sudoswap (SUDO)
sudoswap (SUDO)
View coin
News
23 Sep 2022

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

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

SudoAMM, the royalty-free NFT trading platform, has achieved over $50 million in total trading volume, the crypto data tracker Dune Analytics shows. 

The automated market maker (AMM) also hit other milestones, surpassing over 90,000 total transactions, seeing 29,000 users and amassing $251,000 in total platform fees. 

SudoAMM's total trading volume via the user 0xRob.

SudoAMM was launched in July from the same team as Sudoswap, a decentralized NFT marketplace. SudoAMM sparked controversy last month when, in an effort to keep fees as low as possible, the platform removed royalties — a then-staple among NFT marketplaces. 

Royalties allow NFT artists to earn revenue from NFT transactions beyond the primary sale, but they were a phenomenon mostly enforced by marketplaces. Because of NFT wrapping and the decentralized nature of Ethereum, there’s no viable way to enforce NFT royalties on-chain.

The high usage and trade volume shows that, despite its controversy, SudoAMM still manages to bring in a strong contingent of NFT traders who don’t mind forgoing royalties.

No other news.
No upcoming event.

3 coins to keep an eye on 👀

Subscribe to receive a weekly selection of 3 coins to watch closely, based on upcoming events and technical analysis.