Executive Summary: The Ultimate Guide to NFT Royalties and NFT Marketplaces in 2023
In this article, I analyze the 2023 NFT market, explaining the concept of NFT royalties and how top Ethereum and Solana marketplaces like OpenSea and Magic Eden are dealing with them. I also examine potential trends like vertical niches and brand-owned platforms.
Summary: The article analyzes the NFT market in 2023, explaining NFT royalties and how marketplaces are removing them, profiling top Ethereum and Solana marketplaces, and examining trends like vertical niches and brand-owned platforms.
NFT market overview:
- Volumes dropped in 2022 but slight recovery in 2023.
- Consolidation period ahead as market deals with issues.
NFT royalties:
- Royalty fees paid to creators on each sale, usually 3-10%.
- Provide passive income, incentivize community-building.
- Marketplaces removing royalties to attract traders.
Top marketplaces:
- Ethereum: OpenSea, Blur, X2Y2, LooksRare.
- Solana: Magic Eden, Solanart, Hadeswap.
- Most reinstated royalties after OpenSea blacklist.
Marketplace outlook:
- Vertical niche platforms may emerge.
- Brands launching own platforms for control.
- Market leaders won't disappear due to scale.
Full article:
The Ultimate Guide to NFT Royalties and NFT Marketplaces in 2023 | CoinMarketCap
An overview of the current state of NFT marketplaces, and how the debate over NFT creator royalties are dividing the space.
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