1. Rarible, an NFT marketplace, saw a significant 653% increase in 24-hour fiat trading volume.
2. The boost in trading followed Rarible's public support for maintaining NFT
#creator royalties.
3. Rival marketplaces like OpenSea rolled back support for royalties, triggering a shift in the NFT landscape.
4. Data from DappRadar revealed Rarible's 24-hour volume at $1,500 across 38 sales on August 23.
5. OpenSea experienced a 15% decrease in trading volume during the same period.
6. Other platforms,
#LooksRare and X2Y2, saw 5.8% and 14% respective volume increases.
7. Rarible's co-founder Alex Salnikov announced they won't support marketplaces neglecting royalties and will stop aggregating orders from certain platforms.
8. Salnikov emphasized the value of compensating creativity in the NFT sector.
9. OpenSea previously stopped enforcing
#NFT creator royalties in February, leading to changes in the market.
10. Ethereum-based NFT projects' royalties hit a two-year
#low in July, according to Nansen analytics.
$RARE