Winners Announcement: Magic Eden Creator Monetization Hackathon

It’s time to announce the winners of the Magic Eden Creator Monetization Hackathon
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It’s time to announce the winners of the Magic Eden Creator Monetization Hackathon! 

In case you missed it, on October 28th, Magic Eden launched our Creator Monetization Hackathon. Our hackathon invited developers to experiment and innovate with solutions enabling creators in the Solana NFT space to earn royalties and identify alternative monetization models. We dedicated $270K to a prize pool for the hackathon and are excited to announce the winners today.

We want to thank the Solana ecosystem partners and Solana developers who helped us put this hackathon together. Over the course of the hackathon, there were 9 live workshops from Quicknode, Galaxe, Thirdweb, Darkblock, Raindrops, SolanaFM, Phase Labs, Helius, Horizon Labs, and a giveaway from Alchemy. The workshops helped developers utilize the tools presented and inspired innovation in their builds. Check out recordings for all the workshops here. We also want to thank the group of Solana developers, creators, and builders who took time to judge and review all the submissions this past week-  @aeyakovenko@evesinfinity@draxxts@flawmz@statikdev@voshy@libertysquareHQ@baalazamon@0xMert_, and @immature69.

Over 150 projects were submitted from over 500 registrations during our six-week hackathon. From all these submissions, our judges have selected 15 projects split up within 4 Hackathon tracks to award today. You can browse through all of the project submissions by track on our Gitcoin page here.

We are now pleased to announce the results of the Magic Eden Creator Monetization. Let’s give a round of applause for our winners…

Future of Royalties Track - $155K Total in Prizes

For the Future of Royalties track, we challenged participants to reimagine how royalties should work. Ideas can range from royalty incentivization to more complex models such as dynamic royalties. We want to empower developers with the platform and tools to come up with insightful ways to manage and motivate the payment of royalties.

First place, $80,000: Regalia
Regalia is a fully functioning royalty-tracking and fulfillment tool linked to the Regalia Oracle, which provides developers with a framework through which they can easily build their own royalty tracking tools and serves as a source of truth for royalty fulfillment.

The Regalia Portal is an implementation of Regalia Oracle and is a full-fledged royalty tracking and fulfillment app for project creators and community members alike, ready for use today with plans on next steps of development outlined.

Their tool suite provides developers & creators with a boilerplate & API framework to use as a springboard, upon which they can very easily develop their own set of royalty management tools, all while being sure that their tools will be able to communicate with others platforms that are built on top of or connect to Regalia.

Second Place, $30,000: CPL Dashboard 

  • CPL analyses and aggregates royalty payments across all marketplaces in realtime and makes this data available in a pretty dashboard. It also includes a fully-featured API for integration into any third party application, such as staking, verification etc.
  • Demo Site
  • Demo Video
  • Github

Third Place, $20,000: Decentralised Social

  • Decentralised Social aims to incentivize royalties through a social system and governance. This social-graph based DAO governance tool brings transparency and aligned incentives to royalties by allowing the community and the team to put forward on-chain proposals for tasks that would benefit the project/community, which get funded directly from the DAO-governed Royalties treasury. Align ensures that consumer funded royalty payments are aligned better with a project & product vision, while user reputation is gained through successful proposals.
  • Demo Presentation
  • Demo Video
  • Github

Fourth Place, $15,000: ToBeContinued

  • There's a lack of trust and collaboration between creators in the current world. ToBeContinued is a collaboration platform for people to build with NFTs of attributes, clothes, accessories, etc. and mint the work as an NFT. ToBeContinued keeps track of royalties for base NFTs on its platform. This means that anytime there is a sale of a base NFT with accessory minted, the base NFTs’ creator royalties will always get properly attributed and rewarded. Thus, when the resulting NFT is being sold, royalties will also be sent to creators of the attributes. 
  • Demo Site
  • Demo Video
  • Github

Fifth Place, $10,000: Karmabot

  • Karmabot is a platform and discord bot to track, manage, and incentivize royalty payments for Solana communities & creators. Karmabot aims to provide creators with the tools they need to incentivize & increase voluntary royalty payments via gamification, rewards, and automated discord notifications.
  • Demo Site
  • Demo Video
  • Github

We appreciate all the Future of Royalties Track submissions; specific submissions to this track can be found here.

Ancillary Revenue Opportunities Track - $75K Total in Prizes

Creators should be equipped with monetization options outside of royalties alone. This track touched upon helping NFT creators to develop those additional sources of income and monetization opportunities, outside of royalties.

First place, $30,000: AuroraLite

AuroraLite is a subscription based revenue model for Solana projects. Projects can offer their community a subscription rank that is purchasable inside their discord to support the project by paying a monthly fee (SOL).

