sales volume
Nifty News: LooksRare the latest NFT market to sack royalties, Twitter’s tweeting tiles and more
Nonfungible token (NFT) marketplace LooksRare is the latest in a string of NFT markets to do away with enforcing creator royalties by default, following the likes of Magic Eden and X2Y2. The platform tweeted on Oct. 27 that it would not be supporting creator royalties by default, instead choosing to share 25% of its protocol fees with NFT creators and collection owners. Buyers can still choose to pay royalties when purchasing an NFT but it will be on an opt-in basis. Explaining the changes, it said 0.5% of its 2% protocol fee would go to collections, as long as that collection has a receiving address for the funds. LooksRare said the willingness of buyers to pay royalties has “eroded” as a result of many NFT markets now moving to a zero-royalty model adding that these disadvantage cre...
WSJ says ‘the NFT market is collapsing’ but the data says otherwise
An article in the Wall Street Journal has claimed sales of non-fungible tokens (NFTs) are “flatlining” — in the same week that the top five collections alone accounted for more than $1 billion in primary and secondary sales. The article cited data from NFT market analysis platform Nonfungible suggesting the number of NFT sales has fallen by 92% since an all-time high in September 2021. Wallets active in the Ethereum (ETH) NFT market were also said to have declined by 88% since a high in November 2021. “The NFT market is collapsing,” the article concluded. Red line shows number of sales with volume on left y-axis, white shows active market wallets, volume on right y-axis. Source: Nonfungible However, onchain data from Dune Analytics’ dashboard suggest that the NFT market is still robust, wi...
