According to The Block, a new report from the research arm of Galaxy Digital showcases key data for NFT royalties. Royalties for Ethereum-based NFT projects earned a total of $1.8 billion in revenue. The top 10 NFT projects netted $489 million, or 27% of all royalties earned. While NFT royalties also benefit small artists, the main beneficiaries are top NFT projects like Bored Ape Yacht Club and corporations like Nike. Yuga Labs, with its Bored Ape, Mutant Ape and Otherside projects, brought in $147.6 million in royalties, followed by Art Blocks with $82 million. Sportswear firm Nike earned over $91.6 million from NFT royalties, the highest among prominent web2 brands.
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