Royalty-free NFT platform SudoAMM surpasses $50 million in volume months after launch

NFT

SudoAMM, the royalty-free NFT buying and selling platform, has achieved over $50 million in whole buying and selling quantity, the crypto knowledge tracker Dune Analytics exhibits. 

The automated market maker (AMM) additionally hit different milestones, surpassing over 90,000 whole transactions, seeing 29,000 customers and amassing $251,000 in whole platform charges. 

SudoAMM’s whole buying and selling quantity by way of the person 0xRob.

SudoAMM was launched in July from the identical workforce as Sudoswap, a decentralized NFT market. SudoAMM sparked controversy final month when, in an effort to maintain charges as little as doable, the platform eliminated royalties — a then-staple amongst NFT marketplaces. 

Royalties enable NFT artists to earn income from NFT transactions past the first sale, however they have been a phenomenon largely enforced by marketplaces. Due to NFT wrapping and the decentralized nature of Ethereum, there’s no viable solution to implement NFT royalties on-chain.

The excessive utilization and commerce quantity exhibits that, regardless of its controversy, SudoAMM nonetheless manages to herald a robust contingent of NFT merchants who don’t thoughts forgoing royalties.