Ethereum NFT Royalties Cross 699,816 ETH: Are Artists Benefitting As They Should? | Headlines | News | CoinMarketCap
07/25/2023 18:23
While the hype of Non-Fungible Tokens (NFTs) may have centered around skyrocketing sales and celebrity purchases, a less-publicized metric has been …
Bitcoinist12 minutes ago
Ethereum
NFT
Published on July 25, 2023 11:11 GMT+00:00edited on July 25, 2023 11:14 GMT+00:00
While the hype of Non-Fungible Tokens (NFTs) may have centered around skyrocketing sales and celebrity purchases, a less-publicized metric has been quietly mounting: royalties. Fresh insights into this critical element of the NFT ecosystem reveal that royalties paid to NFT projects on Ethereum have reached roughly 699,816 ETH.
An in-depth analysis by on-chain data analytics firm Nansen has found that these royalties, at current prices are worth $1.3 billion, and at the time of the NFT sale the royalties amount to approximately $1.8 billion.
At current prices, that translates to approximately $1.3 billion USD. But it’s important to note that when we price ETH at the time of NFT sale, lifetime royalties are much higher at $1.8 billion USD
— Nansen
(@nansen_ai) July 24, 2023