Yuga Labs, creator of Bored Ape Yacht Club, is teaming up with top NFT marketplace Magic Eden to launch a new Ethereum">Ethereum-based NFT marketplace. The joint effort aims to properly enforce royalty payments to creators.
In their announcement, Magic Eden emphasized supporting creators and ensuring they receive exact royalties from sales. The collaboration looks to strengthen the NFT ecosystem through this creator-first focus.
Yuga Labs also recently reduced support for OpenSea over its decision to remove the royalty-enforcing Operator Filter tool. Meanwhile, Bored Ape floor prices rebounded to 30 ETH despite overall NFT market struggles.
Additionally, Magic Eden is expanding support for Solana-based cNFTs to boost minting and accessibility. The partnership combines two NFT industry leaders and could provide a jolt amidst declining trade volumes.
By making royalty compliance a centerpiece of their new marketplace, Yuga Labs and Magic Eden hope to set a standard for properly compensating creators in the evolving web3 space.
