Ethereum NFT royalties hit two-year low as Bored Ape price floor falls below 30 ETH
NFT royalties act as an important indicator of incoming revenue to fund the continued development of various projects in the ecosystem.
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Royalties received from non-fungible token (NFT) projects have hit their lowest point in two years, according to a report by blockchain analytics firm Nansen.
Data shared with Cointelegraph highlights the low point in NFT royalties before the impact of a recent drop in the floor price of Bored Ape Yacht Club NFTs as well as the controversy surrounding the launch of the Azuki Elementals collection.< /p>
April 2022 saw the peak of NFT royalties, with NFT creators pocketing approximately $75.7 million in royalties in a single week. According to Nansen's data, BAYC creators Yuga Labs earned a total of $165.5 million in royalties from its NFT collection portfolio.
Related: Planet of the Bored Apes: BAYC Success Turns into Ecosystem
RTFKT has collected a total of $79.9 million in royalties from its collections, including CloneX. Azuki raised $58.2 million through its zuki, Beanz, Elemental Beansa and Elementals collections.
Proof, the studio behind Moonbirds, made $35 million in revenue, while Doodles generated $27.4 million from its Doodles, Space Doodles, Genesis Box and Dooplicato. Pudgy Penguins reported $8.3 million in revenue for its Pudgy Penguins, Lil Pudgys, and Pudgy Rods drops.
Nansen emphasizes the importance of NFT royalties as an indicator of a studio's financial base for continued development, given their role in revenue generation.
The OpenSea NFT marketplace was primarily responsible for distributing royalty payments to NFT projects until 2023. The report notes that this trend has changed...
NFT royalties act as an important indicator of incoming revenue to fund the continued development of various projects in the ecosystem.
News
Join us on social networks
Royalties received from non-fungible token (NFT) projects have hit their lowest point in two years, according to a report by blockchain analytics firm Nansen.
Data shared with Cointelegraph highlights the low point in NFT royalties before the impact of a recent drop in the floor price of Bored Ape Yacht Club NFTs as well as the controversy surrounding the launch of the Azuki Elementals collection.< /p>
April 2022 saw the peak of NFT royalties, with NFT creators pocketing approximately $75.7 million in royalties in a single week. According to Nansen's data, BAYC creators Yuga Labs earned a total of $165.5 million in royalties from its NFT collection portfolio.
Related: Planet of the Bored Apes: BAYC Success Turns into Ecosystem
RTFKT has collected a total of $79.9 million in royalties from its collections, including CloneX. Azuki raised $58.2 million through its zuki, Beanz, Elemental Beansa and Elementals collections.
Proof, the studio behind Moonbirds, made $35 million in revenue, while Doodles generated $27.4 million from its Doodles, Space Doodles, Genesis Box and Dooplicato. Pudgy Penguins reported $8.3 million in revenue for its Pudgy Penguins, Lil Pudgys, and Pudgy Rods drops.
Nansen emphasizes the importance of NFT royalties as an indicator of a studio's financial base for continued development, given their role in revenue generation.
The OpenSea NFT marketplace was primarily responsible for distributing royalty payments to NFT projects until 2023. The report notes that this trend has changed...
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