Top NFT marketplace MagicEden has announced a new feature called MetaShield. The feature is aimed at helping creators secure their future royalties.
It was developed in partnership with Coral Cube and helps creators keep track of their content. Properties based on Solana Listed with custom royalties. By identifying these assets on NFT marketplaces, creators can ensure they are paid royalties.
If you identify an NFT that is being listed to bypass royalty requirements, you can take action. These can include blurring images and completely pointing NFTs. Although these NFTs are sold royalty-free, their metadata shows the royalty they owe which may later be paid to the creator.
Royalty is a big deal. NFT creators As they represent a significant portion of their income. Moreover, they are meant to have income security as their works change hands and royalty evasion takes this away from them.
MagicEden was the inspiration behind developing this tool and there are currently plans to do more in the future.
“MetaShield is just one tool we’ve developed to address the issue of royalty evasion – more to come. While building this tool at @coralcubenft we consulted with several major projects in the space.The official MagicEden Twitter said.
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Tokoni Uti has written extensively on blockchain and cryptocurrency over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.