Gamestop NFTs Take a Hit as Daily Revenue Drops Below $4000

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Gamestop NFTs
  • GameStop’s NFT marketplaces’ daily revenue drops below $4000.
  • The top 50 developers on GameStop’s NFT marketplace generated just over $10 million in 30 days.
  • HyperViciouZ has the largest 24-hour sales volume on GameStop, earning 29.78 Ether (ETH), worth $47,841.

Since its inception in mid-July, daily revenue for GameStop’s NFT marketplace has plunged to about $4,000. This decline in user interest suggests that the platform is failing to meet expectations. DappRadar reports that in the last 24 hours, GameStop NFT has raked in almost $166,800 in revenue. Since the platform takes only a 2.25% fee on NFT sales, this amounts to just $3,753 in profit.

The statistics page of GameStop’s NFT marketplace displays transaction volume in real-time. Statistics suggest a significant decline in users now that the novelty of the platform has worn off.

As of Friday afternoon, the top 50 creators on GameStop’s NFT marketplace had generated slightly over $10 million in total transaction volumes over the previous 30 days. (Anyone not in the top 50 creators has a negligible effect on the overall figures.)

Even though the platform’s monthly transaction volume is over $10 million, GameStop only receives a 2.25% cut. To put that in perspective, that’s about $250,000 in income or $3 million per year.

In comparison to the project’s first full day of business on July 13, when NFT sales volume of $1.98 million translated to almost $44,500 in fees, the most recent numbers show a considerable decline.

Currently, the HyperViciouZ project on GameStop has made the most 24-hour sales volume, earning 29.78 Ether (ETH) worth around $47,841 at press time. In comparison, the most popular OpenSea project during that time period was Pudgy Penguins, which earned 860.8 ETH ($1.37 million).

Despite this, GameStop wants to add Web3 gaming and more features to its NFT platform over time. That may serve as a catalyst for escalating business activity.

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