Yuga Labs has joined forces with Magic Eden to create a groundbreaking NFT marketplace on the Ethereum blockchain. This marketplace, set to launch by year-end, differentiates itself by legally binding to uphold creator royalties, marking a significant shift in the NFT sector.

The partnership between Yuga Labs and Magic Eden aims to revolutionize the NFT space by prioritizing and protecting creator royalties. By ensuring creators receive their fair share for their original work, this collaboration sets a powerful precedent in an industry where creator royalties are often overlooked.

Yuga Labs CEO Daniel Alegre has publicly encouraged other market players to support their initiative with Magic Eden to promote equitable returns for creators. This partnership aligns with Yuga Labs’ dedication to addressing core challenges faced by creators and nurturing a thriving community.

Magic Eden CEO Jack Lu envisions a future where their marketplace sets new industry standards for royalty allocation, aligning with the mission shared by both Yuga Labs and Magic Eden to establish fair practices in the web3 space.

In summary, this ambitious partnership between Yuga Labs and Magic Eden seeks to redefine the NFT landscape, putting creators’ rights and fair compensation at the forefront.