Solana nonfungible token, or NFT, marketplace, Magic Eden has announced a partnership collaboration with popular sporting entertainment platform Overtime to launch an NFT collection proposing to enhance fan engagement and exclusive experiences.
The partnership is orientated around the 2022 NCAA men’s basketball tournament, a national college championship conference often referred to as March Madness, and considered one of the largest sporting events in the United States.
The tournament will commence on March 15 and conclude with a championship match at the near-75,000 seat Caesars Superdome stadium in New Orleans on April 4.
Having amassed over 1 million and 6.5 million followers on Twitter and Instagram, respectively, cross-medium entertainment brand Overtime has obtained ≈ $135 million from esteemed venture capitalists Spark Capital and Bezos Expeditions, as well as leading contributions in both Series A and Series B rounds by Andreessen Horowitz, also known as a16z.
Similarly, Magic Eden has risen to prominence over the past few years following their Sept 2017 inception, registering almost $400 million in trading volume over the past 30 days as the leading DApp on Solana, and surpassing the daily transaction value of OpenSea during December last year.
More recently, the platform also announced plans to establish a decentralized autonomous organization, or DAO, deploying a three-tiered NFT airdrop to dedicated users to instigate the process.
Read about our #MagicTicket airdrop + @TheMagicDAO@TheMagicDAO’s purpose is to work together w/ the community to create a stronger Solana NFT ecosystem
DAO will be funded with 1K SOL from ME + 2% of Magic Ticket tx fees + 5% of Magic Ticket royalties.https://t.co/RjajMLtg3M pic.twitter.com/1uX6YsbrtV
— Magic Eden Solana’s Leading NFT Marketplace (@MagicEden) February 22, 2022
Cointelegraph spoke to the co-founder and CEO of Overtime, Dan Porter, and the co-founder of Magic Eden, Jack Lu, to attain the specific reasoning for the joint endeavor, expert judgments on the…
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