Introduction

03/31/2023 00:24 • Daily Digest • 65 views

According to reports, Magic Eden announced the introduction of Diamond Rewards in the NFT market, allowing users to earn diamonds based on different tasks, and unlocking more rewards in Magic Eden. Diamonds are a reward currency, and the number of rewards per month will remain unchanged. There are three ways to obtain diamonds: placing NFT on Magic Eden and successfully selling it, bidding for NFT on Magic Eden and being accepted, and completing the Profile information. In addition, loyalty scores are used to determine the multiplier for earning diamonds, and a 100% loyalty score will live up to twice the multiplier.

Magic Eden introduces diamond rewards that allow users to earn diamonds based on tasks

In recent years, there has been a surge in the popularity of non-fungible tokens (NFTs). NFTs are digital assets that represent ownership of unique items, such as artwork or collectibles, on a blockchain network. As the market for NFTs continues to grow, Magic Eden has announced the introduction of Diamond Rewards in the NFT market, allowing users to earn diamonds based on different tasks and unlock more rewards in Magic Eden.
# What are Diamond Rewards?
Diamond Rewards are a loyalty program introduced by Magic Eden for its users. It is a reward currency that can be earned by completing certain tasks on the site. The number of rewards per month will remain unchanged, ensuring that everyone has an equal opportunity to earn rewards.
# How to Obtain Diamond Rewards
There are three ways to obtain diamonds on Magic Eden:

1. Placing NFT on Magic Eden and successfully selling it

Users who list their NFTs on Magic Eden and successfully sell them can earn diamonds as a reward. This promotes active participation in the market.

2. Bidding for NFTs on Magic Eden and being accepted

Users who bid for an NFT on Magic Eden and are accepted by the seller can also earn diamonds. This feature encourages users to actively engage in the bidding process, ultimately leading to a more vibrant market.

3. Completing the Profile Information

Users can also earn diamonds by completing their profile information. This feature urges users to provide accurate and complete information for the benefit of the entire Magic Eden community.
# Loyalty Scores and Multiplier
Magic Eden leverages loyalty scores to determine the multiplier for earning diamonds. A loyalty score is based on a user’s activity on the site. It’s a metric used to evaluate a user’s loyalty to the platform. The higher the loyalty score, the higher the multiplier, which means a user can earn more diamonds. A score of 100% loyalty will lead to twice the multiplier.
# Conclusion
Magic Eden’s Diamond Rewards program is a fantastic way to promote active participation in the NFT market. With three ways to earn diamonds and the potential to earn more by increasing their loyalty score, users now have more reasons to buy, sell, and participate in the market.
# FAQs

1. How do I check my Diamond Rewards balance?

You can check your Diamond Rewards balance on your Magic Eden dashboard.

2. Can I use my Diamond Rewards as a payment currency?

No, Diamond Rewards are not a payment currency. They can only be used for rewards on the Magic Eden platform.

3. What is the maximum amount of diamonds that I can earn in a month?

The maximum number of diamonds you can earn in a month is fixed and will remain the same.

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