Yuga Labs Announces Magic Eden Ethereum Market Launch and Ends Cooperation with Non-Royalty Supporti

EDEN ethereum LABS LAUNCH 2024-02-27 95

According to PANews, Yuga Labs announced on Twitter that the Magic Eden Ethereum market will launch tomorrow, marking the first major market in collaboration with creators. In addition, Yuga Labs will cease cooperation with all NFT markets that do not support creator royalties starting tomorrow. This means that Yuga Labs' collections with royalty filters can only be traded on markets that respect creator royalties at the protocol level.

The Block Research analyst Steven Cheng commented on the development, stating that the majority of royalty-generating NFTs in Yuga Labs' collections belong to the Bored Ape Yacht Club and Mutant Ape Yacht Club brands, which are not affected by this change. Therefore, the update does not have a significant impact on Yuga Labs in terms of royalty revenue. However, it does encourage the team to build its Otherside series and provide value for it.