Data: NFT content creators’ royalties in July fell by 95% from the peak in January 2022

Odaily Planet Daily News Token Terminal data shows that the reduction in artist income may hinder the launch of new works, resulting in the rigidity of the NFT market, whose transaction volume has dropped by 95% from $17 billion in January 2022. Monthly royalties peaked at $269 million at the time, but were only $4.3 million in July this year, Nansen said, as the rate paid per transaction fell from as high as 5 percent to 0.6 percent. Phillip Kassab, head of NFT and game growth at Sei Labs, said that (cutting royalties by platforms such as Blur and OpenSea) is a short-sighted strategy that ignores the subtleties of empowering traders and creators for sustainable success in this field. Facts on balance. Cumulative monthly royalties reached $1.5 billion between August 2021 and May 2022, according to Nansen data, fueled by the popularity of NFT collections such as Yuga Labs Inc.’s Bored Ape Yacht Club. As the NFT market slumped, creator spending subsequently plummeted. (Bloomberg)