic Ticket NFTs will not serve as a governance token for all users at this time. The project will be governed by Magic Eden team members and community leaders, while the procedure may alter over time. It's possible that more Magic Tickets will be released in the future.

Members will be able to vote on which NFT projects will be featured on the marketplace's homepage, engage in a hacker challenge to design marketplace tools, and receive exclusive goodies for the NFT LA event in late March in Los Angeles. Members of the community can also advise on how the DAO's treasury funds should be spent and invested.

Last fall, Solana's NFTs skyrocketed, and Magic Eden immediately rose to the front of the pack of marketplaces after its launch. According to DappRadar, the marketplace processed $475 million in trading volume in the last 30 days, with 230,000 members. Solanart, on the other hand, with $29 million in revenue and 65,000 subscribers, is the second largest Solana NFT platform.

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