Magic Eden co-founder proposes a new NFT standard: royalties can be enforced at the technical level

ChainCatcher news, according to Decrypt, Magic Eden co-founder and CEO Jack Lu proposed a new NFT standard at the Solana Breakpoint conference in Lisbon, which will "enforce royalties" on a technical level. Jack Lu believes that implementing this standard could create a new asset class, supporting those who seek royalties or new business models.

Jack Lu also cautioned that the new NFT standard will require users to make some "special trade-offs." Enforcing royalties means that creators will only have a certain degree of control and ownership, rather than full control, "because NFTs with enforced royalties will be different from what we understand NFTs to be today." (Decrypt)