Magic Eden and Yuga Labs Launch Ethereum Marketplace with Creator Royalties
Magic Eden and Yuga Labs have partnered to launch a new Ethereum marketplace that prioritizes creator royalties. This collaboration aims to support a thriving web3 ecosystem by valuing the contributions of creators. The initiative includes the introduction of The Magic Eden Creator’s Alliance, a movement dedicated to establishing a sustainable royalty framework across the industry. This alliance is supported by various projects and companies committed to respecting creator royalties.
Key Features of the Ethereum Marketplace
- Magic Eden’s Ethereum marketplace offers access to premier mints from top creators.
- Users can participate in an industry-leading rewards program and earn Diamonds for their activity on the platform.
- The rewards program includes benefits for delisting and relisting NFTs on the marketplace.
Greg Solano, CEO & Co-Founder of Yuga Labs, emphasizes the importance of royalties for creators, describing them as crucial for fostering innovative activations within web3. Jack Lu, CEO and co-founder of Magic Eden, highlights the essential role of collaboration with creators and the community in building a marketplace that not only respects creator royalties but also promotes industry growth.
Special NFT Art Piece and Rewards
To celebrate the launch of the Ethereum marketplace, Magic Eden, Yuga Labs, and members of the Creator’s Alliance have unveiled a special NFT art piece. Created by Clon of Cool Cats, this artwork symbolizes collaboration and innovation within the web3 space. A total of 1,000 commemorative NFTs will be distributed. Half of these NFTs will be randomly airdropped to users who engage with the platform during its first month. The remaining 500 NFTs will be rewarded to users whose transactions contribute the most to creator royalties.
Future Innovations and Success in Bitcoin NFT Market
The launch of the Ethereum marketplace is part of Magic Eden’s broader 2024 innovation agenda. This agenda includes the introduction of a cross-chain, self-custody wallet, a cross-chain rewards program, and contributions to Non-Fungible DAO. The Ethereum marketplace was initially announced in November 2023, with a commitment from both Magic Eden and Yuga Labs to ensure creators receive their rightful royalties.
In addition to the Ethereum marketplace launch, Magic Eden’s Bitcoin NFT market has experienced significant success. Over the past month, it has recorded over $100 million in trading volume and $2 million in transaction fees. This surge in activity reflects sustained interest from both the cryptocurrency community and institutional investors.
Hot Take: Magic Eden’s Ethereum Marketplace Sets New Standards for Creator Royalties
The launch of Magic Eden’s Ethereum marketplace in collaboration with Yuga Labs marks a significant milestone for the industry. By prioritizing creator royalties and establishing The Magic Eden Creator’s Alliance, this partnership sets new standards for valuing the contributions of creators in the web3 ecosystem. The introduction of an industry-leading rewards program and special NFT art piece further incentivize user engagement and support fair compensation for creators.
Looking ahead, Magic Eden’s extensive innovation agenda promises exciting developments such as a cross-chain wallet and contributions to Non-Fungible DAO. With the success of its Bitcoin NFT market, Magic Eden demonstrates its ability to attract both cryptocurrency enthusiasts and institutional investors.
As the crypto landscape continues to evolve, platforms like Magic Eden are paving the way for a more inclusive and sustainable industry where creators are properly recognized and rewarded for their work. By participating in this Ethereum marketplace, you can contribute to the growth of web3 and support the creators who drive innovation in the crypto space.
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