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Metaplex MIP-1: Enforcing Royalties and Empowering Creators on Magic Eden
Metaplex MIP-1: Enforcing Royalties and Empowering Creators on Magic Eden

Discover MIP-1: The new asset class on Solana that allows creators to enforce royalties on Magic Eden

Updated over a week ago

Welcome to Magic Eden's Help Centre! In this article, we will explore Metaplex MIP-1, a groundbreaking asset class on Solana that introduces 'Programmable NFTs.' MIP-1 enables creators to enforce royalties and manage dApp interactions within their collections. Discover how this new feature impacts collectors and creators on Magic Eden.

What is Metaplex MIP-1?

Metaplex MIP-1 is an innovative asset class introduced by the Metaplex Foundation on the Solana blockchain. Unlike traditional NFTs, these 'Programmable NFTs' come with a unique rule set that empowers creators to enforce royalties and control dApp interactions with their collections. With MIP-1 in place, creators gain more control over their intellectual property and earn royalties from secondary sales, adding value to their creations.

Why Does MIP-1 Matter?

MIP-1 unlocks new possibilities for existing and eligible collections on Metaplex's NFT standard by enabling them to enforce royalties. This means that creators can earn a percentage of the proceeds each time their NFTs are resold, fostering a sustainable and rewarding ecosystem for artists and content creators.

Magic Eden's Support for Metaplex MIP-1

Magic Eden is at the forefront of supporting Metaplex MIP-1 and royalty enforcement for existing creators. As one of the first platforms to embrace this asset class, Magic Eden is committed to providing a secure and empowering environment for both collectors and creators.

For Collectors: What Does MIP-1 Mean to Me?

If you're a collector on Magic Eden, MIP-1 introduces exciting new features to your NFT experience. Look out for collections with the "Crown" badge, as these NFTs come with royalty protection.

When you purchase these NFTs, you'll pay the creator royalties, and the percentage will be clearly displayed in your cart. Additionally, certain dApps may be restricted from interacting with your NFTs, ensuring their value remains protected.

Issues with Ledger and MIP-1 NFTs

Please note that certain actions with MIP-1 NFTs are not yet compatible with Ledger. If you're a Ledger user, you won't be able to buy or accept offers on MIP-1 NFTs. However, you can still perform other actions like de-listing, listing, and transferring MIP-1 NFTs with your Ledger.

For Creators: Enforcing Royalties for Your Collection

If your collection used Metaplex, you can upgrade to MIP-1 for royalty enforcement. Visit the Metaplex website for more information.

Royalties Not Enforced Yet on Magic Eden? Here's Why:

Creators need to submit their collections on and wait for 14 days to complete the upgrade process. This 14-day period allows creators to notify their holders about the upcoming changes. After the waiting period, creators must return to Metaplex's royalty site to confirm the upgrade and authorize royalty enforcement on Magic Eden.

Missing Royalties Badging on Your Collection Page?

If you've followed all the steps to upgrade your collection to MIP-1 but don't see the royalties badging on your collection page, don't worry! Reach out to our support chat or DM us on Twitter, and we'll promptly address the issue.

Where to Find More Information about MIP

For more in-depth details about MIP-1, visit the documentation available on GitHub. Additionally, you can find helpful answers in the Metaplex MIP FAQ section.

We hope this article has been informative, and it answers your questions about Metaplex MIP-1 and its impact on Magic Eden. If you need further assistance or have any queries, don't hesitate to reach out to our dedicated support team. Happy collecting and creating on Magic Eden!

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