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HomeImmutableXNFT creators earned over $1.8 billion in royalties: report

NFT creators earned over $1.8 billion in royalties: report

  • Yuga Labs is the top creator royalty earner and Nike tops NFT’s comprehensive list of global brands.

ethereumNFT-based loyalty surpasses the $1.8 billion market, Galaxy Digital points out in its latest article, even though the industry faces significant debate over its loyalty model. research insights in the sector.

However, with the cryptocurrency market sluggish, the data shows royalty payments even as the sector tries to weather this difficult situation. Top NFTshas increased over the past year.

In fact, Galaxy Digital notes in its report that the average royalty percentage creators earn on OpenSea has increased from 3% to 6%. Notably, OpenSea has overseen the most royalty payments to creators.

OpenSea currently accounts for over 80% of NFT marketplace volume, and the royalty distribution method is the most common framework implemented in marketplaces today.‘, points out researchers at Galaxy Digital.

However, not all NFT platforms encourage loyalty, and due to the issue of loyalty enforcement at the marketplace level, some NFT marketplaces such as Solana-based DeGods remove royalties Others like Magic Eden declare them option.

Yuga Labs Tops Loyalty Earning List

According to a Galaxy Digital report published on Friday, October 21, 27% of royalties went to 10 creators, worth more than $489 million. Only his NFT collection of 482 generated his 80% of total royalties paid over the past year.

The top 10 royalty-earning creators were Bored Ape Yacht Club creators Yuga Labs, Art Blocks, OpenSea Storefront Creator, Chiru Labs (Azuki), PROOF Collective, The Sandbox, Doodles, VeeFriends, NFT Worlds, and World of Women. .

Yuga Labs earned over $147.6 million in royalties, Art Blocks over $82 million, and OpenSea Storefront over $76 million in royalties.

Among global brands, Nike accounted for the most NFT-based royalties over the past year, surpassing $91 million. Adidas with more than $4.7 million and Adidas with more than $1.5 million occupy the top three.

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