- Yuga Labs, makers of Bored Ape Yacht Club, rake in the highest NFT royalties.
- Roughly 27% of all Ethereum NFT royalties were distributed to the top 10.
The creators of Ethereum NFTs have earned $1.8 billion in royalties from their creations’ secondary sales on exchanges like OpenSea, according to a new analysis published by Mike Novogratz’s Galaxy Digital.
Researchers Sal Qadir and Gabe Parker from Galaxy Digital discovered that the average royalty charge for NFT writers on OpenSea (the biggest overall marketplace by transaction volume) had doubled, going from 3% to 6%. They made this observation based on research data.
Key Players Rake in the Most
The researchers also found that the vast majority of royalties were collected by only 10 organizations, which implies that control over the NFT economy may be more tightly concentrated than previously believed.
Roughly 27% of all Ethereum NFT royalties were distributed to the top 10, equivalent to nearly half a billion dollars. The research uses data from Flipside Crypto to assert that 482 NFT collections generated 80% of all market royalties in total.
The “minting” or first sale of NFTs, which are proprietary blockchain tokens, often takes place on a separate website built by the NFT producers or on a specific launchpad made accessible by some markets. NFTs may be resold via various online markets once they have been minted.
Yuga Labs, makers of Bored Ape Yacht Club, rake in the highest NFT royalties. The $4 billion company has made over $147 million in royalties since it shifted its attention to producing blockchain games. This is hardly unexpected given that Yuga’s big Otherside metaverse land mint earlier this year generated $561,000,000 in sales in only 24 hours.
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