Earnings from NFT royalties hit a low point since 2021
According to crypto data firm Nansen, earnings from NFT royalties have reached their lowest volume since 2021. The dominant platform for distributing royalties, OpenSea, saw a shift in the landscape when Blur introduced new requirements for royalties and OpenSea adjusted its policies.
Key points:
– OpenSea and Blur are now on par with each other in terms of royalties paid through their marketplaces.
– Despite the decline in NFT earnings, top projects like Bored Ape Yacht Club (BAYC) and Azuki have still earned significant amounts from royalties.
– BAYC has earned 22,288 ETH ($42.2 million) in all-time royalties, while Azuki has recorded 17,362 ETH ($33 million).
– The floor prices of popular NFT projects have also dropped, with BAYC reaching its lowest price in over a year.
– In 2022, NFT creators earned a total of $1.8 billion in royalties, with the top 10 projects earning $489 million.
Hot Take:
Despite the decline in NFT earnings, there are still opportunities for creators to earn significant royalties. The competition between platforms like OpenSea and Blur is heating up, potentially leading to more favorable conditions for artists and collectors. It will be interesting to see how the NFT market evolves and whether earnings from royalties will rebound in the future.
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