Zenix Launcher - News đź“° | Bored Ape Creator Yuga Labs and Magic Eden Launching Ethereum NFT Marketplace That Enforces Royalties
Multi-chain NFT marketplace Magic Eden announced Saturday that it will launch a new Ethereum platform by the end of the year in collaboration with Bored Ape Yacht Club creator Yuga Labs—with a firm commitment to honor creator royalties on NFT sales. The companies said in a statement that Magic Eden will have a “contractual obligation” to pay Yuga Labs its share of secondary market sales of its future NFT collections.
“We’re very much happy to put our money where our mouth is,” Magic Eden co-founder and CEO Jack Lu told Decrypt. Lu said that Magic Eden’s overhauled Ethereum marketplace would use new smart contracts—which contain the code that powers decentralized apps (dapps)—with technical innovations that it says will ensure that royalties are paid out during secondary market sales.
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