Magic Eden Introduces New "Lucky Buy"

Janak9955

"NFT marketplace Magic Eden has announced the launch of its new ""Lucky Buy"" feature, which allows buyers to purchase NFTs below market prices. Buyers can participate in auctions to buy NFTs, and if their bid is successful, Magic Eden covers the price difference, while the seller still receives the full list price for their NFT. Even if the purchase is not successful, NFT buyers receive ""diamond"" rewards. The feature operates on a percentage-based system, where the system determines the percentage of the NFT's list price that users want to use and the probability of their winning. Currently, Magic Eden allows the Degen Ape Academy NFT series to support this feature, with plans to expand it to other NFT series in the future. It's important to note that Magic Eden charges a 3% fee for each Lucky Buy transaction, with the breakdown being 1% for the creator, 1% for the seller, and 1% for the Magic Eden platform.

Isha000

Getting it below market price is also very appealing.