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
The River Plate Machine
Digital illustration for the cover of These Football Times magazine in its issue dedicated to the Argentine football team "Club Atlético River Plate". Original from 2020. For this cover I have created a complex machine that links all the generations and legends of the club with its great shield and emblem crowning the center as the heart of the fantasy machinery. Full of details and ornaments this is a highly detailed work. An authentic trip to the history of River through the imagination and the colors of the club. The most significant titles of the club are also included, such as the Libertadores Cup, the famous Intercontinental and the new Super Liga and the Argentine Cup in its newest cup design. If you see a hen, don't be surprised, it is the nickname that its fans give themselves, and they like it. ----- https://javierarres.com/about.html
Something Turns Inside You
"Colors changing hue. Morning fields of amber gray, weathered faces lined in pain are soothed beneath the artist's loving hand. Now, I understand, what you tried to say to me, how you suffered for your sanity, how you tried to set them free."
Magnetic Forces v3
"El imĂĄn humilla al hierro. Es una teorĂ­a sobre el amor. Magnets humiliate iron. It's a theory about love." --Marco Denevi
Smile to Shreds, Neon Gwen
The First KayPikeFashion Mint Ever. Ever feel so joyful and were grinning so hard you felt you could split in half? That punk rebel yell of glee when you pull of a particularly refined stunt? This is the paint of dreams, fangs and neon. Hellish and hard to pull off. I was able to with this work quietly paint a sweet inner tale of childhood influences, rat fink and autobody shops. All while pretending to paint gwenom for the audience. More on that in bonus material. This is my alternate animation made specifically for crypto art collectors. It will only ever exist in this format. You get the Shiny, unused in media verified image. More on that in the bonus material. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical Mail Bonus Package: A verified physical Art Print. Autographed from the artist in 12x16. Please allow a few weeks for delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.
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