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  • Writer's pictureKyle

LAND HO: Magic Eden And Yuga Labs' Ethereum-Based And Royalty-Enforced Marketplace Opened Today!

Land ho! Magic Eden and Yuga Labs' Ethereum-based, royalty-enforced marketplace officially opened this morning!


Seven months after NFT marketplace Opensea announced that its platform would make all creator royalties optional, the Bored Ape Yacht Club’s mascot Curtis, along with the Ethereum Creator's Alliance, left behind the choppy waters of optional royalties and landed in the royalty-enforced harbors of Magic Eden this monring!





“Better waters,” Magic Eden tweeted .“Ethereum marketplace now live. After years of creators feeling sidelined and communities losing their spark, we’re bringing the fun and creativity back to Ethereum NFTs.”





To kick off trading, Magic Eden is rewarding NFT traders who buy and sell Yuga Labs NFTs with a 50% Diamond reward point bonus.


As the Bored Ape Gazette previously reported, Diamonds are the reward points for Magic Eden’s cross chain reward program covering the Bitcoin, Solana, Polygon, and Ethereum ecosystems.





“The cross-chain rewards program built for everyone,” Magic Eden states on its website. “From collectors to creators and traders, we're building the biggest, best and most rewarding platform ever that pushes forward our mission to make digital ownership universal.”


While there is still a lot we do not know about these points, many are speculating that they will have something to do with the Non-Fungible DAO’s eventual $NFT token drop.

 



 

Along with today’s Diamond reward bonus on Yugaverse NFTs, Yuga Labs CEO and Co-Founder, Garga announced that Yuga Labs will be lowering its creator royalties on all of its collections for the next69 days!


“To celebrate the launch of Magic Eden’s Ethereum marketplace, we’re lowering royalties for 69 days: 2.5% for all our royalty-enforced collections, and 1% for legacy collections,” he tweeted last night.




The Bored Ape Gazette is working to bring you additional coverage of Magic Eden’s new marketplace. Stay tuned for updates!

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