MAGIC EDEN'S MAGIC TICKETS CONTROVERSY

Summary from the TLDR Crypto newsletter

In early 2022, NFT marketplace Magic Eden (ME) airdropped Magic Tickets to users, promising airdrops, points, and whitelist sports. It also introduced the Magic DAO, but it was never implemented, and mentions of the Magic Tickets have slowly been removed from ME's blogposts. When ME's diamonds were introduced as part of its points program, there was a one-time exchange for users - there is now no planned utility for tickets. Users are frustrated with the small conversion value and fees that the marketplace generated from speculative ticket trading.