Yuga Labs, Magic Eden Unveil ETH NFT Marketplace
Yuga Labs and Magic Eden are partnering to launch an Ethereum NFT marketplace, ensuring creators receive their right royalties.
The partnership aims to strengthen the digital collectibles ecosystem by fostering creativity and innovation. Magic Eden will share a portion of secondary market sales proceeds from their NFT collections with Yuga Labs.
The collaboration is in response to OpenSea’s announcement about discontinuing its own chain royalty enforcement tool, Operator Filter. Yuga Labs has previously reduced its support for OpenSea due to its decision to discontinue its own chain royalty enforcement tool.
The partnership aims to prioritize creator rights and foster creativity in the digital collectibles ecosystem.
(With inputs from Shikha Singh)
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