The total amount of royalties received by NFT creators for reselling tokens has dropped to a two-year low — almost 1,000 ETH (~$190,000). Cointelegraph writes about this, citing Nansen data.
According to the analyst report, in April 2022, there was a peak in royalties at around 27,000 ETH. To date, the authors have received about $75.7 million in one week.
Experts attribute the decrease in the volume of payments to the fall in prices for one of the most popular Bored Ape Yacht Club (BAYC) collections, as well as disagreements around the launch of non-fungible Azuki Elementals tokens.
In total, BAYC creator Yuga Labs received $165.5 million in royalties. Azuki earned $58.2 million from the zuki, Beanz, Elemental Beansa, and Elementals collections, while metaverse-focused studio RTFKT earned $79.9 million.
Nansen emphasized the importance of royalties for the resale of NFTs as an indicator of the financial stability of the authoring companies for their development.
Until 2023, the bulk of payments came from the OpenSea marketplace. However, when competing platform Blur set a minimum royalty rate of 0.5%, some projects switched to it.
“Currently, OpenSea and Blur are on par when it comes to royalties paid through their marketplaces. Moreover, the indicators of the second platform grow when the trading volume increases,” the analysts noted.
According to Nansen, the total amount of royalties for the top 10 collections is $345 million, with Yuga Labs accounting for about 44% of the figure.
Recall that popular pop artist Justin Bieber allegedly lost $1.2 million on investments in NFTs. In January 2022, the singer purchased BAYC #3001 for 500 ETH on the OpenSea marketplace – now the digital asset is worth about 29 WETH.
Found a mistake in the text? Select it and press CTRL+ENTER
ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!