Yuga Labs Teams Up with Magic Eden for NFT Royalty

Yuga Labs and Magic Eden join forces to launch a new Ethereum marketplace, setting a precedent for NFT creator royalties.

Bored apes sitting on a tree

In the ever-evolving world of Web3, a groundbreaking collaboration is setting sail. Yuga Labs, the Web3 titan behind the Bored Ape Yacht Club, and Magic Eden, a leading NFT platform, are charting a course towards a new Ethereum marketplace. This isn't just any marketplace; it's a beacon of hope for creators in the digital space, ensuring their royalties are not just a promise, but a contractual obligation.

The partnership is a testament to the shared vision of both companies: a future where the creators are the lifeblood, the very essence of the ecosystem. They're not just building a marketplace; they're crafting a haven where creators' rights are etched in the blockchain, immutable and ever-lasting.

This move comes at a time when the debate over NFT royalties rages like a storm in the open sea, with many platforms turning their backs on the artists. Yuga Labs and Magic Eden stand united, a lighthouse guiding the way towards fair compensation.

The new marketplace is more than a platform; it's a statement, a commitment to the creators who weave the fabric of the Web3 world. Yuga Labs, with its storied history of empowering NFT holders and pushing the boundaries of the metaverse, alongside Magic Eden, which has become synonymous with cultural moments in the blockchain, are not just joining forces. They're igniting a revolution.

This alliance is not just about today or tomorrow; it's about setting a precedent that will echo through the annals of Web3 history. With Yuga Labs having raised a $450M seed round in March 2022 at a $4B valuation, and Magic Eden's unwavering dedication to the creator ecosystem, this partnership is a powerhouse move. It's a clarion call to all marketplaces: honor the creators, for they are the architects of imagination in this new digital dawn.