Will Opera Crypto Browser succeed in renewing interest in NFTs in 2023
- Opera Crypto Browser to add a drag-and-drop NFT creation tool
- Despite 2021’s significant growth on the NFT front, 2022 witnessed some roadblocks
Opera Crypto Browser announced that it will add a drag-and-drop NFT creation tool in early 2023. The launchpad will be developed by cloud-based ecosystem company Alteon and integrated into Opera’s crypto browser. Furthermore, it will provide users with an easy, code-free way to create digital artwork.
If you drop media files into the tool launch bar, they can be previewed and converted into copyrighted material, which will then be shared, stored or sold.
Susie Batt, the head of the crypto ecosystem at Opera, said:
“Opera Crypto Browser is all about exploring the Web3 privately and securely. With Alteon LaunchPad, we give users the opportunity to freely contribute to this ecosystem. Now our users will be able to create NFTs instantly and easily without platform usage fees, encouraging more people to explore the burgeoning NFT industry.”
It was in January that Opera took the first step into crypto and launched its crypto browser.
The tool’s announcement followed November’s introduction of Opera’s DegenKnows, an NFT analysis tool for discovering and tracking collections. The tool provided chain data such as whaling, as well as social signals such as collections’ social media footprint and interest among NFT insiders.
Research And Markets recently released the report Non-Fungible Tokens (NFT): Global Market. It stated that although NFTs experienced a rapid increase in 2021; growth was unstable and plateaued in 2022.
NFT market on the way up?
The value of the global NFT market in 2022 was $37.6 billion. It was expected to reach $125.6 billion by 2027, at a compound annual growth rate (CAGR) of 27.3%.
Source: Research and markets
In October, Galaxy Digital also released a research report containing data on royalty payments. Royalties over $1.8 billion have been paid to the creators of Ethereum [ETH]-based art collections. Over the past year, the average royalty percentage paid to creators on OpenSea has doubled from 3% to 6%. In addition, the platform that paid the most royalties to creators is OpenSea.
Ten entities accounted for 27% of all NFT royalties collected to date. In addition, 482 collections accounted for 80% of all royalties earned. So far, eight major brands have received nearly $100 million in royalty payments.
