NFT Artists Suffer as Royalties Payout Plunged 98%
The NFT market has never seen a worse time for artists.
Royalty payout rates to nft artists on platforms such as blur and opensea has plunged 98%.
This was caused by the constant tension and controversy between traders and the creators of these digital collectibles ever since its conception.
Royalties which peaked $269 million in January have since plummeted to $4.3 million in July, with rates dropping from 5% per transaction to 0.6%.
Is there still a future for digital artists in the abysmal nft market?
Should artists continue to be paid more through royalties over trading volume? Or should we sacrifice creator income for overall market volume?
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Executive Producer: Zheng YI
Producer: Zheng Yi
Editor: Zheng Yi
Camera Operator: Zheng Yi
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