Try Quests to earn cryptoFlash Bounty: NFT Royalty Comparison
General condition
As I have already mentioned, Opensea is the largest NFT trading market, therefore it has the highest creator fee in total, and the total creator fee is close to 1.73 billion dollars, which is a very large number, and it is in the next position of Looksrare. has a total of 52.3 million dollars, and in the next ranks are Rarible with 8 million dollars and X2Y2 with 5.8 million dollars. One of the interesting points is that although the total amount of Creator Fee Looksrare is not very high, it has the average amount of Creator Fee with 257 dollars and Opensea is in the second place with 70 dollars. The highest creator fee recorded among the markets is for Looksrare with 1.22 million dollars, which is a very high figure, and it is in the second place of Opensea with 518 thousand dollars, and these figures are 31 thousand dollars in Rarible and 16 thousand dollars in X2Y2.
On the average, the highest percentage for Creator Fee is in Rarible with 6.1%, and in the second place is Opensea with 5.6%, and in the next ranks, X2Y2 is 5.3%, and finally Looksrare is 4.2%.
More Details
The most popular token for payments is Creator Fee on all four platforms, ETH, with the highest amount recorded on Opensea at nearly $1.56B. In all three platforms, except for Rarible, the highest sales of NFTs belong to the group that paid more than 10,000 dollars for Creator Fee, and the highest number of sales is in Opensea with 4.66 million sales. In Opensea, the highest creator fee is for the Art Blocks project, which total creator fee is 93.5 million dollars. In Looksrare, the highest paid creator fee is for the Boredapeyachtclub project, for which the total paid creator fee is $6.3 million. In the Rarible market, the highest creator fee is for the rarible nfts project, which is a total of 4.7 million dollars of creator fee paid for this project. In X2Y2, the highest paid creator fee is $610,000, which is for the Azuki project.
The highest paid creator fee in Opensea is 0x55faf0e5e6e532b1c5799bdeec1a0f193e54a92d, this user paid a total of 2.3 million dollars for creator fee, which is a big number. The user who has paid the most creator fees on Looksrare is 0xa99a76dddbb9678bc33f39919bc76d279c680c89, who has paid a total of $1.2 million for fees. The highest fee payer in Rarible is 0x26968221509909485d2e33c9579f81ce40298921 with 86 thousand dollars and in X2Y2 is 0x26968221509909485d2e33c9579f81ce40298921 who paid a total of 33 thousand dollars for fees.
Effects
As I mentioned earlier, the sales volume of NFTs has a direct effect on the creator fee, and as the sales volume increases, the creator fee also increases.
The point is that the number of NFT sales is not necessarily related to Creator Fee, that is, we can see that in the last few weeks the volume of Creator Fee has decreased significantly, but the number of sales has not changed much.
Project : Ethereum
Bounty Name : Flash Bounty: NFT Royalty Comparison
Question: Which 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.
Date of analysis : 2022-10-06
What is NFT?
An NFT is a digital asset that can come in the form of art, music, in-game items, videos, and more. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. The market for NFTs was worth a staggering $41 billion in 2021 alone, an amount that is approaching the total value of the entire global fine art market.
NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.
This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand. source
NFT Royalties
We know that the creators and artists have huge respect for their works, and the works of these creators are respected, sometimes even worshiped. They have the millennial legacy to take forward. The Digital spectrum and the NFT paved the way to respect the creators and value them with royalties. The NFT royalties have had a huge impact on the crypto era. This helped to encourage the populations of the artist and NFT arts in the NFT space.
The NFT Royalty is offered for the original creator of an asset when they are sold every time. The recursive selling will bring the royalty fees to the creator in the event of valuing their creation and innovation. For example, if an artist mints an NFT art and is listed in the marketplace, the artist will receive 10% from the sale every time. This is the foreseeing and upbringing of an ecosystem that lets people enjoy the crypto ecosystem. source
Volumes overtime
In the first few months of the beginning of this year, when the NFTs market was very popular, the volume of buying and selling NFTs increased a lot, and therefore we can see that the creator fee has also increased.
As you know, Opensea is one of the largest NFT trading markets, and therefore the volume of transactions is very high, and naturally, the volume of Creator Fee is also high, so that only in the last week of January, it was about 67.5 million dollars. It was revealed to be a very large number
In the last few weeks, because the fever of the NFTs market has decreased, naturally, the buying and selling will also decrease, and for this reason, the creator fee will also decrease.
Of course, there is a significant point that in the last few weeks, the percentage of Opensea's dominance in creator fees has decreased from nearly 100% to about 90%, and Looksrare has taken the vacant place of Opensea with the increase of Creator Fee.
Opensea
OpenSea is a marketplace similar to eBay, Etsy, and Amazon, except all the listed items are unique digital collectibles in the form of NFTs that users can buy, sell and mint. The platform is a decentralized, peer-to-peer exchange that enables users to transact with one another directly in a trustless manner.
OpenSea was founded in 2017 by software engineers Alex Atallah and Devin Finzer, who became fascinated by the launch of the popular NFT series CryptoKitties and saw potential in NFTs to enable true ownership of digital items for the first time.
Digital artists and content creators can use the platform to mint NFTs, create custom marketplaces and NFT collections, set fees on their tokens, and create auctions to sell them.
Looksrare
LooksRare is a decentralized, community-first NFT marketplace that actively rewards traders, token stakers, creators and collectors for participating on the platform.
Two unidentified founders going by the pseudonyms “Zodd” and “Guts” launched the platform in January 2022, with a team of 11 members tending to the project’s development. The aim of LooksRare was to dethrone OpenSea from its number one spot in the NFT market. source
Rarible
Rarible enables you to create, buy, and sell digital NFT art like photographs, games, and memes. To use Rarible, all you need is an Ethereum wallet and some ETH. Rarible launched RARI, its native ERC-20 governance token, in 2021 and plans to use the token to gradually cede control of the platform to its community of users.source
X2Y2
X2Y2 is a truly decentralized NFT marketplace on a mission to solve some of the greatest issues in the current NFT marketplace infrastructure.
Methods
Tables I used:
ethereum.core.ez_nft_sales
Platforms: Opensea, Looksrare, Rarible, X2Y2
Metrics
- Volume of Creators Fee per Platform
- Volume of Platforms Fee
- Total Creators Fee per Platform
- Precentage of Creators Fee per Platform
- Min,AVG&Max Creators Fee per Platform
- Top 5 Assets paid for Creators
- Distribution of Number of Sales per Creators Fee
- Top 10 Project with most Creators Fee
- Top 10 Users with most paid Creators Fee
- NFT Sales Volume & Creators Fee
- Number of NFT Sales & Creators Fee
- Number of NFT Buyers and Sellers & Creators Fee
- Number of NFT Projects & Creators Fee
- Platforms Fee & Creators Fee
Thanks for reading
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All data used are from: Flipside Crypto
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My Twitter: Sepehrmhz8
Conclusion
A very important point that we came to from the data analysis is that if the volume of NFT sales of a market is high, the percentage of creator fee is not high because we saw that the market does not have a large volume and number of sales, but the percentage of creator fee is higher than the others.
