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NFT royalties of BAYC, Azuki, Pudgy Penguins are Surprisingly $58M+, $43M+, $7.2M+ Respectively
Blockchain data and research firm Nansen has reported the royalty earnings of top Ethereum non-fungible token (NFT) brand.
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NFT Royalties Fall Short in Web3 Ecosystem
Loss of creator royalties in the NFT space could be higher than estimated, with Bored Ape Yacht Club and Mutant Ape Yacht Club experiencing shortcomings of around $20 million. This points to previous estimates of $35 million likely being too small. Despite efforts to enforce creator royalties, Boris Pevzner, co-founder and CEO of LiveArt, says the current system is not working as it should, potentially causing artists to lose interest in the industry.
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OpenSea Creates Tool for NFT Creators to Enforce Royalties On-Chain
NFT marketplace OpenSea has revealed its plan to create a tool to help creators on its platform enforce creator fee payments.