Web3 creators at higher a loss for royalties than anticipated: data

Web3 NFT creators might be facing higher royalty losses than previously anticipated according to new data.

Figure 2: Fees paid vs shortfall for the Mutant Ape Yacht Club NFT collection. Souce: eBit Labs. The tool gives creators the ability to flag an NFT or blur the image if the listing or trade bypasses royalty rules.

Nonetheless, Boris Pevzner, the co-founder and CEO of LiveArt, said that despite the Web3 ecosystem touting itself as a “creator-centric space,” the new data shows reality falling short of this promise.Pevzner continued to say that if NFT marketplace wars repel artists from wanting to participate in the industry, “the space will lose its creative spirit and become more like the stock market.”onto the scene, which has targeted OpenSea’s market share.

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