While no calculation for royalties will be perfect, we are comfortable with Flipside’s methodology in ingesting, transforming, cleaning, and storing Ethereum NFT trading data. The specific data source we are referencing in these calculations is Flipside’s _nft_sales SQL database table, where we are filtering on records where the creator_fee_usd parameter is greater than 0. The reality is that royalties aren’t a primitive that inherits the same on-chain permanence that has been taken for granted in the crypto space.Īll of our data, including our top-line $1.8bn in royalties earned and entity/collection-level metrics, were calculated using Flipside’s data tables. Yet recent pushback against the royalty model in the broader crypto community is poised to threaten what was once posited as a core value proposition of NFTs. In fact, just 10 entities accounted of 27% of all royalties earned and 482 NFT collections accounted for 80% of all royalties earned thus far. Major brands in NFTs, across both legacy players and crypto-native organizations, have raked in hundreds of millions of dollars in income from royalties generated on secondary sales. In addition, the average royalty percentage paid out to creators on OpenSea, the platform that has paid out the most royalties to creators by far, has doubled from 3% to 6% over the past year. Over $1.8bn worth of royalties have been paid out to creators of Ethereum-based NFT collections.
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