Welcome to Magic Eden's Ethereum marketplace, where creators are valued, and their work is protected. In this article, we'll explore the essential aspects of royalties on our platform, empowering creators to understand how their work is safeguarded and rewarded.
Royalties enforcement mechanisms
At Magic Eden, we are committed to enforcing royalties to uphold the rights of creators. We utilize Limit Break's Payment Processor v2, a robust royalty-enforcing marketplace protocol. Creators are provided with two options for enforcing royalties:
Operator Filter: Enables creators to block non-royalty-respecting marketplaces, ensuring comprehensive royalty protection across the ecosystem.
ERC721C v2: Integrates this standard to enforce royalties seamlessly, enhancing the integrity of creators' creations.
Native listings and royalty enforcement
Magic Eden prioritizes royalty enforcement, with 100% of native listings subject to royalty enforcement. While we aggregate listings from other marketplaces for user convenience, it's essential to note that we cannot control royalties on those listings. Creators are advised to block non-royalty-respecting marketplaces to maintain 100% royalty protection.
Scenario analysis
Understanding various scenarios concerning Operator Filter and upgradeable contracts is crucial for creators:
Scenario | Have Operator Filter? | Upgradeable Contract? | Action Required |
1 | Yes | Yes | Update registry to block non-royalty-enforcing marketplaces |
2 | Yes | No | Update registry to block non-royalty-enforcing marketplaces |
3 | No | Yes | Upgrade contract to Operator Filter or ERC721C and update registry |
4 | No | No | Unable to enforce royalties without wrapping or burn and reminting NFTs |
Further exploration and guides for creators
For a more in-depth look at royalties on Magic Eden's Ethereum platform, including detailed information and guides on applying royalties, we invite you to explore our companion article: A Guide to Royalties on Magic Eden's Ethereum Platform.
Understanding and leveraging the royalty enforcement mechanisms available on Magic Eden's Ethereum platform are essential for creators to ensure fair compensation and protection for their work. If you have any further questions or need assistance, don't hesitate to reach out to our support team via the chat widget on our platform.