Official announcement from Yuga Labs or update on Magic Eden

Yuga Labs Completes Nina Chanel's 'Super Punk World' NFT Airdrop, Trading at 1.10 ETH Amid Royalty Fee Controversy

May 31, 2024, 04:22 PM

Yuga Labs has completed the airdrop of the 'Super Punk World' NFT collection, a collaboration with renowned artist Nina Chanel Abney. The collection consists of 500 pieces with 198 unique traits and has started trading on Magic Eden, with initial sales ranging from 0.92 to 1.2 ETH, and trading at 1.10 ETH. The official reveal of the collection is scheduled for May 31st at 12:00 PM ET. However, the launch has been met with controversy due to Yuga Labs' strict enforcement of a 6% royalty fee on sales, which includes attorney's fees and other costs. This has sparked backlash from the community. Some users have expressed frustration over the aggressive terms, while others argue that artist royalties should be respected.