Yuga Labs has announced the launch of the Magic Eden Ethereum marketplace, positioning itself as a creator-friendly platform. Collections associated with their brand, featuring royalty filters, will only be tradable on platforms that enforce creator royalties at the protocol level.
More than an Ordinary Marketplace
Industry experts consider this launch to be more than just the introduction of another marketplace. They see it as a proactive measure towards promoting ethical NFT practices and empowering creators in the digital space. One of the most significant aspects of Magic Eden is the implementation of contractual royalty enforcement, which highlights the importance of royalties in providing creators with a reliable income stream.
The platform will no longer support marketplaces that do not enforce universal royalty standards. This shift underscores Magic Eden’s commitment to prioritizing platforms that respect creator rights and fair compensation practices.
Due to this change in policy, well-liked collections such as Otherside Expanded, Vessels, Maras, Koda, and several 10KTF collections will be shifting to platforms that support these principles. This shift is in line with the wider trend in the NFT community towards equitable practices, openness, and long-term viability.