Try Quests to earn cryptoWhich platform is the king of NFT royalties?
Compare royalty payouts of 3 NFT marketplaces. Then choose at least 2 additional metrics to evaluate the impact of royalties on NFT market activity
📝Introduction
What are NFTs
A non-fungible token is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.
OpenSea is the world's largest decentralized peer-to-peer exchange marketplace for the acquisition and trade of NFTs.
Rarible is an Ethereum-based platform that facilitates the creation, sale, and purchase of ownership rights to digital works of art via non-fungible tokens (NFTs).
LooksRare is a community-first NFT marketplace that vows to focus on rewarding traders, collectors and creators.
X2Y2.io is an NFT marketplace with the goal to build a truly decentralized NFT market and give it back to the community.
What are NFT Royaltys?
NFT royalties give artists a percentage of the sale price each time their artwork is resold. No matter how many secondary sales occur, the royalties will always be paid back to the original creator, and the best part is that the whole process is automated.
✍🏻method
in his dashbard we will look at the NFT Royality activity across diffrent NFT marketplaces on Ethereum and we want to find :
Which platform is the king of NFT royalties?
- the following table are used to extract data:
> ethereum.core.ez_nft_sales→ This table is used to check Nft sale on ETH
>
> \
code:
> \
select date_trunc('month',block_timestamp) as "block month", platform_name as "NFT marketplace", count(distinct tx_hash) as "TXn count", sum(creator_fee_usd) as "royalty USD", sum(price_usd) as "USD volume", avg(price_usd) as "avg price", sum("royalty USD") over (partition by "NFT marketplace" order by "block month") as "cumulative royalty USD", COUNT(DISTINCT BUYER_ADDRESS) as "buyers count", sum("USD volume") over (partition by "NFT marketplace" order by "block month") as "cumulative USD volume", sum("TXn count") over (partition by "NFT marketplace" order by "block month") as "cumulative TXn count", "royalty USD" / "USD volume" * 100 as "Creator fee percent", sum("Creator fee percent") over (partition by "NFT marketplace" order by "block month") as "cumulative Creator fee percent" from ethereum.core.ez_nft_sales where creator_fee_usd > 0 and project_name is not null group by 1,2 order by "block month" asc
1- Royality on NFT marketplaces
Findings:
Most of the transactions are done to sell NFTs on Opensea.
The highest number of sales was in January 2022. Over 1.85M transactions on opensea, 15.71K transactions on Looksrare and 986 transactions on Rarible.
The highest number of sales on Raribel was in March 2021 with 41.3K transactions.
The highest number of sales on Looksrare was in May 2022 with 29.8k transactions.
The highest number of sales on X2y2 was in July 2022 with 9.97k transactions.
The least number of transactions overtime was on x2y2.
The largest volume of NFTs sold belongs to Opensea.
The highest volume of NFTs sold was in January 2022. This month, $4.25 billion was used for NFT sales on Opensea, $198.97 million on Looksrare, and $2.3 million on Rarible.
The highest volume on Looksrare was in May 2022 with $326.52 million.
The highest volume was in X2y2 in May 2022 with $20.07 million.
The highest volume on Rarable was in January 2022 at $2.30 million.
The lowest volume in X2y2 was in March 2022 with 335.86 thousand dollars.
The highest royality was on January 2022. On this month, the total royality on Opensea was the most, with $239.13 million, the royality on Rarible was almost 181.3 thousand dollars, and the royality on LooksRare was $8.1 USD million.
The highest royality on Rarible was on march 2021, with $2 million.
The highest royality on LooksRare was on may 2022, with $14 million.
The highest royality on X2y2 was on May 2022, with $1.07 million.
2-Creator Fee Percent
Findings:
The highest Creator Fee Percent was on September 2021. On this month, Creator Fee Percent on Rarible was 16.5, on opensea was 5.17 .
The highest Creator Fee Percent on opensea was on July 2020, with 6.68
The highest Creator Fee Percent on Looksrare was on june 2022, with 4.53
The highest Creator Fee Percent on X2y2 was on March 2022, with 5.65
3- Share of Royality USD
Findings:
opensea has about $6.26 billion royalties in 2022 and until today, which is equivalent to 60.1% of its total royalties. And in 2021, it was $4.14 billion dollars, which was equivalent to 39.1% of its total royalty.
looksrare has about 471 million dollars in royalties in 2022, which is equivalent to 100% of its total royalties because the platform was built in 2022
rarible has about $1.83 million in royalties in 2020, which is 3.8% of its total royalties. And in 2021, it was 43 million dollars, which was equivalent to 89.6% of its total royalties. And in 2022, it was 3 million dollars, which was equivalent to 6.58% of its total royalties.
x2y2 has about 105 million dollars in royalties from the beginning of 2022 until now
4- Project with most Royality usd and usd volume
Findings:
The first NFT collection with the most royalities on opensea is art blocks collection. The royalites of this collection on Opensea is $93.6 million
The second collection is Bored Ape Yacht Club. The royalities of this collection on Opensea is $47.4 million
The third collection is Otherdeed for Otherside .The royalities of this collection on Opensea is $47.4 million
the fourth collection is MUTANT APE YACHT CLUB. The royalities of this collection on Opensea is $47.4 million
the fifth collection is Azuki. The royalities of this collection on Opensea is $47.4 million
The first NFT collection with the most royalities on rarible is rarible nfts collection. The royalites of this collection on rarible is $4.71 million
The second collection is rarible The royalities of this collection on rarible is $1.03 million
The third collection is coke boys LA Sneaker The royalities of this collection on rarible is $349.15k
The fourth collection is crypto punk v2 The royalities of this collection on rarible is $155.38k
The fifth collection is wrapped cryptopunks The royalities of this collection on rarible is $133.71k
The first NFT collection with the most royalities on looksrare is Bored Ape Yacht club collection. The royalites of this collection on looksrare is $6.33 million
The second collection is Otherdeed for Otherside The royalities of this collection on looksrare is $5.1 million
The third collection is Azuki The royalities of this collection on looksrare is $4.87 million
The fourth collection is MUTANT APE YACHT CLUB The royalities of this collection on looksrare is $4.70 million
The fifth collection is moonbirds The royalities of this collection on looksrare is $3.16 million
The first NFT collection with the most royalities on x2y2 is Azuki collection. The royalites of this collection on x2y2 is $609.2k
The second collection is moonbirds The royalities of this collection on x2y2 is $438.73k
The third collection is goblintown The royalities of this collection on x2y2 is $343.23k
The fourth collection is projectpxn The royalities of this collection on x2y2 is $337.19k
The fifth collection is Otherdeed for Otherside The royalities of this collection on x2y2 is $293.8k
✍🏻conclusion
From January 2022, when the highest royalties in opensea was 239 million dollars, royalties gradually decreased, reaching 10 million dollars in September 2022.
In general, the volume of trade, total sales transactions and royalties have decreased significantly in all platforms
About 96.3% of the royalty market share is dominated by Opensea. And 2.91% is owned by looksrare, 0.446% is owned by rarible, and 0.325% is owned by x2y2.
The total royalites in opensea is about 1.480 billion dollars, while for looksrare it is 47.801 million dollars and for rarible is $7.840 million and for x2y2 is $3.475 million
According to this analysis, Opensea platform is the king of NFT royalties.