NFT Royalties May Be 'Dwindling,' Galaxy Digital Researcher Says
Fran is a writer and reporter at CoinDesk. Nearly $2 billion in royalties have been made on non-fungible token (NFT) marketplaces, but most creators have shared only a fraction of that amount, according to Galaxy Digital Research Associate Salmaan Qadir. What's more, Qadir told CoinDesk TV's " First Mover," the market for royalties may be dwindling.
NFT Royalties Top $1.8 Billion: Galaxy Digital
By Casey Wagner / October 21, 2022, 12:36 pm EDT More marketplaces are leaning toward the zero-royalty model Sellers are responsible for paying the artist's cut for secondary sales To date, Ethereum-based NFT creators have raked in more than $1.8 billion in royalties, according to data compiled by Galaxy Digital.
NFT royalties net projects $1.8 billion in revenue: Galaxy Digital Research
While NFT royalties benefit small artists, the main beneficiaries are top NFT projects like Bored Ape Yacht Club and corporations like Nike.
NFT Creators Have Earned $1.8 Billion in Royalties to Date: Galaxy Digital - Decrypt
The researchers also discovered a concentration of royalties among just 10 entities, data that suggests the NFT economy may be more centralized than some might have thought. The top 10 took home nearly half a billion dollars worth of royalties, amounting to 27% of all Ethereum NFT royalties earned.
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lt;p>Welcome to Galaxy Brains, hosted by Alex Thorn, Head of Research at Galaxy. Our weekly podcast provides insights and analysis on trends and events across the cryptocurrency ecosystem.
You can find all of my appearances on Galaxy Brains with time-stamped links to when I speak here:
- 9.30.22; EP 29; https://youtu.be/S4LEamqFmEQ?t=3588
We discuss my gaming report
- 7.8.22; EP 17; https://youtu.be/ccGvcFagAM0?t=790
I explain why RTFKT’s CloneX licensing is not as open as it may appear
- 6.24.22; EP 15; https://youtu.be/oYmUEXcaLKc?t=1909
I discuss Solend’s emergency DAO & vote
- 6.10.22; EP 13; https://youtu.be/4K0HYeHZyso?t=2072
I discuss Lido and BAYC’s Discord hack
- 6.3.22; EP 12; https://youtu.be/eqSKY3K3tb0?t=2436
I debate and defend Solana’s viability as a scalable layer 1 blockchain
- 5.27.22; EP 11; https://youtu.be/BC1e38CIPbE?t=1943
I talk about Seth Green’s stolen NFT and IP issues related to NFTs
- 5.13.22; EP 9; https://youtu.be/lSwyOZdfSXE?t=1722
I talk about Instagram’s forthcoming NFT features
- 5.6.22; EP 8; https://youtu.be/PSnimC3i23c?t=1047
I talk about the Otherside mint and Solana’s latest outage
- 4.22.22; EP 6; https://youtu.be/o7Plsoxy5y4?t=404
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- 4.13.22; EP 4; https://youtu.be/O3YCNrODjxs?t=439
I talk about Binance US’s fundraise
- 4.13.22; EP 3; https://youtu.be/ZCG6yOU2PxI?t=56
I talk about OpenSea’s recent integration of Solana
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- 7.22.22; NFTs Banned from Minecraft; https://conta.cc/3cwfhYf
- 7.8.22; Reddit Partners with Polygon to Launch a “Collectible Avatar” NFT Store; https://conta.cc/3b7Y6fn
- 6.24.22; Solana Labs Reveals the Solana Mobile Stack (SMS) and Saga; https://conta.cc/3zw6Xkq
- 6.17.22; Celsius Halts Customer Withdrawals Amid Turbulent Market; https://conta.cc/3BgJXar
- 6.3.22; Solana Bug Triggers 4-Hour Network Outage; https://conta.cc/3aBgWLq
- 5.13.22; Instagram Testing NFTs this Week, Zuckerberg Signals Meta’s Push into NFT Space; https://conta.cc/3S79NUq
- 5.6.22; Yuga Labs Metaverse Land NFT Mint Clogs Ethereum; https://conta.cc/3S6QtX5
- 4.22.22; Coinbase Debuts NFT Market Place; https://conta.cc/3zzN0cs
- 4.8.22; Binance.US Completes First External Funding Round; https://conta.cc/3PCygPE
- 4.1.22; NFT Marketplace OpenSea Confirms Solana Integration; https://conta.cc/3otQLtN
- 3.18.22; Bored Apes Yacht Club Creators Launch $APE Token Days After Acquiring CryptoPunks and Meebits; https://conta.cc/3ouDtNl
- 3.4.22; Highly-Anticipated EVMOS Launches Mainnet with Massive Airdrop; https://conta.cc/3cIZCFe
- 2.25.22; 1Password x Phantom; https://conta.cc/3vgSXsf
- 2.18.22; LooksRare Founders Cash Out; https://conta.cc/3Boj7gJ
- 2.11.22; Dispute with Nike Tests NFT Legal Limits; https://conta.cc/3z9KlVp
- 1.28.22; Solana Endures Network Outage; https://conta.cc/3PQvdCY
- 1.14.22; LooksRare 'Vampire Attack' on OpenSea; https://conta.cc/3PAgqMZ
- 1.7.22; Open Ocean for OpenSea; https://conta.cc/3J5fmP1