Yuga Labs will end support for markets that don’t support royalties for all creators

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Cointime2024/02/27 00:39

By:Cointime

Yuga Labs announced that the Magic Eden Ethereum market will go live tomorrow on the X platform. This is the first major market that collaborates with creators. In addition, support for markets that do not support all creator royalties will be discontinued starting tomorrow. This means that Yuga Labs' collectibles with royalty filters can only be traded on markets that respect all creator royalties at the protocol level.

Steven Cheng, an analyst at The Block Research, said, "The vast majority of NFTs in Yuga Labs' collection that generate royalties belong to the Bored Ape Yacht Club and Mutant Ape Yacht Club brands, which are not affected by this change. Therefore, in terms of Yuga Labs' royalty income, this update has not brought about significant changes, but it has indeed motivated the team to build its Otherside series and provide value for it."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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