Hey guys,
Hope you enjoyed our surprise airdrop yesterday! We’re so excited to share more about Magic Ticket and MagicDAO with you. Over the last few months, we’ve been wanting to find a way to work together with our community. We also wanted to find a meaningful way to fund projects that serve the ecosystem. Finally, we wanted to show some love to people who actively trade on Magic Eden.
A note on scams - there are fake airdrops happening right now. Unless your NFT is a Magic Ticket, it is a scam. Please be weary and only visit magiceden.io. Check your URLs. Do NOT give your private keys or password to anyone. Make sure that you are only receiving emails from [email protected]. Double, triple check all of the above. If you’re not sure if you’re about to get scammed, DM us.
About Our Airdrop:
Our team designed 3 levels of Magic Tickets based on the 1st date of transaction with ME and having also been active in the past month:
- OGs - people who first transacted on ME from Sep 17 - Oct 17
- Degens - people who first transacted on ME between Oct 18 - Dec 18
- Normies - people who first transacted on ME Dec 19 onwards
Timeline:
- Yesterday (Monday, Feb 21), we airdropped around 4K NFTs to active wallets (meaning they have conducted a trade on Magic Eden in the last month) that connected their discord IDs + emails.
- Today (Tuesday, Feb 22): we will continue airdropping active wallets.
- Tomorrow (Wednesday, Feb 23), we will airdrop active wallets from last month who connect email / discord by end of day Tuesday, Feb 22.
- This will conclude our first drop. By the nature of what we’ve described, we do not have a final # for a set quantity.
- We will compile a master list of all wallets that should have received a Magic Ticket and we will work on reconciling cases where people were on the list but did not receive a ticket. Our ops team is working hard to keep up with all the requests in the meantime.
Why Didn’t I Get An Airdrop?
Please keep in mind the airdrops are not completed yet. We’ve found that most folks who DM us have been able to get their questions sorted through this help center article. We are still seeing additional questions and trying to diagnose remaining issues with discord / email connection.
Why Connect Discord / Email?
We saw that there were some people who asked us why we requested an email / discord connection. The main reason is that we wanted to make sure people receiving the airdrop were actual people. In the spirit of transparency, here’s how we will use your data:
- Discord:
- We use your Discord to confirm you’re a holder because we built our own verification bot. That’s it.
- Email:
- We will add you to our newsletter subscription list to send you a weekly newsletter, which we prefaced under your email opt-in in your profile, so there should be no surprises there. You can unsubscribe from the newsletter at any time.
- We will email you in the future (date TBD) to ask if you’d like to receive email notifications covering key platform activities like bids, offers, subscribing to listing and launch. Many community members have asked us for email notifications. However, you can directly opt out of the email from there if you don’t want notifications. Additionally, you will have the option to change your notification preferences on our platform soon.
- Please note all emails will come from [email protected]. Our weekly newsletter currently comes from [email protected]. Please disregard all other emails and beware of scams.
These are the only use cases we have planned, and anything on top of that will be communicated explicitly for you to decide whether you want to partake or not.
We’re building a way for you to easily disconnect your email at anytime. For now, if you’ve already verified your email, you can simply replace the email to a fake email (e.g., asd;fljas;dklfja;dslkjf;[email protected]) if you don’t want to have your email connected. We do not store your information once it’s disconnected.
About Our Levels: Normie, Degen, OG
The reason we created 3 sections of our DAO was to create different experiences that will be most helpful for different groups in our community. There are many different types of people in our ecosystem. Different people, depending on how long they’ve been in the Solana NFT ecosystem, look for different things. OGs are people who have been in the ecosystem for a long time and are considered veterans in the NFT space. Degens are people who have been in the ecosystem for a few months and have immersed themselves in the world of NFTs. Normies are people who are dipping their toes into the NFT scene on Solana but want to learn more.
We think each level includes people with shared objectives. Many of these goals will overlap with other groups and we will look to accommodate that:
Examples of objectives for OGs:
- Champion stronger projects
- Build better tools for NFT marketplaces (analytics, safety tools, trading tools)
- Brainstorm ideas to strengthen the ecosystem in general
Examples of objectives for Degens:
- Learn how to become better traders
- Get connected to other project founders / devs / marketers
- Help identify scams / rugs
Examples of objectives for Normies:
- Make friends + help the ecosystem feel more inclusive
- Learn how to gauge the quality of projects
These goals will change over time as our DAO, our community and the Solana NFT ecosystem evolves, so we must all acknowledge a level of adaptivity and experimentation here.
About MagicDAO
The primary markers of a DAO are as follows:
- A mission and set of rules to which will operate
- Funding and treasury that can be used to fund and reward certain activities
- Voting rights to establish operation rules and make key decisions
To that point, here is our approach to managing the DAO:
MagicDAO Mission: MagicDAO’s purpose is to work together with our community to create a stronger Solana NFT ecosystem. Of course, we have a vested interest in the health of Magic Eden as a platform. However, we think that as a platform, we have the opportunity to make the ecosystem better. There will be situations where both goals are possible. There may be other situations where some tensions may exist. However, our creation of MagicDAO is a commitment to identify and work through these tensions with the community openly and transparently in order to support the people who use ME.
