{"id":189132,"date":"2023-11-07T23:09:15","date_gmt":"2023-11-07T17:39:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=189132"},"modified":"2023-11-07T23:09:15","modified_gmt":"2023-11-07T17:39:15","slug":"yuga-labs-and-magic-eden-to-launch-ethereum-marketplace-with-enforced-royalties-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/yuga-labs-and-magic-eden-to-launch-ethereum-marketplace-with-enforced-royalties-crypto-news\/","title":{"rendered":"Yuga Labs and Magic Eden to Launch Ethereum Marketplace With Enforced Royalties – Crypto News"},"content":{"rendered":"

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Yuga Labs, a prominent player in the Web3 arena and the creative force behind acclaimed projects like Bored Ape Yacht Club (BAYC), Otherside, CryptoPunks, Meebits, Twelvefold, and 10KTF, revealed an exciting collaboration with Magic Eden, a leading cross-chain NFT platform. The result of this partnership will be the introduction of the Magic Eden Ethereum marketplace, slated for launch before the year\u2019s end. <\/p>\n

Notably, this marketplace will mark a significant milestone as it becomes the very first major Ethereum marketplace with a contractual obligation to uphold creator royalties.<\/p>\n

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We\u2019re thrilled to announce that we\u2019re partnering with @yugalabs<\/a> to launch a new ETH marketplace by the end of the year.<\/p>\n

This will be the first major ETH marketplace to honor creator royalties for all ETH NFT collections.<\/p>\n

Without creators web3 can\u2019t exist. Here\u2019s to supporting\u2026 https:\/\/t.co\/Pqip41jJHt<\/a><\/p>\n

\u2014 Magic Eden (@MagicEden) November 4, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Since as early as 2021, the\u00a0creator royalty debate<\/a>\u00a0has been the hottest subject that, apparently, is so puzzling as to completely hinder the anticipated growth of a truly digital age. We\u2019ve seen industry-leading marketplaces<\/a>, such as OpenSea, Blur,\u00a0Magic Eden<\/a>, X2Y2, and others, continue to go back and forth on whether creator fees should be \u201cmandatory,\u201d \u201coptional,\u201d or flat-out \u201czero.\u201d<\/p>\n

The move underscores the unwavering commitment of both Yuga Labs and Magic Eden to safeguarding the rights and rewards of content creators within the Web3 ecosystem. This joint effort serves as an expansion of their mutual vision, with a primary emphasis not just on ownership but also on enabling creators to earn royalties for their unique artistic creations continuously.<\/p>\n

Creator Royalties As Non-Negotiable <\/h2>\n

In a resolute stance that distinguishes them from other marketplaces, Yuga Labs and Magic Eden have made it abundantly clear that respecting creator royalties is non-negotiable. Going forward, Yuga Labs will exclusively collaborate with platforms that share these principles, ensuring that creators receive equitable treatment for their contributions.<\/p>\n

\u201cWe see this partnership with Magic Eden as a win for the whole ecosystem,\u201d Alegre said in a press release shared with nft now.<\/p>\n

\u201cWe appreciate everyone in the space taking steps in this direction and invite like-minded participants to get on board. Magic Eden is putting their money where their mouth is, and together, we are supporting the building of an\u00a0Ethereum\u00a0marketplace that will back creators, without whom Web3 would not exist.\u201d<\/p>\n

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\u201cWe see this partnership with Magic Eden as a win for the whole ecosystem.\u201d<\/p>\n

Daniel Alegre<\/cite><\/p><\/blockquote>\n<\/figure>\n

This announcement aligns with Yuga Labs\u2019 ongoing commitment to addressing some of the most fundamental challenges faced by creators and builders today, as the company remains steadfast in its mission to cultivate a blockchain-based cultural landscape. <\/p>\n

The Magic Eden marketplace will provide creators with an opportunity to showcase their collections within an ever-evolving environment, fostering a fairer and more equitable ecosystem for all involved.<\/p>\n

Jack Lu, CEO and co-founder of Magic Eden, echoed this sentiment, saying, \u201cWe remain committed to the betterment of the Web3 creator ecosystem, steadfast in our belief that we should champion creators who are the heart and soul of the industry. Right now, it\u2019s a priority to provide creatives with the support they deserve with creator royalty programs. In collaboration with Yuga Labs, we\u2019re set to develop an Ethereum marketplace that resets the standard for royalty allocation, and we are hopeful this action will reverberate throughout the ecosystem.\u201d<\/p>\n

Yuga Labs and Magic Eden\u2019s partnership marks a pivotal moment in the Web3 space, as they collectively strive to create a more just and rewarding environment for content creators. This collaboration, built on the Ethereum blockchain, places a firm emphasis on respecting creator royalties and sets a high standard for the industry, with Yuga Labs pledging to uphold these principles exclusively.<\/p>\n

The post Yuga Labs and Magic Eden to Launch Ethereum Marketplace With Enforced Royalties<\/a> appeared first on nft now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yuga Labs, a prominent player in the Web3 arena and the creative force behind acclaimed projects like Bored Ape Yacht Club (BAYC), Otherside, CryptoPunks, Meebits, Twelvefold, and 10KTF, revealed an exciting collaboration with Magic Eden, a leading cross-chain NFT platform. The result of this partnership will be the introduction of the Magic Eden Ethereum marketplace, […]<\/p>\n","protected":false},"author":2,"featured_media":189133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[245,239,243,242,244,202,184,241,240,189],"class_list":["post-189132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft","tag-azuki","tag-board-ape","tag-erc115","tag-erc721","tag-metamask","tag-nft","tag-nft-technology","tag-opensea","tag-sbt","tag-soul-bound-token"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/189132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=189132"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/189132\/revisions"}],"predecessor-version":[{"id":189135,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/189132\/revisions\/189135"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/189133"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=189132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=189132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=189132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}