Bored Apes Creator Yuga Labs and Magic Eden Collaborate to Fix NFT Royalties Problem – What’s Going On?
Yuga Labs and Magic Eden have announced that they have collaborated to fix the NFT royalties problem. The two companies are working on a new royalty management system to enable more transparent and secure transactions for NFT creators. The new solution will give creators more control over their proceeds, including the ability to collect payments from buyers and automatically split them according to their preferred royalty agreements. Additionally, the platform will provide real-time reporting, helping creators keep track of sales numbers and royalties earned. With this initiative, the companies aim to streamline the process of monetizing digital art and give more power to creators.