Yuga Labs, Magic Eden unveil Ethereum NFT marketplace
In a statement shared on their X platform, Magic Eden expressed enthusiasm for collaborating with Yuga Labs and their joint efforts in building an ETH marketplace. They emphasized the importance of supporting creators, as they believe that without them, web3 cannot thrive. This partnership aims to prioritize the rights of creators by ensuring they receive their exact royalties from NFT sales. Together, they aim to strengthen the digital collectibles ecosystem by fostering creativity and innovation.
Via this collaboration, there will be an obligation where Magic Eden will be responsible for sharing a portion of secondary market sales proceeds from their NFT collections with Yuga Labs. Yuga Labs has recently taken a position regarding OpenSea and royalty enforcement. They have decided to reduce their support for OpenSea due to OpenSea’s announcement about discontinuing its own chain royalty enforcement tool called Operator Filter. Introduced in November 2022, the Operator Filter allowed creators to restrict sales of their NFTs to platforms that offer royalties. The intention was to filter out platforms that didn’t adhere to these principles, including ones like Blur.
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@Metaverse_Defi_Nfts_Trading
