Magic Eden to Kick-Off $1 Million Hackathon

The Hackathon will allow creators to work in a creative environment and develop novel ideas.

Oct 19, 2022
by Michael
Magic Eden to Kick-Off $1 Million Hackathon
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Magic Eden Hackathon

Leading Solana-based NFT marketplace Magic Eden has announced a mouthwatering $1 million Creator Monetization Hackathon.

The Hackathon is an opportunity to develop long-lasting solutions for royalty enforcement and other business models. In addition, the program will give creators and ecosystem partners a chance to work in a friendly and innovative environment. Also, several judges indicated an interest in the events, which signifies the many benefits creators will enjoy.

Magic Eden was founded by Sydney Zhang, Jack Lu, Zhuoxun Yin, and Zhojie Zhou. The platform trades about 98% of the daily volume for Solana NFTs. The company announced in August that it would expand its NFT offerings to Ethereum, although Solana remains the product's primary blockchain.

Magic Eden stands as a solution to NFT challenges by driving creativity and innovative activities on the platform. The Marketplace is using hackathons to redefine the future of Solana, and they serve as opportunities for people to meet and achieve a common purpose together.

Participants will get Grants and Exposure

Apart from the novel ideas, Magic Eden will also give grants and exposure to those involved in the event.

Magic Eden said, 

"We will work with the community to provide grants for these solutions and give them exposure. Should you be working on any solutions, including protocol-level royalty enforcement, collector incentives for enforcing royalties, disincentives for bypassing royalties, or alternative monetization models, we want to talk to you."

More than seven judges have been announced at the moment, and they will be participating in the Hackathon event. The Marketplace recently announced it would be enabling optional creator royalties. This development has received mixed feelings from some quarters as they alleged it is unfair to creators and artists.

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