Popular NFT marketplace Magic Eden rolled out its reward program a few weeks ago to incentivize the use of its trading platforms available on Polygon, Bitcoin, Solana, and Ethereum.
Along with the reward program, the NFT marketplace said in January that it is planning to open-source its trading and minting protocols in partnership with a decentralized anonymous organization known as Non-Fungible DAO. Moreover, they will work together to launch the “NFT” token to reward Magic Eden users.
The number of NFT tokens you will receive depends on the “Diamonds” you earn. The number of diamonds sent to you will be based on the level of your daily trading activity. But it is worth mentioning that you might receive fewer Diamonds than normal during busy days when the NFT marketplace witnesses significant traffic.
How to Farm Diamonds
There is a ton of information available on Magic Eden’s website explaining how users can maximize their Diamond rewards. The primary way to receive Diamonds is by buying non-fungible tokens, listing them, and submitting collection offers. However, there are other ways to boost your rewards.
First, if you want to earn more Diamonds by buying NFTs, you need to make large purchases. To receive more Diamonds by selling, your NFT listing should be near the floor price of the collection. The closer it is to a collection’s lowest price, the higher the Diamonds you will earn.
If you wish to earn more Diamonds by placing offers, select any of the leading 100 NFT collections by trading volume and make sure you submit an offer that is closer to the collection’s lowest (floor) price.
Note that if you place a bid on the Claynosaurz NFT collection, you will get a 50% Diamond bonus.
Magic Eden Users With High Loyalty Score Set to Receive More Diamonds
Another recommended way to increase your Diamonds is by enhancing your Magic Eden Loyalty score. This rating shows how loyal you are to the NFT marketplace. If you list and trade NFTs only in Magic Eden, then your Loyalty score is likely to be high, which boosts your chances of getting more Diamonds.
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