Home » OpenSea: NFT creators earned over US$1 billion in fees this year

OpenSea: NFT creators earned over US$1 billion in fees this year

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Homepage of OpenSea NFT Marketplace (Source: Company)
Homepage of OpenSea NFT Marketplace (Source: Company)

According to OpenSea, NFT creators have earned over US$1 billion so far this year (based on sales closed on the platform between January 1st and November 23rd). This amount does not include grants, incentives or sponsorships. Over 80% went to the less popular collections and the rest to his NFTs in the Top 10.

It’s been less than a decade since the first NFT was created. quantum, created by Anil Dash and Kevin McCoy in May 2014, the field has taken off to reach impressive dimensions. first NFT project, Etheria, arrived in 2015 and remained in the dark until mid-March 2021, with sales of around US$1.4 million. The market stalled in 2022 after two years of solid growth. While NFT sales dropped sharply by mid-2022 compared to his 2021, OpenSea says the creator has made more than US$1 billion this year (by November 23rd, to be exact). I am reporting that.

The impressive numbers above only include revenue generated by creator fees from reselling NFTs. In many cases, NFT creators also benefit from sponsorships, engagement incentives, and grants. Only 20% of the US$1.1 billion generated this year made it into his collection of top 10 NFTs, according to OpenSea data. This top is based on the commission-based earnings of the creators of the collection and nothing else.

In the future, we plan to release OpenSea completely. Drop mint experience with the goal of “Expanding the canvas of storytelling” Improve the platform experience for both creators and their followers. For now, this is one of the more interesting NFT-related projects to watch, and time will tell if the market can regain its former glory.

Buy The Web 3 Guide – Cryptocurrencies, NFTs, Metaverses and Tokennomics Explained (by Malcolm Frank) at Amazon

Disclaimer: The information reported here should not be used as the basis of personal investment decisions. Notebookcheck does not provide cryptocurrency, NFT or other trading, investment or financial advice.

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