'02.27': The Magic Eden X Yuga Labs Ethereum- Based And Royalty-Enforced Marketplace Is Coming This Month!
The Bored Ape Yacht’s mascot, Curtis, and Magic Eden’s mascot, Emmy, shared a fist bump that sent waves around the swamp and the broader Web3 ecosystem as the pair announced that their Ethereum-based, royalty-enforced marketplace would be opening its digital doors on February 27th.
Mutant Monday was even more insane than usual around the Bored Ape Yacht Club as the NFT Marketplace Magic Eden announced the launch of its new Ethereum marketplace, built in collaboration with Yuga Labs, set to launch on February 27th.
“02.27,” Magic Eden tweeted along with a video of Curtis and Emmy fisting bumping one another. “Countdown live.”
Today’s announcement comes just five days after Magic Eden shared its ‘Creator’s Alliance’ list featuring prominent builders in the ETH ecosystem like Yuga Labs, Pudgy penguins, and Azuki, that all plan to support Magic Eden’s new marketplace.
“We believe that creators are the lifeblood of web3,” Magic Eden tweeted on February 7th. “That’s why we’ve started the Creator’s Alliance – a coalition of the top NFT projects in web3, who are focused on promoting a sustainable royalty framework to empower creators and grow the NFT ecosystem. Together, we plan to advocate for a better industry that safeguards creators and encourages innovation. A big part of this work is supporting marketplaces that enable creators to earn royalties at the rate they set. Yuga and Magic Eden are committing to this philosophy and we welcome others seeking to join the cause. It starts with the Creator’s Alliance and builds with the launch of the ME marketplace with Yuga Labs.”
As the Bored Ape Gazette previously reported, Yuga Labs Co-Founder Garga first announced that Yuga Labs was collaborating with Magic Eden on an Ethereum marketplace at ApeFest 2023, following Opensea’s decision to make all Creator Royalties optional by February 29th, 2024.
"It sucks that a lot of marketplaces have turned their backs on the creators that helped build the platforms over the past two years,” Garga said to the club. “And one of the most frustrating parts of that is the flipflopping. There’s a whole sea of marketplaces that want to support creators and then not the next. So it goes us thinking what would it be like if we could get one of these marketplaces to legally, contractually, and bindingly support creators in perpetuity. And that’s why I’m pretty stoked to have our sponsor magic Eden here."
The Bored Ape Gazette will continue to follow Magic Eden and Yuga Labs' Ethereum marketplace and will bring you more details about the platform's grand opening later this month.