News Explorer — Magic Eden, Yuga Labs Team up to Launch Ethereum Platform That Honors Creator Royalties on NFT Sales

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Nov 4, 12:01 pm

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Magic Eden, Yuga Labs Team up to Launch Ethereum Platform That Honors Creator Royalties on NFT Sales

Multi-chain NFT marketplace Magic Eden will launch a new Ethereum platform in collaboration with Bored Ape Yacht Club creator Yuga Labs. The platform will have a contractual obligation to pay Yuga Labs its share of secondary market sales of its future NFT collections, ensuring that creator royalties are honored. The technical details of the platform will be revealed before its launch, but it will use the standard ERC-721 Ethereum non-fungible token (NFT) standard.

Multi-chain NFT marketplace Magic Eden will launch a new Ethereum platform in collaboration with Bored Ape Yacht Club creator Yuga Labs. The platform will have a contractual obligation to pay Yuga Labs its share of secondary market sales of its future NFT collections, ensuring that creator royalties are honored. The technical details of the platform will be revealed before its launch, but it will use the standard ERC-721 Ethereum non-fungible token (NFT) standard.

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