• Ethereum-based NFT projects like BAYC have seen a two-year low in royalties.
• The top 10 NFT collections have generated more than $345 million in royalties, with Yuga Labs earning 44 percent of that total.
• 20 different NFT projects have earned over $10 million in royalties so far.
Ethereum NFT Royalties Reach Lowest Point in Two Years
Royalties in Ethereum-based NFT projects like BAYC dropped to a two-year low amid the major slowdown in the NFT market. Blockchain analytics firm Nansen recently reported that royalties earned through non-fungible tokens (NFT) projects have reached their lowest points since April 2022.
BAYC Creators Earn Most Through Royalties
Nansen data shows the top 10 NFT collections have made more than $345 million in royalties, with Yuga Labs having a 44 percent share. BAYC creator Yuga Labs earned a total of $165.5 million in royalties across its entire portfolio of NFT collections. RTFKT has made a significant sum of $79.9 million from its various collections, featuring popular items like CloneX.
Azuki and Proof Generate Significant Revenues
Azuki has earned an impressive $58.2 million from its collections, which include Zuki, Beanz, Elemental Beansa, and Elementals. Similarly, Proof has accumulated $35 million from its Moonbirds collection.
Doodles Accumulates Hefty Sum From Collections
Doodles has accumulated $27.4 million from its collections, which include Doodles, Space Doodles, Genesis Box and Dooplicato..