Yuga Labs and Magic Eden Launching Ethereum NFT Marketplace

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Daily News:

Yuga Labs and Magic Eden Launching Ethereum NFT Marketplace

Llama Raises $6M for Role-Based Governance Platform

Abu Dhabi Enacts DLT Framework for DAOs, Web3, TradFi

Yuga Labs and Magic Eden Launching Ethereum NFT Marketplace:

• Magic Eden announces plans to launch a new Ethereum NFT platform by year's end in partnership with Yuga Labs, promising to honor creator royalties and use new smart contracts to enforce them, diverging from the industry trend of optional royalties.

• The initiative is a response to market shifts where major players like OpenSea have reneged on royalty commitments, with Magic Eden and Yuga Labs aiming to set a standard that protects content creators by using specific smart contract properties for new collections.

• While not an exclusivity agreement, the collaboration encourages other marketplaces to adopt similar contract standards, and Yuga Labs hints at offering perks to NFT holders who support platforms upholding royalty enforcement, positioning Magic Eden as a trusted partner for directing market traffic.

Llama Raises $6M for Role-Based Governance Platform:

• Llama secures a $6 million investment led by Founders Fund and Electric Capital to enhance its governance application that manages smart contracts and permissions, aiming to unify and streamline the fragmented governance space.

• Amid concerns of stagnation in DAO governance innovation and recent DAO-related security incidents, Llama proposes a "decentralization through access control" model, which allocates voting on specific matters to experts in relevant fields, moving beyond the "one token, one vote" system.

• While venture capital interest in DAO governance persists, Llama distinguishes itself by focusing on broader "governance" rather than using the term "DAO," signaling a strategic emphasis on governance structures over the DAO label.

Abu Dhabi Enacts DLT Framework for DAOs, Web3, TradFi:

• Abu Dhabi launches a regulatory framework for DAOs and DLT-based entities, positioning itself as a pioneer in the Middle East for legalizing decentralized organizations and their operations.

• The new framework allows DAOs to operate within legal boundaries and issue tokens, resolving their status in a legal grey area and enhancing the security and accuracy of blockchain networks.

• As part of its ambition to become a leading crypto hub, Abu Dhabi's initiative aims to attract blockchain and digital asset businesses by offering regulatory clarity and setting global benchmarks for transparency and efficiency in the sector.

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