Highest earning NFT market places worldwide, per month 2020-2021

Published by
Raynor de Best,
Jan 11, 2023
With a revenue generation of over 300 million U.S. dollars in August 2021, videogame Axie Infinity is an example of how DeFi protocols increasingly generate more money. The protocol behind OpenSea - a popular NFT trading platform - made over ten times more protocol revenue in August 2021 than it did one month before. What this means, is that the protocol is essentially creating more revenue "for itself". Protocol revenue - fees taken directly by the protocol and its token owners - is different from supply-side revenue - revenue given to those who use the protocol - and is believed to make up around 13 percent of the total revenue in the DeFi market.

Biggest DeFi applications or dapps that trade NFTs based on monthly protocol revenue from October 2020 up to December 2021 (in million U.S. dollars)

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Sources

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Release date

November 2022

Region

Worldwide

Survey time period

October 2020 to December 2021

Special properties

Protocol revenue is revenue based on fees taken directly by the protocol and its token holders. The source mentions this works similarly to a stock buyback, as it decreased the amount of tokens in circulation. "Revenue" in DeFi consists of both "protocol revenue" and "supply-side revenue" - fees handed out to makers or liquidity suppliers

Supplementary notes

No figures were provided for the well-known dapps Uniswap, Balancer and Syntethix as these platforms do not have protocol revenue, e.g. all their revenue is going to their users.

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