Magic Eden Organizes a $1 million NFT Creator Monetization Hackathon

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One of the largest Solana NFT markets, Magic Eden, has launched a Hackathon with a million-dollar prize pool.

Quick Take: 

  • The Creator Monetization Hackathon is a great chance to create lasting royalty enforcement solutions.
  • Numerous judges have registered for the event.
  • The Magic Eden platform will also enable optional creator royalties for users.

The Creator Monetization Hackathon is an incredible chance to create long-term and effective solutions for royalty enforcement and alternative revenue models.

More specifically, the Hackathon will provide ecosystem partners and innovators with the opportunity to collaborate in an open and innovative atmosphere. Several judges have also joined the event, which appears to be an exceptional gathering of minds.

According to the announcement, creators that have an effective monetization plan or are researching royalty protection tools would be capable of applying to the Hackathon for financial assistance and grant funds.

The Magic Eden’s Hackathon will aid in mitigating the commercial effect of the current bear market, which has seen several NFT floor prices drop by more than 60% in recent months.

The $1 Million Hackathon

Magic Eden is a platform that is highly creative and innovative. It is much more than just an NFT marketplace; it is influencing the destiny of the Solana blockchain. Hackathons will enable individuals to collaborate in order to achieve a shared objective.

Furthermore, the Solana marketplace will provide incentives and exposure to individuals that participate in the Hackathon. Finally, at least 7 judges have been named so far for the Hackathon.

The Magic Eden platform verified to its community that it now offers users optional creator royalties. This has sparked widespread outrage in the community, with many accusing it of being unjust to artists and creators.

Magic Eden’s Background

The top cross-chain NFT platform, Magic Eden, is moving the next billion consumers to Web3. Magic Eden is a user-friendly platform driven by market-leading user products led by former crypto, IT, and hospitality executives.

Ultimately, Magic Eden enables people across hundreds of virtual communities to generate, find, and collect unique NFTs by bringing dynamic cultural events onto the blockchain.

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