Opensea exposes NFT creators have received over $1 billion in royalties this year

Creators who sell NFTs on OpenSea have grossed over $1.1 billion this year, with 80% of that number belonging to collections outside the top 10

These revenues also do not include sponsorship revenue, engagement incentives, or grants, according to a blog post by Shiva Rajaraman, Vice President of Product at OpenSea, which analyzes transactions that include creator fees between Jan. 1 and Nov. 23

ref. Shiva Rajaraman on Twitter

OpenSea, which holds the largest market position as measured by monthly volumes, was released earlier this month. The company has unveiled a tool to help creators launch new collections on platforms that can enforce on-chain royalties, with code in smart contracts limiting NFT sales to markets where creator fees are enforced.

Until now, royalties for NFT projects on Ethereum have grossed $1.8 billion, according to a Galaxy Digital report released in October, with the top 10 NFT projects grossing $489 million, or 27% of the total royalties earned.

ref. NFT Marketplace Monthly Volume (theblock.co)

In respect of Yuga Labs, which has Bored Ape, Mutant Ape, and Otherside projects, grossed $147.6 million, followed by Art Blocks at $82 million.

Source link: The Block