Magic Eden debuts open-creator protocol to enforce NFT creator royalties

Magic Eden has updated on Creator's royalties, saying Thursday that it is rolling out a protocol that will enforce royalties on all new collections that opt-in to the tool.

The Open Creator Protocol (OCP) is an open-source tool built on Solana's managed-token standard SPL and will allow Creators to launch new collections. Starting December 2, Magic Eden will enforce royalties on all collections that use this standard and will give Creators the option to ban markets that don't enforce royalties.

ref.  Magic Eden on Twitter 

For Creators who don't use the Open Creator Protocol (OCP) for NFTs, royalties will remain an option on the platform.

"The Solana community is waiting for a solution to the problem with NFT royalties," Jack Lu, CEO and co-founder of Magic Eden, said in a press release, "Our intention in the Open Creator Protocol is to provide immediate royalty support for Creators launching new collections while continuing to coordinate with ecosystem partners to find more solutions."

Source link: coindesk // cointelegraph 
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