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Magic Eden Launches Solana NFT Tool to Enforce Creator Royalties


Luna Ramsay

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Creator royalties are at threat in the NFT space, especially on Solana, where effectively all marketplaces with any significant share have stopped requiring traders to pay the fees. But now the leading Solana marketplace, Magic Eden, has taken a step towards creating a more durable system to enforce creator royalties.

The $1.6 billion startup today announced the Open Creator Protocol (OCP), an open-source tool that creators of new Solana NFT projects can implement to ensure that royalties are paid whenever their assets are traded on secondary marketplaces. It’s built on top of Metaplex’s existing SPL token standard for NFTs on Solana.

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