Magic Eden Making Royalties Optional

Magic Eden, the leading Solana NFT marketplace, announced a decision to make royalties optional on its trading platform according to a tweet announcement late on Friday night.

🧵After some difficult reflection and discussions with many creators, we’ve decided to move to optional royalties on @MagicEden.

Effective later today, we will also begin running a promotion to waive our platform fees.
— Magic Eden 🪄 (@MagicEden) October 15, 2022

Additionally, the platform is going to begin a promotion to waive platform fees for a select period of time.

Royalties have been a hot topic in recent weeks, culminating with the decision from the leading Solana PFP project, DeGods, moving to a 0 percent royalty structure.

On the Ethereum blockchain, the newly minted QQL NFT project took steps to block the trading of its NFTs on the ETH marketplace, X2Y2, where royalties are also optional.

Author Bio

Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

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