Key Points:
Set to go live tomorrow, the Magic Eden Ethereum marketplace marks a significant shift in prioritizing creator rights and fair compensation.
In a bold move, Yuga Labs has declared that they will cease collaboration with marketplaces that do not uphold all creator royalties. This means that collections with royalty filters will only be tradable on platforms that ensure royalty enforcement at the protocol level. This initiative aims to establish a fair and sustainable environment for creators, fostering innovation and creativity within the NFT community.
Magic Eden promises innovative features such as personalized collector pages and loyalty programs, alongside contractual royalty enforcement. This commitment reflects the growing importance of royalties in the NFT market, providing designers with a steady income stream to fuel their creativity.
Moreover, Yuga Labs has outlined a policy change that will withhold support and funding from marketplaces that fail to honor creator royalties. While flagship collections like Bored Ape Yacht Club and Mutant Ape Yacht Club will remain unaffected, Yuga Labs emphasizes its dedication to protecting newer collections and promoting a creator-centric ecosystem.
With the launch of Magic Eden Ethereum marketplace and Yuga Labs’ firm stance on royalty enforcement, the NFT space is poised for a new era focused on fairness and transparency, ensuring that creators receive the recognition and compensation they deserve.
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. |
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