Magic Eden Launches Open Creator Protocol to Enforce Royalties for New Solana NFT Collections
SAN FRANCISCO, Dec. 1, 2022 /PRNewswire/ -- Today, Magic Eden ("The Company"), the leading cross-chain NFT platform, launched the Open Creator Protocol in response to recent royalty enforcement changes in the NFT landscape. The Open Creator Protocol (OCP) is an open source tool built on top of Solana's SPL managed-token standard. Creators launching new collections who opt in to using the protocol will be able to protect their royalties and enjoy additional features including dynamic royalties and customizable token transferability.
- "The Solana community has been waiting for solutions to NFT royalties," Jack Lu, CEO and Co-Founder of Magic Eden commented.
- Magic Eden will enforce royalties on all collections who adopt the protocol and allow creators to ban marketplaces that have not enforced royalties on their collection.
- Magic Eden is also unveiling bulk transfers on the platform so collectors can move their NFTs freely for collections using the Open Creator Protocol.
- Upon launch, Magic Eden will be hosting "Magic Mint", a free mint for users to pilot the Open Creator Protocol and its many features, including protected royalties, dynamic royalties, and customized transferability.