Magic Eden Defends Launch of NFT Royalty Enforcement Tool

MetaShield works by allowing creators to flag an NFT or blur the image if the listed or traded NFT circumvents the creator's royalties.< /p> New

Solana-based non-fungible token (NFT) marketplace, Magic Eden, has pushed back some community backlash after the launch of MetaShield, its new enforcement tool aimed at deterring NFT buyers who evade fees from creators.

MetaShield, which was reportedly launched in partnership with NFT marketplace and aggregator Coral Cube, received mixed reactions from the NFT community after its launch on September 12, who were divided on whether NFT marketplaces needed to protect creators' rights or reduce royalties to make NFTs cheaper for collectors.

The NFT Royalty Enforcement Tool is designed to allow NFT creators to report and obfuscate NFTs that may have been sold and successfully circumvented creator royalties.

In an eight-part Twitter post on Wednesday, Magic Eden defended its new tool, noting that some of the "hardest working creators today" are being "punished" by "custom" royalty markets.

The new tool has arrived just weeks after NFT Marketplace X2Y2 introduced a new feature that allows buyers to decide whether to pay a fee - and, if so, how much - when shopping. buying an NFT.

Magic Eden clarified things in its most recent thread, noting that it launched MetaShield to protect creators, rather than punish buyers.

"Most people agree that royalty-free marketplaces for all creators shouldn't become the ecosystem norm," Magic Eden said:

"What we do is experiment, collaborate, and ship. MetaShield may not be perfect, but it does provide an option for creators in this debate."

The NFT Market has also confirmed that it will not take control of NFTs and that the royalty enforcement tool will not be used to punish buyers.

6/ Does Magic Eden care about freedom and choice? Yes...