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Yuga Labs and Magic Eden plan to launch the new Magic Eden ETH marketplace before the end of 2023. The startups claim this will be the first major Ethereum marketplace “contractually obligated” to protect creator royalties. Yuga Labs CEO Daniel Alegre says the new ETH marketplace is a win for the web3 ecosystem. Yuga Labs, the Web3 startup behind the popular Bored Ape Yacht Club (BAYC), Otherside, Meebits and CryptoPunks, is partnering cross-chain NFT platform Magic Eden to launch a new Ethereum marketplace . According to an announcement posted today on X, Yuga Labs said the collaboration with Magic Eden is for the launch of Magic Eden ETH marketplace, set to become the first Ethereum NFT marketplace to feature a contractual obligation to protect creator royalties. The blockchain startup expects the marketplace to be live by the end of this year.  Planting something new for all creators. We’re partnering with Magic Eden to launch th...

Yuga Labs said it will start winding back OpenSea support for “all upgradable contracts and any new collections” following the announcement from the NFT marketplace. Bored Ape Yacht Club (BAYC) creators Yuga Labs is set to wind down support for OpenSea following the platform’s upcoming removal of its on-chain royalty enforcement tool Operator Filter. The Operator Filter was launched in November 2022, essentially enabling creators to restrict secondary nonfungible token sales only to marketplaces that enforce creator royalties, thus filtering out platforms like Blur. However, OpenSea revealed on Aug. 17 that it will soon “sunset” the tool at the end of August, citing a lack of “opt-in by the entire ecosystem,” platforms being able to bypass the tool and pushback from creators. The following day, Yuga Labs CEO Daniel Alegre shared an announcement via X (Twitter), stating that the firm will gradually wind down its use of OpenSea’s Seaport marketplace smart contract: “Yuga Labs will be...

OpenSea’s terms of service explicitly prohibit individuals and organizations from sanctioned regions from using its platform. Nonfungible token (NFT) Marketplace OpenSea has been banning artist s and collectors from Cuba, citing United States sanctions as the key reason behind its action. According to a report published by Artnet, 30 artists and collectors have been banned from the popular NFT marketplace until now. The most noted artist to face the axe includes well-known Havana-based artists Gabriel Guerra Bianchini and Fábrica de Arte Cubano. OpenSea marketplace has mentioned in its terms of service that it explicitly prohibits sanctioned individuals and individuals in sanctioned jurisdictions. The NFT marketplace’s adhesion to United States sanctions was widely known and included countries such as Venezuela, Iran and Syria. However, the recent blocking of Cuban artists adds the country to that list as well. A Twitter profile called NFT Cuba Art revealed earlier in December that ...