Magic Eden follows OpenSea with NFT royalty enforcement tool

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Be leading that charge bro For sure All right magic Eden nft royalty Enforcement so now magic Eden is now Following openc with the nft royalty Enforcement tool so there's been a lot Of controversy lately Um with Open Seas Um new tool that if you mint your nft Collection on their platform which a lot Of people don't do and you don't have to Do in order to be on openc but if you Actually meant your collection so you Launch your collection through opensees Launchpad Um they now have this technology as an Nft enforcement tool that's that you can Program into that minting contract that That nft can never be solved without a Royalty and that automatically excludes It being listed on blur and things like That yeah so they're face on blacklash I Personally think that as long as it's Optional to the to the project so they Can choose whether to put that in place Or not then it's fine Um but it seems to be like openc is Pushing this narrative quite heavily Saying that projects have to do this if They meant with them anyway it's Interesting to see magic Eden is now Following Open Sea whereas a couple of Months ago we were seeing Open Sea Following magic eating and launching

Analytics and things like and and the Launch pad that magic Egypt was the First to have a launch pad for Solana Projects Open Sea you know very quickly As a launch pad for ethereum now we're Seeing magic Eden following open sea and With their nft royalty enforcement tool Yeah dude I mean I don't mind it if it's Open see it's kind of like when um when You're at a restaurant and they're like We can refuse to do what like wait we're A private establishment we can do Whatever like when the masks are Happening like some companies were just Like no you we don't need the mass And some companies we're like you have To have the mass to come in here because This is a private uh it's a private like Residence basically and with this kind Of thing if you're gonna launch and use Opencs contract it's like yeah you gotta Abide by the rules like whatever the Rules are is what you got to do but That's only if you want to actually mint Through their protocol Um yeah so I mean I don't mind it I mean I don't really mind enforce ferocities I Thought that's what everybody wanted it Anyway so Yeah so it seems like not everyone wants It some people do some people don't it Does seem like one of those situations Where you screwed if you do and screwed If you died from the marketplace

Perspective it seems to be really no Matter what you decide to do I think This is good As long as it's optional I'm happy with It as well Um personally but I mean I know a lot of People are not because well actually I Don't know about optional I think if You're gonna use Open Seas contract they Can make the rules if you're not you Don't have to use the just hire someone Else You know yeah you see the problem is They they they're forcing you to buy Things on openc then Um because because if you see if if you Subscribe and a lot of people do to the Fact that the future of nfts is going to Be mostly royalty free then the Marketplaces that we and the new ones That we're seeing are zero royalties Like blue is the most recent Marketplace And that's the whole thing you cannot Sell your openc nft if you meant it like This on blur it's impossible so from a Consumer perspective it's forcing Consumers to go onto open CM buy and It's also forcing Um uh sellers to sell on open seat Because that's the only place that they Can sell yes you can List It On Let's Just say luxury who's now you know Saying that Um uh that they'll they'll do whatever

Royalties anyone wants but no one's Going to see it right you know we saw we Saw that the volume that looks really is Doing is Tiny compared to you know blur And Open Sea so it's interesting it's an Interesting debate Um I've made my stores here on numerous Times I think royalties are good the Space as long as they're within reason And fair I think seven and a half Percent is ridiculous I think you know Two and a half percent for the Creator Is fair maximum five but each to their Own and everyone has a choice whether They want to buy or not I agree I agree

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