Magic Eden $SOL Rewards for Solana-Based Trading

multi-chain NFT marketplace, magic eden, revealed that it is returning to its origins by rewarding traders for buying and selling Solana NFTs.Through new initiatives they generate revenue $SOL for your trading activity on the Platform;

Going forward, Magic Eden will temporarily reduce the maker fee to minus 0.25%, effectively allowing traders to earn SOL when buying and selling NFTs. So, when selling NFTs, traders receive 100.25% of the list price, and when buying NFTs, they receive 0.25% SOL rebate.

Magic Eden has introduced a number of significant changes to the NFT Marketplace to operate more efficiently with the rest of the industry. In addition to rewarding traders, he launched an aggregation feature that gives users a single destination where they can buy Solana NFTs across competing markets.

Additionally, in response to previous criticism, Magic Eden promised to open source its smart contract code and remove the “co-signing” feature that prevented competitors from aggregating their listings.

Welcome to Chapter 2. It’s time to make some changes.

From today we will be:
✅ Start NFT Aggregation with Solana
✅ Employ composability
✅ Offer -0.25% maker fee for ME for a limited time. You can now earn SOL when your offer is accepted and your item is sold. 🧵👇 pic.twitter.com/3b0QXal4re

— Magic Eden 🪄 (@MagicEden) May 24, 2023

Magic Eden Marketplace Reacts to the Rise of Tensor

This new approach by Magic Eden comes amid growing competition from rival NFT marketplace Tensor. In recent months, the newcomer has eaten into Magic Eden’s market share by offering a rewards program similar to the one deployed on the Blur marketplace.

Shortly after this announcement, Magic Eden trading began to climb. But time will tell if it’s done enough to turn the tide for this brave start-up. With this in mind, the platform hints at further innovations coming to Magic Eden in the coming months.

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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.