We want to make sure we list as many collections as possible on the marketplace. It’s important that we give the widest possible selection to our users–whales, degens and normies alike–so you all continue to see Magic Eden as your destination for discovery, expression and ownership across digital cultures.
But we also take trust and safety very seriously. To help users, we now give the badge to collections listed on our marketplace. The badge signals a collection’s being authentic, significant and in good standing. It is, however, not a sign of endorsement nor a recommendation from Magic Eden.
We will also soon leverage AI and machine learning technology to weed out copymints and any collections that have offensive, violent, vulgar or hateful content. This, alongside the badging of collections, will help keep the platform as safe as possible as we move to a truly open listings model.
What does the badge signify?
The badge is a signal that a collection is genuine and legitimate. As far as we know and according to our best assessment, these badged collections are not a duplicate, copy or unauthorized appropriation of another collection’s assets. Like a certificate of authenticity for art pieces, the badge can help users tell apart originals from fakes that intend to mislead users into thinking they are buying "the real thing.”
Collections that have performed well or that come with a certain level of interest tend to attract scams, parodies and other misrepresentations. As such, only collections that have hurdled a total sales volume bar of 5,000 SOL (which puts them at the top ~5% of collections listed on the marketplace), the Launchpad criteria, or are backed by project founders/ artists/ teams that are notable and publicly recognized, will be eligible to apply for badging.
Being in good standing
Given the breadth of collections and how hard it could be to recognize legitimate ones, we will only badge collections that do not bear the usual and obvious signs of being a scam or a rug risk. The markers we will consider include the size of the community relative to the supply, their community's level of activity and quality of engagement, and signs of questionable practices such as using bots to up their social media following, market manipulation and artificially inflating sales volume.
Not an endorsement
The badge in no way represents Magic Eden's views or opinion about the collection, the team behind it, and their ability to execute on the project's roadmap. Neither does the badge comment on the originality or quality of a collection’s artwork. Finally, the badge does not constitute a recommendation to buy, nor does it intend to bestow prestige on the collection.
What are the 3 ways to get badged?
1/ By applying upon hurdling a volume threshold
Collections that have posted sales upwards of 5,000 SOL will be eligible to apply for badging. Other collections from a single creator where at least one of their collections exceeds 5,000 SOL trading volume will also be considered for badging. We will also continue to revisit this volume threshold over time..
2/ By providing supporting docs
Projects with notable and publicly recognized founders/artists/team members are welcome to send us information to substantiate their application here. This information could include:
Coverage or multiple mentions in widely recognised and reputable publications
Evidence of verification on specialized marketplaces and other major social media platforms such as Twitter and Instagram
3/ By launching on ME Launchpad
Being selected for ME Launchpad means a collection has hurdled our internal vetting standards and we are aware of the provenance of the mints themselves. This gives us a high level of confidence that the collection is authentic, and we automatically badge ME Launchpad collections upon launch.
Can so-called derivatives receive the badge?
There’s no clear-cut solution here. On the one hand, the badge is meant to be a signal of authenticity, which could mean that derivatives, remixes, mashups, spinoffs, fan art and homages are automatically inauthentic because they borrow heavily from another (usually badged) collection. On the other, it is incredibly hard to draw the line as to what is truly original, and what is derivative. Magic Eden is trying to protect creators and users, and is certainly not trying to play judge, critic or art historian.
Collections deemed by some as “derivatives” manage to achieve high trading volumes, maintain a strong floor price over a long period of time and build a large and fervent fan base. These collections have a relatively higher likelihood of getting badged after careful consideration.
Some of these “derivatives”, however, appear to only capitalize on a recent trend and don’t offer much value to the holder other than the art or other branding elements taking cues from a “blue chip” or a recent hot mint. We would tend to not badge them so as to prompt inexperienced collectors to do more research.
Either way, we will adopt a more rigorous approach in reviewing these types of collections. These reviews will take a longer amount of time, and can lead to a revisiting of our badging criteria to make sure we adapt to ever-changing norms and community expectations.
How can creators apply for the badge?
Via Creator Hub
Should your collection be eligible based on the above criteria, you will have access to the badging portal in the Creator Hub, which uses a 1-click application process. This will then trigger a review, and you can expect to get an acknowledgement from us within 2 days and a final outcome in 4-5 days in most cases.
How can collections lose the badge?
Magic Eden badges collections in its sole discretion and may remove the badge at any time without notice. Below are some example scenarios that may trigger a review which could result in the removal of a collection’s badging status:
Breach of Magic Eden’s Terms of Service
Reports of team or roadmap abandonment, or any suggestion that the project is a confirmed rug, which is usually marked by the deletion of social media accounts, long periods of team inactivity, or credible reports from reputable sources. (Note: After a badge’s removal, it can be restored when a project is officially “derugged”, which effectively means a change in management usually with the holder community’s approval.)
A substantial change to the assets, e.g., hash list, NFT images, project name, which indicates a departure from the original project that was initially reviewed or a failure to meet our content guidelines.
Evidence of questionable practices such as using bots to inflate social media following or number of collection watchers, wash trading or other means to artificially inflate trading volume or manipulating the market (e.g., floor price manipulation).
Reports from widely recognised publications and reputable media sources that the project funds are being used in unlawful or harmful ways and/or the project founders/ team are involved in illegal or criminal activity.
Following a review of a collection’s badging status, we may also consider flagging the collection page or delisting the collection from our marketplace altogether. We may also delist collections that use imagery of, or similar to, the badge in a manner that may mislead the public about the collection’s badging status.