Era Labs, a frontrunner in the Web3 domain and owner of BYC (Bore Ape Yacht Club), MeBits, 10KTF, CryptoPunks, Twelvefold, and Otherside, has recently unveiled a collaboration with Enchanted Garden, a leader in inter-chain NFTs. Magic Eden’s Ethereum-based marketplace is expected to launch by December 2023.Thank you for reading this post, don't forget to subscribe!
This introduction marks the first Ethereum marketplace contractually obligated to embrace creator royalties. The joint efforts of Era Labs and Enchanted Garden fortify their dedication to safeguarding creator royalties while additionally striving to foster an innovative model that facilitates greater participation from creators and builders in the sector.
Both industry leaders underscored the significance of establishing an impartial, gratifying, and secure ecosystem for inventive content creators within the future of Web3. Ethereum will support this partnership by prioritizing ownership and enabling creators to receive their well-deserved royalties. Yuga Labs, Magic Eden, and other marketplaces that once discouraged creative enterprise have made this principle non-negotiable.
Looking ahead, Yuga Labs intends to exclusively engage with the Ethereum marketplace for any new collections, remaining committed to these principles and ensuring fair treatment for every creator involved.
Daniel Alegre, CEO of Era Labs, views this collaboration as a triumph for the ecosystem and urges like-minded individuals to join and support the development of the Ethereum marketplace, benefiting Web3 developers.
This partnership will enable all creators on the Magic Eden ETH marketplace to showcase their digital collections amidst a dynamic landscape, fostering a more equitable and fair ecosystem for all participants.
Jack Lu, co-founder and CEO of Enchanted Garden, asserts that the organization’s objective is to establish a Web3 ecosystem that empowers and champions creators within royalty programs. Through collaboration with Era Labs, Magic Eden aims to launch an Ethereum marketplace that adheres to unified standards for creator royalty allocation throughout the ecosystem.
Era Labs, a Web3 corporation, is shaping the industry’s future through its narratives, communities, and experiences. They operate under the guiding principles of maximizing the potential of Web3 domains while avoiding any restrictive measures. The Era team initiates the process of reevaluating the understanding of real-world NFT utilities and advocates for progress. Yuga Labs, which made its debut in 2021 with the Bored Ape Yacht Club collection, has garnered attention by becoming the first organization to offer IP licenses to NFT holders, relinquishing rights to various prominent collections (including MeeBits and CryptoPunks) and breaking all records for Web3 participation and simultaneous user engagement.
In contrast, Otherside, an ambitious and groundbreaking metaverse initiative, is being developed as an act of rebellion against the conventionally constraining environment prevalent in the gaming industry. In 2022, Yuga Labs successfully concluded a seed round, raising $450 million at a valuation of $4 billion.
Enchanted Garden is a forerunner in inter-chain NFTs, attracting billions of users to the Web3 realm. The platform empowers users to collect, explore, and generate unparalleled NFTs, introducing an ever-evolving cultural phenomenon to the blockchain industry.