Magic Eden’s Attempt to Protect NFT Creators’ Royalties Gets Backlash from Community
2022.09.15 14:55
© Reuters Magic Eden’s Attempt to Protect NFT Creators’ Royalties Gets Backlash from Community
Following the launch of MetaShield functionality on September 12th, Solana-based NFT marketplace Magic Eden received a mix of reactions from the community.
The new NFT royalty enforcement tool allows NFT authors to flag and blur NFTs that may have been sold, avoiding creator royalties.
Mixed Reaction from Community
After the initial announcement of the launch, the new update received a mixed reaction from the NFT community. The discussion split on whether NFT marketplaces should protect creator rights or cut royalty fees to make NFTs cheaper for collectors. Many addressed the marketplace fees.
Twitter (NYSE:) user Grug commented: “There is no way you haven’t seen the discussion regarding your own 2% fees on all volume, and then there is the blurring of the jpegs… You’re the problem not the royalties, bunch of centralised cucks.”
The only discussion that matters is whether or not you guys will lower marketplace royalties to 0.5%. You’ve been siphoned way to much money from our ecosystem for way to long.
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