In a bid to double down on its stance on protecting creator royalties, Yuga Labs has blocked users from trading its latest NFT collection on several of the top marketplaces. As a result, the NFT powerhouse has disabled its Otherside Mara tokens on OpenSea, Blur, LooksRare, and Sudoswap V1.
Over the last year, platforms like OpenSea have backtracked on their pledge to ensure creator’s receive fair compensation when their NFTs trade on the secondary market. This in turn has fueled backlash from throughout the creator community, who see it as a way to undermine their hard work.
One such NFT titan lending its support to the cause, Yuga Labs, has condemned the actions of marketplaces as they pursue the cheapest prices. As a result of its stance, it has blocked platforms that don’t support enforced royalties from trading its latest Otherside Mara NFT collection. Effectively, only allowing NFT marketplaces such as X2Y2, Rarible, and Sudoswap V2 to transact with its newest NFTs.
Yuga Labs is not fucking around.
They’ve made it clear that their collections will only be traded on royalty-enforced marketplaces (X2Y2 + SudoSwap V2).
Their latest Mara collection blocks trading on OpenSea, Blur, LooksRare, and SudoSwap V1. pic.twitter.com/J5iav8abvX
— cygaar (@0xCygaar) September 27, 2023
The Creator Royalties Issue Has Only One Conclusion
The great creator royalties debate is one that has dragged on for well over a year, during which, platforms like OpenSea have switched sides multiple times. The problem initially arose when marketplaces began undercutting each other by circumventing such fees. However, the option to ignore these payments to creators will ultimately become unsustainable.
In the end, the creators themselves will move away from the marketplaces that do not support them, in favor places that have their backs. As a result, the future looks rosy for platforms such as Rarible and X2Y2, and not so much for their greedy competitors.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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