ChainCatcher reported that Magic Eden co-founder and CEO Jack Lu proposed a new NFT standard at the Solana Breakpoint Conference in Lisbon, which will "enforce royalties" at the technical level. Jack Lu believes that the implementation of this standard is expected to produce a new asset class to support those who want royalties or new business models.

Jack Lu also reminded that the new NFT standard will give users some "special trade-offs". Enforcing royalties means that creators can only have a certain degree of control and ownership, not all of it, "because NFTs with mandatory royalties will be different from NFTs as we understand them today." (Decrypt)