{"id":24372,"date":"2023-11-04T13:25:32","date_gmt":"2023-11-04T13:25:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/yuga-labs-and-magic-eden-announce-new-ethereum-nft-marketplace-to-protect-creator-royalties\/"},"modified":"2023-11-04T13:25:32","modified_gmt":"2023-11-04T13:25:32","slug":"yuga-labs-and-magic-eden-announce-new-ethereum-nft-marketplace-to-protect-creator-royalties","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/yuga-labs-and-magic-eden-announce-new-ethereum-nft-marketplace-to-protect-creator-royalties\/","title":{"rendered":"Yuga Labs and Magic Eden announce new Ethereum NFT marketplace to protect creator royalties"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/yuga-labs-bayc-nft-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/yuga-labs-bayc-nft-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/yuga-labs-bayc-nft-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/11\/yuga-labs-bayc-nft-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Yuga Labs and Magic Eden plan to launch the new Magic Eden ETH marketplace before the end of 2023.<\/span><\/li>\n<li><span style=\"font-weight: 400\">The startups claim this will be the first major Ethereum marketplace \u201ccontractually obligated\u201d to protect creator royalties.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Yuga Labs CEO Daniel Alegre says the new ETH marketplace is a win for the web3 ecosystem.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Yuga Labs, the Web3 startup behind the popular Bored Ape Yacht Club (BAYC), <a href=\"https:\/\/coinjournal.net\/news\/yuga-labs-shifts-focus-to-metaverse-project-otherside-after-restructuring\/\">Otherside<\/a>, Meebits and CryptoPunks, is partnering cross-chain <a href=\"https:\/\/coinjournal.net\/nfts\/\">NFT platform<\/a> Magic Eden to launch a new Ethereum marketplace.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to an announcement posted today on X, Yuga Labs said the collaboration with Magic Eden is for the launch of Magic Eden ETH marketplace, set to become the first Ethereum NFT marketplace to feature a contractual obligation to protect creator royalties.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The blockchain startup expects the marketplace to be live by the end of this year.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Planting something new for all creators.<\/p>\n<p>We\u2019re partnering with Magic Eden to launch the new Magic Eden ETH marketplace \u2013 the first major ETH marketplace contractually obligated to honor creator royalties.<\/p>\n<p>The marketplace will launch end of 2023, more details soon. <a href=\"https:\/\/t.co\/iDrBM46nHk\">pic.twitter.com\/iDrBM46nHk<\/a><\/p>\n<p>\u2014 Yuga Labs (@yugalabs) <a href=\"https:\/\/twitter.com\/yugalabs\/status\/1720757313676488927?ref_src=twsrc%5Etfw\">November 4, 2023<\/a><\/p>\n<\/blockquote>\n<h2><span style=\"font-weight: 400\">Creators are critical to Web3<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Yuga Labs and Magic Eden\u2019s endeavour comes as the NFT space grapples with the issue of <a href=\"https:\/\/coinjournal.net\/news\/ethereum-based-nft-royalties-have-hit-1-8-billion-galaxy-digital\/\">creator royalties<\/a>, particularly as major marketplaces slash fees or scrap them altogether. The two startups are unequivocal about the need to respect creative entrepreneurs, stating in a <a href=\"https:\/\/www.prnewswire.com\/news-releases\/yuga-labs-and-magic-eden-to-collaborate-on-a-new-ethereum-marketplace-to-protect-creator-royalties-301977665.html\" target=\"_blank\" rel=\"noopener\">press release<\/a> that the issue of \u201ccreator royalties is non-negotiable.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The BAYC creator says it will, going forward, exclusively partner with marketplaces that seek to protect creators.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cWe see this partnership with Magic Eden as a win for the whole ecosystem,\u201d Yuga Labs CEO Daniel Alegre noted.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">According to him, creators are key to Web3, and without them, the ecosystem won\u2019t thrive.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Magic Eden CEO and co-founder, Jack Lu said:<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400\">\u201cRight 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 are hopeful this action will reverberate throughout the ecosystem.\u201d<\/span><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/yuga-labs-and-magic-eden-announce-new-ethereum-nft-marketplace-to-protect-creator-royalties\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Yuga Labs and Magic Eden plan to launch the new Magic Eden ETH marketplace before the end of 2023. The startups claim this will be the first major Ethereum marketplace \u201ccontractually obligated\u201d to protect creator royalties. Yuga Labs CEO Daniel Alegre says the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24372"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24372"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24373"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}