Traders On Magic Eden Set To Earn Discounts And Free NFTs

Regular traders on Magic Eden will earn appealing discounts and even free NFTs for using the platform. This is according to a new rewards program introduced yesterday afternoon by the leading NFT marketplace on Solana.

The reward program features five tiers that increase in rewards. So, the more an individual or entity uses the platform, the more points they will earn. This will position them in a higher tier where they have access to more fee discounts and possibly free NFTs.

The basis of judgment is how much Solana (SOL) you spend on the NFT marketplace. Those with multiple Solana wallets who use them to trade NFTs can link all of them to a single Magic Eden account.

By doing this, they will boost the points they earn and position themselves on a higher tier for more rewards. And there is no need to worry about sensitive information being exposed to the public. As the platform will keep it private according to a representative of the platform.

According to a press release, the rewards program will include “loot boxes” from various NFT projects, NFT giveaways, and discounts. The whole point is to help creators reach the platform’s large user base. By doing this, Magic Eden achieves two goals: it offers NFT projects a chance to market themselves and, at the same time, stamps its authority on the Solana space.

Magic Eden Set To Introduce A New Fee Structure

Announcing the launch of the Magic Eden Rewards program, Jack Lu was ecstatic, noting, “As a marketplace, we’ve been trying hard to ship innovation that goes beyond the pure transactional layer.”

Before adding:

“Magic Eden Rewards gives us ways to celebrate and engage our community in new ways.”

The rewards program comes at a time when Magic Eden is working on changing how it handles fees on its platform. Starting January next year, the platform will launch a dynamic maker/taker model. One where fees will be split between buyers and sellers. In the past, only sellers were charged fees.


  • Basil Kimathi

    Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating fintech content for various media outlets around the globe. His work has been published on top websites such as, European Blockchain Convention, NFTNewsToday,,, and many others. When not thinking about disruptive technologies, Basil is busy exploring the outdoors.

The information provided on this blog is for informational purposes only and does not constitute financial, legal, or investment advice. The views and opinions expressed in the articles are those of the authors and do not necessarily reflect the official policy or position of NFT News Today.