24/10/2022 Over $1.8B in Royalties Have Been Paid Out to Ethereum-Based NFT Creators: Galaxy Digital

Bored Ape Yacht Club creator Yuga Labs has earned the most in royalties to date, with over $147 million in payouts.

CDCROP: Concept NFT or non fungible token 3d illustration. (Getty Images)

(Passakorn Prothien/Getty Images)

More than $1.8 billion in royalties have been paid to creators of Ethereum-basednon-fungible token (NFT)collections thus far, according to areport published by crypto firm Galaxy Digitalon Friday.

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The report also highlighted that within the last year average royalties onOpenSeahave increased from 3% to 6%. This is notable, considering OpenSea remains thelargest NFT marketplace by trading volume, according to DappRadar.

Galaxy Digital also reported that 10 names hold 27% of the total royalty payment market share. Yuga Labs,the creator of the blue chip Bored Ape Yacht Club collection, has earned the most in royalties, with over $147 million in payouts to date.

According to data from Dune Analytics cited in the report, Nike,which acquired digital collectibles startup RTFKT, made $91.6 million in consolidated NFT royalties in comparison. Other real-world brands including Gucci, Adidas, Nickelodeon, McLaren that have successfullyintegrated NFTs into their business modelshave made some money off NFT royalties, though the number is far lower when compared with the creator royalties of top Web3-native entities such as Art Blocks, The Sandbox, Doodles, World of Women and more.

Whether platforms should require resale royalties is an ongoing conversation, as some have moved to allow artists to elect their own royalty allocations. In August,NFT marketplace X2Y2shifted to an optional royalty payment structure for buyers, and last week leadingSolana-based NFT platform Magic Edendid the same, leaving the number of royalty payments up to collectors.

“NFT royalties are a relatively new phenomenon when compared to the age of the NFT space itself,” the report said, noting that legacy brands with NFT collections stand to lose the most from loose royalty structures.

“Apart from individual creators, major brands like Nike, Gucci and Adidas also stand to losetens of millions of dollarsin potential revenue if royalties are no longer enforced. We expect these massive legacy institutions and marquee creators to fight hard to preserve their royalty-driven revenue streams from Ethereum-based NFT collections.”

Arts

https://www.coindesk.com/web3/2022/10/21/over-18b-in-royalties-have-been-paid-out-to-ethereum-based-nft-creators-galaxy-digital/

Interesting NFTs
Genesis
JosĂ© Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
trump 2020
This is a photo i took of my son playing around in one of our cat carriers, redressed to express the concern and damage the continuation of the trump administration could bring to the world in 2020 and beyond. Unlike the majority of my historic work found on opensea, all content was conceived and taken by me, so felt perfect to use as my first piece on Known Origin.
#97242
By OthersideDeployer
CryptoKitties
Ciao! I'm Kitty #453296. I enjoy tricking babies, eating until I loathe myself, and breakdancing. I am 95% elf, 2% Spin Instructor , and otherwise bad at math. I can't wait to wake you up at 4am for seemingly no reason.
Crossroad
LIMITED EDITION 1/1 | includes signed limited edition prints of all 3 states (pre-election, Trump win, Biden win) This piece is a first for Nifty, a token that will change based on the outcome of the election. If anything is constant about the times we now live in, it's uncertainty. This uncertainty is perfectly encapsulated in this piece of artwork as the person buying the piece will not know the final artwork. The artwork will be one state at auction before the election, and after the results of the election are known, will forever change to reflect a Trump or Biden win. PLEASE FUCKING NOTE: If trump wins, this token will change to that video of sexy boi king trump stomping through hell FOREVER. I don’t want you coming back to me bitching that you spent $2M* on this and now it’s a video of orangeman going HAM and it’s keeping u up at night popping mad boners. should have voted bruh. *and stfu that this isn’t gonna be worth a fuckton more when I hit 30 years of everydays and have a permanent collection in the MOMA. smh.