If users decide to buy this subscription they will be granted a specific role(subscription role) inside the discord that the project selected before which offers for example exclusive content/access. Using AuroraLITE projects can set up a unique subscription experience for their users and can receive a monthly revenue stream.

Second place, $20,000:  Web3 Music Vault

  • The Web3 Music Vault gives NFT Music Fans the ability to unlock NFT music for as long as they possess an NFT or to get temporary access via a content-accessed NFT.
  • Demo Site
  • Demo Video
  • Github

Third place, $15,000: Creator Rent

  • The creator-rent smart contract allows NFT collection owners to start a rent collection plan for their NFT collection by setting the rent collection period (ex. once a month) and a rent price. This program allows NFT collection owners to make additional revenues by token gating functionality to NFT owners who have paid their rent (ex access to discord server).
  • Demo Video
  • Github

Fourth place, $10,000: NFT Fungible Printer

  • NFT holders can create fungible copies against the original NFT, and the copied NFT inherits the original NFT's royalty & creator info. With NFT Fungible Printer, the holder can be a distributor of the NFTs, and it brings a new creator & ownership economy to the NFT space.
  • Demo Site
  • Demo Video
  • Github

We appreciate all the Ancillary Revenue Opportunities Track submissions; specific submissions to this track can be found here.

Bonus Bounty - Royalty Tracking API Track - $20K Total in Prizes

Our partners at Coral Cube released a free royalty tracking API during the Hackathon, and we feel this can be utilized for projects to create royalty tracking developments. Additionally, to give developers more options, our friends at Helius offer an API which achieves the same result.

This bonus track is awarded to submissions that successfully implement the Coral Cube or  Helius API for royalty payment tracking purposes.

First place, $15,000: CPL Dashboard

CPL utilized the Helius API to aggregate royalty payments across all marketplaces in real time. Not only does this populate the data via Helius into a clean and user friendly data dashboard, but creators can take an actionable next step with the data collected, such as influencing staking ability. 

Second Place, $5,000: Spire

Spire, powered by the Helius API for royalty tracking, is a Solana-focused on-chain data platform that aims to provide in-depth data and insights to add value to the Solana ecosystem. Focusing on analyses we think are interesting, we provide a place where users and developers can regularly check for Solana ecosystem information, as well as deeper dives into specific areas.

We appreciate all the Royalty API track submissions here; specific submissions to this track can be found here.

Special - Judges Awards - $20K Total in Prizes

Including solutions that may not fall neatly in the categories, other solutions the judges would like to commemorate or see developed further, we created space for honorable mentions.

The below projects earned special awards prizes!

Judges’ Award, $5,000: Destruct

  • DESTRUCT is based on the idea of 'life-span'. Each NFT gets a 24 hour countdown which starts whenever a person buys an NFT without royalties. The countdown is terminated if royalties/fee are paid on projects website or when it's sold to another person with royalties. Monetisation for the project is based on the tweaks that can be done with the countdown and metadata: prolongation/termination of countdown, changes in metadata (rarity, attributes, benefits) based on the countdown, 'revival' of NFT through payment.
  • Github
  • Demo Video

Judges’ Award, $5,000: Helm

  • Helm is an alternative for digital content creators to Fund, Publish and Sell their digital work. Game developer? Fund your game idea by selling funders NFTs - these NFTs will have access to a revenue/royalty share of future sales. Also, publish your game on the website and access the marketplace to sell it for Sol. These funds will go back to holders of your funder’s NFT.
  • Github
  • Demo Site

Judges’ Award, $5,000: HelioFi

  • Helio is a Web3 payments platform that used this hackathon as an opportunity to build some new key components to make on-chain, subscription payments easy to implement for creators. Pay Stream functionality was created to enable monthly subscriptions and pay-outs. Helio Play allows creators to embed a video or audio file into a Helio Pay Stream and let users unlock, pay and Play it with a single tap of their Solana wallet. In addition, Helio has built a new Discord bot that allows NFT projects to assign/remove premium roles based on such monthly subscription payments.
  • Github
  • Demo 

Judges’ Award, $5,000: Pity Button

  • We all know how memeability works sometimes in the Degen culture of Solana, and the judges loved this one. Pity Button is exactly as it sounds, a pity button that creators can set up to have send sol to their project out of sheer pity.
  • Github
  • Demo Site

We appreciate all the submissions and hope this track helps to recognize honorable mentions!

Thank you to all who spectated, built, submitted, attended, presented & judged! We hope this is only the beginning of experimentation and continued development of solutions for royalties and creator monetization. 

Congratulations to the winners & everyone involved!