Friday Night Magic (or FNM) is a format of Magic: The Gathering tournaments, held on Friday nights in gaming stores and associations all across the world. They are designed to be a beginner-friendly introduction to organized play.
To make it easier on newer players, FNM tournaments are run at Regular rules enforcement level, which is the least stringent REL. This is used to encourage players to learn the correct way to play, readying them for more strict tournaments. Friday Night Magic tournaments can be one of four Formats: standard constructed, booster draft, sealed deck, or Two-Headed Giant. The Two-Headed Giant format varies by month, but is usually sealed deck.
As an incentive to encourage regular participation into FNM, every month Wizards of the Coast releases new promotional foil cards to be distributed at FNM events. These tournament-legal promos, which are always reprints of older cards, sometimes acquire substantial secondary market value if there is enough demand for the card. FNM foils are distributed only through FNM tournaments, and Wizards instructs stores to give out the cards according to the following guidelines:
Winning Prizes - A copy of the current month's promotional card is awarded to the winner and runner-up of the tournament.
Door Prize - Two copies of the promotional card are awarded at random to players who didn't place first or second.