Magic Eden, a top cross-chain NFT platform, and Yuga Labs, the firm behind Bored Ape Yacht Club (BAYC), Otherside, CryptoPunks, Meebits, Twelvefold, and 10KTF, have announced a strategic agreement. By the end of the year, the partnership hopes to open up a new Magic Eden Ethereum marketplace, which would enable content creators to earn a fair and lucrative place on the web3. One of the biggest accomplishments in the NFT area will be given priority in this marketplace: guaranteeing that creators receive their due royalties.
Yuga Labs and Magic Eden highlight the value of ownership and making sure that authors receive just compensation for their original works by utilizing the Ethereum blockchain. Unlike markets that disregard the interests of creative entrepreneurs, both companies are dedicated to maintaining creator royalties. Yuga Labs will only collaborate on new collections with markets that follow these guidelines, guaranteeing that authors receive just compensation.
Yuga Labs CEO Daniel Alegre encourages like-minded people to join them, viewing the relationship with Magic Eden as a beneficial step for the ecosystem. Magic Eden exhibits its commitment to assisting creators, who form the backbone of the web3 sector. This news is in line with Yuga Labs’ goal of fostering a blockchain-based culture while tackling the difficulties experienced by builders and artists. All producers will be able to display their collections on the Magic Eden marketplace, promoting a more equitable ecology. Magic Eden’s co-founder and CEO, Jack Lu, emphasises the company’s dedication to supporting creators and the web3 creator ecosystem. Giving creatives the recognition and resources they deserve through creator royalty programs is their top goal.