Creators of non-fungible tokens (NFTs) earned over $1 billion from fees on OpenSea with 80% of them went to collections outside the top 10 collections, the marketplace said in a blog post.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
According to the platform, the earnings do not include sponsorship revenue, engagement incentives, or grants as they generated only by creator fees from the resale of their work. OpenSea said:
"Even in a year characterized by tumultuous market conditions, this year’s data proves that creator fees are revolutionary – and that what we’re building more broadly in the NFT ecosystem is working."
OpenSea neither provided details on which NFT collections were the most successful in terms of creator fees nor when was the peak of sales.
Earlier in late October, analysts at Galaxy Digital found that creators of Ethereum-based NFTs made over $1.8 billion in royalties, with 428 collections accounting for 80% of the sales.
The most profit entity turned out to be the developer of Bored Ape Yacht Club, Yuga Labs. According to estimates, the firm's collections made a total of more than $147.6 million in royalties.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange