Major NFT Creators Challenge Royalty Reductions

Major NFT Creators Challenge Royalty Reductions



Key NFT creators, including Yuga Labs and Bored Ape Yacht Club, rethink their presence on leading platforms Blur and OpenSea, in response to recent reductions in royalties.



Prominent entities in the NFT domain, such as Yuga Labs Inc., behind the Bored Ape Yacht Club and CryptoPunks, and the Pudgy Penguins series, are reassessing their ties with major marketplaces like Blur and OpenSea. Some are pausing new listings or thinking about such moves, as highlighted by Bloomberg articles.



In the current year, Blur and OpenSea have notably decreased the royalty amounts artists earn from sales in the secondary market, in a bid to increase transaction numbers amidst a waning NFT market. Data from analytics firm Nansen indicates that September's royalties were a mere $2.4 million, a stark drop from the $269 million peak in January.The NFT


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#Bitcoin, #Blur, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #NFT, #Opensea, #Regulations

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