Magic Eden Partners with Yuga Labs to Launch Ethereum NFT Marketplace

Magic Eden, a prominent decentralized finance (DeFi) protocol within the Solana ecosystem, has broadened its horizons by venturing into the Ethereum blockchain realm with the introduction of a dedicated non-fungible token (NFT) marketplace aimed at creators on this network.

Magic Eden partners with Yuga Labs for creator-centric marketplace

In a recent press release, Magic Eden unveiled its collaboration with Yuga Labs, renowned for hosting acclaimed NFT projects like Bored Ape Yacht Club (BAYC) and Otherside, to establish this innovative marketplace emphasizing creator royalties.

Magic Eden and Yuga Labs collaborate to empower creators in web3

The partnership between Magic Eden and Yuga Labs underscores their commitment to fostering a thriving web3 ecosystem, recognizing and rewarding creators' pivotal role in shaping the future of NFTs.

Through collaborative efforts with entities such as Limit Break, the marketplace has been enriched to offer users access to diverse NFT collections from esteemed creators in the industry.

Yuga Labs and Limit Break jointly launched the Ethereum marketplace

Jack Lu, CEO of Magic Eden, expressed the protocol's aspiration to expand and establish an Ethereum marketplace in alignment with esteemed partners like Yuga Labs and Limit Break, bolstered by community support through their Creator's Alliance initiative.

Magic Eden's NFT marketplace rewards users with Diamonds for engagement and actions like delisting/relisting

Magic Eden's new NFT marketplace integrates a rewards program, incentivizing both creators and collectors with Diamonds for their contributions and engagements on the platform. Additionally, users stand to receive Diamond airdrops for actions such as delisting and relisting NFTs.

Yuga Labs CEO praises Magic Eden's creator-centric platform

Greg Solano, CEO of Yuga Labs, emphasized the crucial role royalties play in sustaining creators within the web3 ecosystem, commending Magic Eden for pioneering a platform that not only impresses but also prioritizes creator support through custom pages, loyalty rewards, and diligent royalty enforcement.

Magic Eden, Yuga Labs, and Creator's Alliance offer limited NFTs for marketplace launch. Creator's Alliance supports developers and royalties

To mark the marketplace launch, Magic Eden, along with Yuga Labs and Creator's Alliance members, will distribute a limited edition NFT art piece crafted by Clon of Cool Cats. Early adopters of the marketplace stand a chance to receive airdropped NFTs, while additional NFTs will be awarded based on transaction-generated royalties.

In tandem with the Ethereum marketplace launch, Magic Eden has introduced the Creator's Alliance initiative, aimed at supporting developers and establishing a robust royalty framework across the industry. This initiative has garnered support from various projects and companies, signaling a collective commitment to creator empowerment and fair compensation.

Magic Eden ventures into the Ethereum ecosystem to achieve its 2024 goals

Magic Eden's foray into the Ethereum ecosystem, alongside initiatives like Creator's Alliance, marks significant strides in its 2024 innovation plan, encompassing product enhancements and contributions to the broader NFT landscape.