As an NFT marketplace, we are often caught in the middle of people with vastly different opinions. Such was the case this week with derivative projects–some vehemently dislike them, but we learned today that many don’t share the same view. Earlier this week, we created a derivative badge and took derivatives off the home page. We understand that our actions had the effect of penalizing all derivative projects and their communities and creating confusion on what exactly is / isn’t a derivative. Over the last few days, we’ve been developing a better approach that we hope most users can accept as fair.
In this blog post, we will share:
We heard that people were confused as to how we’re defining derivative collections which led to folks believing we were giving certain projects preferential treatment. Ultimately, what is and is not a derivative is subjective.
Based on discussions with several NFT project owners and community members, to the best of our knowledge, we came to the conclusion that an underlying feature of a derivative collection is when the base character/image is the same as the NFT collection it is derived from. When a collection uses the same base character/image (e.g. the face structure of a punk), it is a derivative if that base character/image is then modified via:
Note: This list is non-extensive
We do not consider the following to be a derivative when considered in isolation:
There are 2 ways a collection can get a derivative badge:
Our decision to exclude derivative collections from the Magic Eden homepage was heavy handed. Our popular collections are based on volume and it is only fair that if a derivative NFT collection has high volume, it should be on there in its rightful place.
Derivative collections will be back on the Magic Eden homepage, but with some slight changes:
We took these measures following community feedback and ideas. We would like to thank everyone who contributed and we hope that these are moves in the right direction.
Our mission coming into the Solana NFT space is and was to be the NFT marketplace for Solana. Our community-first value has not changed and we will continue to be transparent moving forward. We are not and do not want to be centralized arbiters. We will be more communicative with our community and better Magic Eden together.