Creators Net 76% of Funds
OpenSea New Reports
OpenSea has recently reported that $144.5 million was collected in fees from users and most of that money went to the creators. In a Tweet from Token Terminal it was disclosed that only $35 million of the $144.5 million actually went to OpenSea. The news is not surprising as the NFT platform only asks for 2.5% of all sales for their fees.
OpenSea still has a massive grip on the NFT marketplace, controlling more than 90% of all sales.
NFTs still in decline
Over this year NFT sales volume has seen a sharp decline with a drop from $5.2 Billion to a current high of $349 million this past September. This drop in sales could be an influence on the fees paid by users and revenue taken in by OpenSea.
The decline is due to many factors. The bear market has been going on since the beginning of the year and that has changed sentiment towards spending on the technology, this coupled with a reduced interest in NFTs the way they are now and the macroeconomic conditions that have limited market liquidity has led to a complete decrease in sales all around.
Totally the sales volume of NFTs overall was $1.26 billion , according to information given by Dune analytics and NFTgators
Most of that volume still came from Ethereum though Solana has been stated to be the best blockchain for NFTs at the moment. Solana has seen its market share use rise 91% in September to almost reach 10% of all NFT sales volume, Ethereum fell 95% in September. Solana has recorded the most number of new users by 41% in the month of September making the blockchain home to 27% of all NFT users while ETH users fell by 9.5%.
A shining light
It is likely this may all change as October comes about. The market performance of Ethereum since the beginning of the month looks promising as NFT sales on Ethereum exceeded $10 million with 18,895 transactions resulting in a 30% increase compared to September.
Other blockchains have also seen an increase with Solana having sales volume increase by 28%, and BNB an increase of 27%
