Magic Eden has followed in the footsteps of X2Y2, introducing optional royalties for NFT buyers, but the community appears split on whether this is good for the industry.
“In future we will be blocking anyone who hasn't paid royalties from accessing our Discord channels. Not paying royalties is theft. We will treat it as such," they said.prediction to their 108,000 followers, stating “I can see a scenario in which Magic Eden goes 0% and loses their market share to a marketplace enforcing royalties in an innovative way."
honestly unreal I don't know who is advising magic eden but imagine fumbling a billion dollar company man I can see a scenario in which magic eden goes 0% and loses their market share to a marketplace enforcing royalties in an innovative wayMagic Eden said the change was not taken lightly, and they"have actively been trying to avoid this outcome and spent the last few weeks exploring different alternatives.
Magic Eden noted in its latest post that: “Unfortunately, royalties are not enforceable on a protocol level, so we have had to adapt to shifting market dynamics."that allows buyers to set the royalty fee when buying an NFT.on NFTGo, in the last three months, X2Y2's trading volume is ranked first, surpassing OpenSea.Cointelegraph has reached out to Magic Eden for further comment but has not received an immediate response at the time of publication.
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