{"id":68700,"date":"2022-10-17T16:40:36","date_gmt":"2022-10-17T13:40:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68700"},"modified":"2025-09-07T15:37:51","modified_gmt":"2025-09-07T12:37:51","slug":"nft-marketplace-magic-eden-scraps-mandatory-royalties","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/nft-marketplace-magic-eden-scraps-mandatory-royalties\/","title":{"rendered":"NFT marketplace Magic Eden scraps mandatory royalties"},"content":{"rendered":"<p>The Solana-based NFT platform Magic Eden announced a move to an optional royalties model.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">\ud83e\uddf5After some difficult reflection and discussions with many creators, we\u2019ve decided to move to optional royalties on <a href=\\\"https:\/\/twitter.com\/MagicEden?ref_src=twsrc%5Etfw\\\">@MagicEden<\/a>. <\/p>\n<p>Effective later today, we will also begin running a promotion to waive our platform fees.<\/p>\n<p>\u2014 Magic Eden \ud83e\ude84 (@MagicEden) <a href=\\\"https:\/\/twitter.com\/MagicEden\/status\/1581101016686399491?ref_src=twsrc%5Etfw\\\">October 15, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Users will now determine the amount of royalties paid to the creators of <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-nfts\">NFT<\/a> collections upon sale.<\/p>\n<p>Magic Eden also announced a hackathon to develop alternative tools for monetising the project, with a prize pool of up to $1 million.<\/p>\n<p>According to Delphi Digital, the number of wallets that have held NFTs exceeded 6 million. Despite <a href=\"https:\/\/u1f987.com\/en\/news\/nft-trading-volume-continued-to-fall-in-august\">stagnation in the segment<\/a>, most users carried out NFT transactions for the first time in 2022.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The total number of wallets that have ever held an NFT has doubled this year, surpassing 6 million. <a href=\\\"https:\/\/t.co\/F77tVx8DF3\\\">pic.twitter.com\/F77tVx8DF3<\/a><\/p>\n<p>\u2014 Delphi Digital (@Delphi_Digital) <a href=\\\"https:\/\/twitter.com\/Delphi_Digital\/status\/1580944710356832256?ref_src=twsrc%5Etfw\\\">October 14, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier in June, Magic Eden <a href=\"https:\/\/u1f987.com\/en\/news\/solana-based-nft-marketplace-magic-eden-raises-130-million-at-a-1-6-billion-valuation\">raised $130 million<\/a> in a Series B funding round led by Electric Capital and Greylock Partners.<\/p>\n<p>In March, the NFT marketplace closed a Series A funding round <a href=\"https:\/\/u1f987.com\/en\/news\/solana-based-nft-marketplace-magic-eden-raises-27-million\">for $27 million<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Solana-based NFT platform Magic Eden announced a move to an optional royalties model.<\/p>\n","protected":false},"author":1,"featured_media":68701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1213],"class_list":["post-68700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68700"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68700\/revisions"}],"predecessor-version":[{"id":68702,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68700\/revisions\/68702"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68701"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}