Nansen Report: Yuga Labs Has Earned Nearly $166 Million in Royalties from Its NFT Series

NFT royalty revenue fell to its lowest level in more than a year in June, according to a report released by Nansen on Wednesday. Royalty revenue had peaked in April 2022, when creators earned 28,000 ETH (nearly $76 million) for the week. Meanwhile, in the peak week of June, creators earned a total of 2,000 ETH (about $3.8 million). Nansen analysts Javier Cerdan and Edward Wilson said that amid competition, both OpenSea and Blur marketplaces are struggling to keep royalties low while incentivizing trading. Royalties have been declining since February of this year, with Blur gaining a greater share of royalties, on par with OpenSea," the pair said. Interestingly, Blur has been dominating the royalty share share for the past two weeks." As of July 4, Yuga Labs has earned nearly $166 million in collective royalties from its line of products, which includes Bored Ape Yacht Club, Mutant Ape Yacht Club and Otherdeed for Otherside. the Azuki line of NFTs (including BEANZ and Elementals) have received more than $58 million in royalties. The report notes that the decline in royalty revenue began before BAYC floor prices fell to a 20-month low, predating Azuki's Elementals casting. In yesterday's news, Nansen data showed that BAYC now has over $58 million in on-chain royalty revenue, Otherdeed for Otherside over $52 million, Azuki over $43 million and Pudgy Penguins over $7.2 million.