News

Magic Eden Ethereum Marketplace Will Go Live Tomorrow

Key Points:

Yuga Labs and Magic Eden team up for a fairer NFT marketplace, prioritizing creator royalties.
Yuga Labs takes a stand, refusing to work with marketplaces not supporting all creator royalties.
Magic Eden Ethereum marketplace offers innovative features, as Yuga Labs focuses on protecting creators.

Yuga Labs, a prominent player in the NFT space, has made a groundbreaking announcement regarding the launch of the Magic Eden Ethereum marketplace.

Yuga Labs and Magic Eden Launch Fair NFT Marketplace

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 Ethereum Marketplace Unveils Innovative Features

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.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.