25 February, 2024

GameStop NFT Daily Fee Earnings Drops Below $4,000

2 years ago

12 Dec, 2023

According to a report by Cointelegraph, the daily revenue of GameStop’s non-fungible token (NFT) marketplace has dropped to below $4,000 since the platform’s inception in the middle of July. This indicates that interest in the site has sharply decreased.

According to information provided by DappRadar, the value of the sales volume created by GameStop NFT during the course of the previous twenty-four hours was around $166,800. Due to the fact that the platform takes a charge of just 2.25% on NFT sales, the aforementioned statistic only represents $3,753 in income during that period of time.

The transaction volumes have decreased to slightly more than one million dollars among the top 50 creators for the previous week, which is less than five million dollars each month, whereas the platform used to achieve 10 million dollars in transactions monthly. The NFT marketplace at GameStop has initially been expanding toward profitability, however recently, it is getting farther and further away from that aim.

As of the time this article was written, the HyperViciouZ project on GameStop had produced the highest 24-hour sales volume with 29.78 Ether (ETH), which is approximately equivalent to $47,841 in value. In contrast, Pudgy Penguins was OpenSea’s most successful project during that time span, with sales totaling 860.8 ETH, which is equivalent to $1.37 million.

However, GameStop is not the only one that is experiencing difficulties. Since the start of August, the BAYC floor price has seen a drop that amounts to 19%, according to the data that was obtained from the NFT Price Floor. During this time, the MAYC floor has seen a decline of 28.6%.