NFT Creators Are Suffering and so Are Marketplaces

While Magic Eden’s trading volume fell to a low of 56,556 SOL, or $1,854,471, on October 14, the day Magic Eden said it would go royalty optional, according to data from Dune, it has bucked the downward trend of the other marketplaces abandoning royalties. As of writing, it is at 170,726 SOL, or $5,688,590, a surge that can be credited to a new drop from Y00Ts, showing the power of popular collections to drive trading volume.