Magic Eden is launching its own DAO.
Ryisan C. Feb. 22, 2022
We just spoke about Magic Eden yesterday and now there is even more news about this popular NFT marketplace. The top news is that MagicEden is launching MagicDAO, their very own DAO.
For those that don’t know A DAO is a Decentralized Autonomous Organization . Users are given a token that is used to participate in voting and control of resources.
MagicEden has designated 25,000–35,000 NFT Membership “Magic Tickets” that will allow the holder access to the MagicDAO once it is up and running in the very near future. The DAO will be designed to continue growth on the platform, offer special benefits, exclusive event access, and other untold benefits to the holders. There is also access to a gated channel on the discord of Magic Eden.
The airdrop will be done in multiple parts. The first part will be for those who had a transaction dated around Sep.17 and October 17, 2022, this would include the users of the first year of MagicEden’s opening. The next group will be those who used the site around 0ct.17 to December 17, and the final group will be those that used the site. The Solana NFT marketplace hopes to reward loyal users and those that are still active. The priority will go to those that have transacted on the marketplace within the last month.
As stated in our last article, the team at Magic Eden is all about security. To ensure that the NFT is delivered to real people that are actively and positively interacting on the marketplace there will be a requirement for the holder to link an email address and Discord account to their marketplace profile.
At the time of this article, it is not meant for the Magic Ticket NFT to be the governance token, the NFT is simply used as a key to gain access to the DAO. The governance of the project will still be handled by the team at ME for the current iteration of the DAO. The DAO will allow the members to vote on various things such as which projects will be featured on the main page. The holders will also be able to have exclusive perks for the event that is planned for late March and will be held in Los Angeles. The DAO will of course offer a treasury and that treasury’s funds will be spent and invested on other projects with members of the community having a voice in the decision-making process.
Magic Eden has brought back its launchpad and allowed new ways for creators to promote their projects and prove authenticity. With this new initiative, there is no doubt that a new era for Magic Eden is underway. As spoken in our other article Magic Eden has found more ways to bring value to everyone that makes a purchase or sale on their platform.
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