Magic Eden supports the launch of the NFT execution tool

Magic Eden defends the launch of MetaShield, a non-volatile token (NFT) marketplace based on the Solana blockchain. MetaShield is a new enforcement tool aimed at combating NFT buyers by bypassing creator royalty payments.

Magic Eden supports starting MetaShield

The launch of MetaShield has attracted mixed reactions from the NFT community. The community expressed concern that NFT marketplaces should focus on protecting creator rights or reducing royalties so that NFT does not cost collectors.

Launched on September 12, the tool allows NFT creators to suggest NFTs that can be sold after passing creator royalties. Posted by Magic Eden Twitter line Hard-working creators defend the tool by saying they are harmed by “custom” royalty marketplaces.

The launch of the tool follows other similar changes introduced by NFT marketplaces. A few weeks ago, the X2Y2 marketplace launched a feature that allows buyers to decide whether they want to pay royalties when buying NFTs.

Magic Eden said that MetaShield is not intended to protect creators and punish buyers, arguing that royalty marketplaces for creators should not be zero. The NFT marketplace said the move, while not perfect, gave creators an option in the dispute.

According to the platform, MetaShield was created to enable creators to track Solana-based NFTs with custom royalties and take actions when necessary to protect the brand. On the Magic Eden website, creators have an “editor” option that allows them to protect the NFT, enhance the royalty, add a watermark, or blur the NFT image. After the debt is paid, the creator can return the NFT to its original state.

The NFT community responded to the launch of MetaShield

The NFT community expressed mixed opinions for the launch of this feature. One Twitter user said that the addition of MetaShield would promote centralization of the NFT marketplace, while another said that no one would generate NFTs even if creators use MetaShield.

Another user said he was concerned about the innocent governors being punished by the action. Some buyers may not realize that they have purchased an NFT by mistake. After the specified period, the NFT will be protected, thereby creating a situation where they will have to pay a lot more. On the other hand, there are those who have supported Magic Eden with this move.

Some NFT marketplaces also opposed the move. Sudoswap says it will not adopt a royalty payment model to make its NFT marketplace buyer friendly. Instead, buyers only shop for regular platform fees.

Another person who opposed this move was Langston Thomas from “nft now”. Even in cases where smart contracts pay royalties to creators, it is the responsibility of the NFT marketplace to honor the royalty agreement, he said. This is because the NFT marketplace receives royalties first through the transaction and does not need to transfer the royalties.

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