Magic Eden Launches MetaShield to Protect NFT Creator Royalties

In collaboration with CoralCube, an NFT marketplace, Magic Eden introduces MetaShield, allowing producers to track SOL NFTs listed with unique royalties and take the appropriate security measures for their companies. “MetaShield identifies NFTs listed/traded on marketplaces that avoid creator royalties,” reads the blog post. 🧵/ Launching MetaShield: Royalties are an important revenue stream that supports creators and enables them to grow their projects. These royalties are being threatened by marketplaces allowing collectors to set custom royalties. pic.twitter.com/zoSbd7W1Mf — Magic Eden 🪄 (@MagicEden) September 13, 2022 The designers are free to “shield” or take any actions they see fit, such as enhancing the metadata, obscuring the image, or flagging the NFT. A debt for the unpaid royalties that can be paid to “unshield” an NFT that avoids paying royalties is incurred when the NFT is purchased. The shielding procedure should not penalize buyers. The buyer was informed that they are not “honouring” the royalties due to the creator. Magic Eden Still Rules Solana Marketplace As the largest Solana NFT market, Magic Eden continues to spread its sorcery among NFT collectors. Other marketplaces have fallen like a house of cards due to the platform. The August 2022 statistics unmistakably demonstrate how a considerable lad dominates the competition. The dominant market virtually encompasses the entire Solana ecosystem, according ...