Yuga Labs and Magic Eden Teases Royalty-Friendly Marketplace

Yuga Labs — the prominent NFT company behind remarkable projects like Bored Ape Yacht Club and CryptoPunks — is excitingly collaborating with the leading cross-chain NFT marketplace, Magic Eden, to introduce a marketplace before this year’s end. 

Ending 2023 on a positive note, what will set this marketplace apart from the rest is its steadfast commitment to enforcing creator royalties, pioneering as the first top-tier Ethereum marketplace to uphold such standards. 

Overriding Creator Royalty Woes

Creator royalties are an ongoing debate, spanning back as early as 2021. Industry-leading marketplaces like Blur, OpenSea, X2YE, and even Magic Eden, among others, have switched between mandatory and optional creator fees to none whatsoever.

For this reason, Magic Eden is facing backlash on Crypto Twitter, with some users stating the company has played a crucial role in complications arising from royalty policies.

Nonetheless, Yuga Labs is no stranger to advocating for royalty fees, leaving OpenSea as a consequence of the marketplace ceasing enforced creator royalties. Sticking to its guns, the Yuga Labs-developed marketplace, co-created with Magic Eden, will emphasize ownership and continuous earnings of royalties for artistic creations. 

Honoring royalty payments will be non-negotiable. The ecosystem will only spotlight projects that share the same principles, ensuring all creators receive fair compensation for their creative endeavors. 

As the two Web3 powerhouses unite, this highly anticipated marketplace is poised to set a high standard, fostering an environment that is significantly more advantageous for NFT curators. 

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