In an attempt to double down on its stance on protecting creator royalties, Yuga Laboratories has blocked users from trading its latest nft collection on several major marketplaces. As a result, the nft powerhouse has deactivated 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 are fairly compensated when their NFTs are traded on the secondary market. This, in turn, has sparked backlash across 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 seeking the cheapest prices. As a result of his stance, he has blocked trading of his latest Otherside Mara nft collection to platforms that do not support mandatory royalties. Effectively, it only allows nft marketplaces like X2Y2, Rarible, and Sudoswap V2 to transact their newest NFTs.
Yuga Labs is not fucking around.
They have made it clear that their collections will only be traded on royalty-free marketplaces (X2Y2 + SudoSwap V2).
Her 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 raged for over a year, during which platforms like OpenSea have switched sides several times. The problem initially arose when exchanges began to undercut each other by avoiding such fees. However, the option of ignoring these payments to creators will ultimately prove unsustainable.
Ultimately, creators themselves will move away from markets that don’t support them, in favor of 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 financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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