Yuga Labs and Magic Eden announce new Ethereum NFT marketplace to protect the license fees of the author

• Yuga Labs and Magic Eden plan to start the new Magic Eden marketplace before the end of 2023.
• The startups claim that this will be the first large Ethereum marketplace that is "contractually obliged" to protect the license fees of the author.
• Daniel Alegre, CEO of Yuga Labs, says that the new ETH marketplace is a profit for the Web3 ecosystem.

Yuga Labs, The Web3 startup behind the popular Bored Ape Yacht Club (BayC), Otherside, Mebits and Cryptopunks, works with the cross-chain NFT platform Magic Eden to start a new Ethereum marketplace.

according to one today on

The blockchain startup assumes that the marketplace will be going live at the end of this year.

plant something new for all creators.

We work with Magic Eden to start the new Magic Eden marketplace-the first major ETH marketplace that is contractually obliged to recognize copyright license fees.

The marketplace will start at the end of 2023, further details will follow shortly. pic.twitter.com/idrbm46nhk

- yuga labs (@yugalabs) 4. November 2023

Creator are of crucial importance for web3

The project of Yuga Labs and Magic Eden takes place at a time when the NFT area deals with the question of license fees for author, especially since large marketplaces shorten or completely abolish the fees. The two startups are unequivocally clear that creative entrepreneurs have to be respected, according to a press release "Creator licensing fees is not negotiable".

The BayC manufacturer says that in the future he will only work with marketplaces that are trying to protect the authors.

"We see this partnership with Magic Eden as a win for the entire ecosystem," noted Daniel Alegre, CEO by Yuga Labs.

In his opinion, developers are the key to web3, and without them the ecosystem will not thrive.

Jack LU, CEO and co-founder of Magic Eden said: