Summary: The article analyzes the NFT market in 2023, explaining NFT royalties and how marketplaces are removing them, profiling top Ethereum and Solana marketplaces, and examining trends like vertical niches and brand-owned platforms.
NFT market overview:
- Volumes dropped in 2022 but slight recovery in 2023.
- Consolidation period ahead as market deals with issues.
- Royalty fees paid to creators on each sale, usually 3-10%.
- Provide passive income, incentivize community-building.
- Marketplaces removing royalties to attract traders.
- Ethereum: OpenSea, Blur, X2Y2, LooksRare.
- Solana: Magic Eden, Solanart, Hadeswap.
- Most reinstated royalties after OpenSea blacklist.
- Vertical niche platforms may emerge.
- Brands launching own platforms for control.
- Market leaders won't disappear due to scale.