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
taro
conceptual art. drawing and digitally processed
The Scion
A young figure caught in a moment of distraction, aware only ephemerally of his unconscious being, as it engages in psychological and psychedelic layer spaces. His right arm casually cradles a moray eel; the figure is comfortable but not truly aware of the potentials for danger in such negligence. His shirt reads “Bello” in Pokemon style font, harkening back to a childhood straddling the millennial threshold. To his right side, out of the unconscious deep, shrouded alien heads propagate as a fractal totem, each new iteration a more sophisticated rendering of emotional masking over the cold mystery of the greys. As the scion of the Budgie-Sattva, the young man, in his distraction, is also simultaneously aware of higher levels of self discovery. To his left a psychological topology sets beneath the oracle side of an 8 ball ,hovering; its message a purest concept of acceptance. The “Scion” lettering is in 80’s HeMan style bold declaration. The lower right side of the painting is like a hybrid of melon, feathers, and seeds. The crystals in the background bring light; conducted, refracted, reflected, and dispersed, to balance the dark shadow of the figure’s physical body. The aura of the scion succeeds in layers to point, with a finger, and the crown chakra, toward a center of a mandala existing as nigh pure application of strokes, in essence painterly abstraction, but also revealing hints of the Aura of migraine, and the bi-hemispherical nature of the brain–noting concerns of the possibility of inherited mental disease. Yet the flourish of chakra as it sets against that center is robust, active, coherent, and reveling against all fear. Fundamentally, the piece speaks to the activation of one’s potential to begin to “Know Thyself”, and find greater awareness out of the enigmas of the mind–as an inculcated seed given to the rich soil of one’s own birthright.
CryptoKitties
Hi-ya! I'm Kitty #449465. All you need to know about me is I hate chocolate with a passion. My secret indulgence is hamburgers. Let's pawty!
CryptoPunk #9052
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.
Hope
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