NFT Market Slump Hits Artists Hard: Payouts to Creators Plunge 98% as Royalties Slashed

The NFT market is experiencing a tumultuous slump, with tensions rising between traders and creators of digital collectibles rising amid controversy surrounding royalties. This friction has resulted from the recent decision by top NFT exchanges, including Blur and OpenSea, to cut royalty rates paid to artists when a token's ownership changes. ...