Yuga Labs and Magic Eden to Launch First Ethereum Marketplace with Creator Royalty Obligation

Yuga Labs, known for acclaimed projects like Bored Ape Yacht Club and CryptoPunks, has joined forces with Magic Eden, a leading cross-chain NFT platform, to introduce the groundbreaking Magic Eden Ethereum marketplace. This marketplace represents a significant milestone as it is the first major Ethereum platform to make creator royalties non-negotiable.

The creator royalty debate has been a hot topic in the industry since 2021, with marketplaces debating whether creator fees should be mandatory, optional, or zero. Yuga Labs and Magic Eden's firm stance sets them apart, and they will exclusively collaborate with platforms that share their commitment to respecting creator royalties.

This partnership reflects their shared vision of not only promoting ownership but also enabling creators to earn royalties continuously for their artistic creations. The goal is to create a fair and equitable ecosystem for all participants.

Jack Lu, CEO and co-founder of Magic Eden, expressed their dedication to championing creators and setting a new standard for royalty allocation in the industry. Yuga Labs sees this partnership as a win for the entire ecosystem and invites like-minded participants to join in supporting creators.

The Magic Eden Ethereum marketplace, set to launch before the year's end, is a significant step in creating a more just and rewarding environment for content creators in the Web3 space. This collaboration on the Ethereum blockchain establishes a high standard for respecting creator royalties and sets a new precedent for the industry, with Yuga Labs committed to these principles exclusively.