Following its September 12 launch, MetaShield, which was reportedly launched in partnership with NFT marketplace and aggregator Coral Cube, received mixed reactions from the NFT community, which was divided on whether NFT marketplaces should protect creator rights or cut royalty fees to make NFTs cheaper for collectors.
The NFT royalty enforcement tool is intended to assist NFT authors to identify and blur NFTs that may have been sold without avoiding creator payments.
On September 14, Magic Eden defended its new tool on Twitter, claiming that “custom” royalty marketplaces are punishing some of the hardest working creators today.
The new tool was released just a few weeks after NFT marketplace X2Y2 announced a new feature that allows purchasers to choose whether or not to pay a royalty charge — and, if so, how much — when purchasing an NFT. In its most recent discussion, Magic Eden clarified that MetaShield was created to protect authors rather than punish purchasers.
MetaShield, according to Magic Eden, was created to allow authors to follow Solana NFTs listed with unique royalties and take action as needed to safeguard their brand.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
This website uses cookies.