In an effort to double down on its stance on creator royalty protections, Yuga Labs has stopped users from trading the 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 past year, platforms like OpenSea have backtracked on their promise to ensure creators receive fair compensation when their NFTs are traded on the secondary market. This in turn has sparked a backlash among the entire community of creators, who see it as a way to undermine their hard work.
One of those NFT titans backing the cause, Yuga Labs, has condemned the actions of marketplaces chasing the cheapest prices. As a result of its stance, it has blocked platforms that do not support forced royalties from trading its latest Otherside Mara NFT collection. In fact, only NFT marketplaces like X2Y2, Rarible, and Sudoswap V2 allow you to transact with the latest NFTs.
Yuga Labs isn’t working on it.
They have made it clear that their collections will only be traded on royalty-mandated 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 issue of creator royalties has only one conclusion
The great debate over creator royalties has been dragging on for over a year, with platforms like OpenSea switching sides several times. The problem initially arose when marketplaces began to undercut each other by avoiding such fees. However, the option to ignore these payments to creators will eventually become untenable.
Ultimately, creators themselves will move away from marketplaces that don’t support them and favor places that do. As a result, the future looks bright for platforms like 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 materials only. Individuals are required to fully research any product before making any form of investment.