Magic Eden Announce a $1M Creator Monetization Hackathon

Magic Eden, one of the leading Solana NFT marketplaces, has announced an incredible one-million-dollar hackathon. The Creator Monetization Hackathon is a mind-blowing opportunity to develop long-term and impactful solutions for royalty enforcement and alternative business models. To clarify, the hackathon will allow creators and ecosystem partners the freedom to work in an open and creative environment. Additionally, several judges have signed up for the event, which promises to be an extraordinary meeting of minds.

Magic Eden launches $1 million hackathon

Magic Eden is an incredibly innovative and creative platform. Much more than an NFT marketplace, it is also shaping the future of the Solana blockchain. One of the ways it helps to drive the space forward is through hackathons. A hackathon is a social coding event for those unfamiliar with the term. Furthermore, it allows people to work together to achieve a common goal.

The latest hackathon by Magic Eden provides a unique opportunity for people involved in the ecosystem to improve how the platform works.

Hackathon will offer a range of grants

Significantly, Magic Eden will also offer grants and exposure to those participating in the hackathon.

In a statement on their website, 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.”

Finally, so far, at least seven judges have been announced. More details will follow about the hackathon event in the coming weeks.

Recently, the Magic Eden platform has also confirmed to its community that it is enabling optional creator royalties for users. This has caused massive controversy in the community, with many calling it unfair to artists and creators.