The emergence of platforms such as Blur and OpenSea has resulted in much lower royalties for NFT creators.. This is according to data from the analytical platform Nansen.
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Nansen: Royalty payments to NFT creators hit a two-year low
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License royalties for NFT fell to a two-year low in June. They peaked in April 2022, with NFT authors collectively earning 28,000 ETH (nearly $76 million) per week. And in June 2023, the authors’ peak income for the same period was a combined 2,000 ETH (about $3.8 million).
The sharp decline in payments to content creators is exacerbated by Blur, which does not require royalties for NFT. The policy of the leading OpenSea platform is not conducive to higher royalties either. In OpenSea the authors’ fee is usually 0.5% of sales. Platforms can increase their royalties to authors, although this practice does not seem to be common.
Competition between the companies has led to both competing to keep licensing fees low.
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“Licensing payments have been declining since February.. Blur has taken a large share of the licensing fees to be on par with OpenSea. By the way, in the last two weeks Blur has dominated the share of royalties paid,” said analysts Nansen.
It was recently reported that the value of Justin Biber’s NFT from the BAYC collection has fallen tenfold.. Pop singer buys NFT from Bored Ape Yacht Club (BAYC) collection for $1.3 million. In a year and a half, however, the token went down in price by 95%, resulting in a loss of about $1.2 million.<br