Funding: We have put in 1,000 SOL from our fees to kickstart the DAO. From there on out, 5% of creator royalties on secondary sales and 2% of trading fees from Magic Ticket will be used to also fund MagicDAO as a dedicated budget. We may run future campaigns to generate more DAO funding. While we are not launching a token-based DAO, we are creating an NFT-gated access to MagicDAO via Magic Ticket and consider this an experiment to grow closer to our community. We expect our DAO’s purpose and decisions to evolve over time, and we want to co-create the experience with the community. All funds will be used for initiatives that serve the community.
Governance: Each person in MagicDAO will be given voting privileges on various initiatives. We will also have a governance model for each level to ensure decentralized ownership of each level.
- Core teams: MagicDAO will identify core teams of 5-10 people for each level who can refine the objectives and curate projects at that level (time commitment 5-10 hours per week). Core teams should be extremely passionate about the objectives for their level.
- Advisors: We will also identify 4-5 advisors per level to provide guidance several times per month (time commitment 5-10 hours per month).
- These advisors and working teams will be placed in groups together with members of the Magic Eden team, who will serve as support on the projects at each level (but ultimately led by core teams). Advisors are welcome (but not obligated) to share that they are @TheMagicDAO advisors in their Twitter bios.
- Core teams and advisors may receive additional voting privileges on key initiatives (e.g., their votes might count as double). We want these people to reflect who the community wants to see.
- Magic Eden has identified advisors, but we will ask for the community to elect the core teams for each level. Expect elections in the upcoming month.
All of the above is subject to change based on community input. We will refine governance over time with the community’s input. In the beginning, Magic Eden’s team will be more heavily involved in decision-making since we want to start slowly and make sure MagicDAO is successful. Over time, we hope the community will play a larger role. Tangibly, what this means is that budget allocation and advisor selection across levels may first be a Magic Eden decision, but eventually we hope to work out a system where DAO members can have more ownership for who’s leading the levels and how projects can pitch for or receive funding.
The Map of Eden:
We have put together a roadmap for your review and expect it to evolve and grow over time.
Soon (in the next 2 weeks):
- Dedicated treasury wallet to fund initiatives: As mentioned, 5% creator royalties and 2% transaction fees from Magic Ticket will fund the DAO. We also added 1,000 SOL from our side to help kickstart the DAO.
- Homepage curation: Members will be able to vote on MagicDAO featured collections on our homepage. To reduce conflict of interest, only select Magic Eden employees will see these collections before they are featured on our homepage, and they will be barred from aping into these collections in advance
- Hacker challenge: Given that we recently published our API, we will lead a hacker challenge to co-develop challenges and bounties for winners
- Merch: We have already developed merch designs and will sell these to our MagicDAO holders for free (we’ll waive the price but you will likely have to cover shipping, still working out details)
- Whitelists for Launchpad: Moving forward, we expect to secure whitelists for Magic Ticket holders. We know the whitelist game gets painful. Given how hot certain mints are, we want to reserve some supply for Magic Eden users. However, we know that for creators, whitelists are challenging because the redemption rates are variable. For that reason, we expect to develop a way to reward people who redeem and potentially disallow further whitelists from users who repeatedly abuse receiving and not redeeming whitelists. These tactics will be worked out with the community.
- Dedicated feedback sessions for ME in general: We always want to learn how to make our platform better and want to listen to active users who care about Magic Eden. We’ll hold a regular forum where people can share their concerns. At least 1 co-founder will be present during these sessions. TBD if they will be voice or general chat.
- AMAs: We will host regular AMAs with the DAOs of blue chip collections. Our first AMAs will include ThugDAO, LotusDAO and NootDAO.
Medium term (in the next 1-2 months):
- Magic Ticket event at NFT LA: We’re still planning, but we expect to have either an exclusive event for Magic Ticket holders only or a public event that gives special perks to Magic Ticket holders
- Elections for OG, Degen, Normie core teams: We will create an election campaign where people can vote on who they want to lead the charge per level. These people will be in charge of managing initiatives.
- Games & challenges: We intend on developing community challenges that can build tribalism and camaraderie within the levels, teach people about NFT trading, and raise funds for the DAO.
- Ecosystem / collection perks: More to come, but at at a high level, we want to offer brands, collections, or ecosystem partners to give perks to our Magic Ticket holders based on their desire to receive such perks. Our desire for holders is to feel like holding a Magic Ticket is a ticket to the Solana Metaverse, where they can get some fun freebies, access to certain spaces, discounts, etc if they so wish.
Next steps:
- Today (Tuesday US time), we will share this document publicly. Throughout the day, we will collect feedback to this document in our Discord DAO general chat.
- On Tuesday evening US time 10 pm ET, we’ll hold our first DAO meeting to welcome everyone, say hi, and collect more feedback.
- Afterwards, we will ask the DAO members to help us refine the objectives for each level. We will focus on setting up advisors and elections for teams for each level.
Thank you all for reading and looking forward to your feedback!
Cheers,
ME Team
