Solana Grabs 55% Blockchain Royalties with $374K in Weekly NFT Earnings

Solana has surpassed all other blockchains combined in weekly chain royalties from NFTs. According to SolanaFloor, a Solana news source, Solana earned $374K in royalties, capturing 55% of the total royalties across all blockchains. This is a significant lead, as the total royalty earnings from NFTs reached $678.6K.

Ethereum Follows Solana in $NFT Royalties, Earns $212K

Ethereum is second on the list with $ 212.9K in royalties and has 31% of the market dominance. Even though Ethereum reigns supreme in the $NFT market, its revenues are significantly lower than Solana’s, which indicates the increasing use of Solana in the $NFT market.

This is followed by Polygon with $73.6K in royalties asserting an 11% market share. Its share indicates that blockchain still remains relevant in the $NFT market but is outperformed only by Solana and Ethereum.

Base Blockchain Earns $17.7K in $NFT Royalties

Smaller blockchain Base received $17.7K in royalties while owning only 3% of the total. Although it is small, it indicates the vast number of blockchains involved in the $NFT market.

The dominance of Solana in the royalties is yet another achievement for the blockchain and has placed it firmly on the map of $NFT. Some of the reasons that could be attributed to the success of the platform include low transaction fees and fast processing time. Since Solana is still moving at a faster pace than its competitors, it can be stated that this platform is gradually becoming a leader in the actively developing market of NFTs.