NFT marketplace Magic Eden on Solana has announced that it will enable optional royalties on its platform, allowing NFT buyers to choose full, half or no royalties. In addition, Magic Eden will launch a Creator Monetization Hackathon with an investment of up to $1 million to support the development of NFT royalty-capable and alternative monetization tools on Solana. According to Magic Eden, the Creator Monetization Hackathon will help reduce the business impact felt during the transition to an optional creator royalty model, and will also incubate tools to protect royalty revenue and explore new monetization models.