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Opera Crypto Browser to Launch Tools to Simplify NFT Creation

Opera Crypto Browser would include a tool for building NFTs using a drag-and-drop interface.

Photo by Christopher Burns / Unsplash

It was announced (1) that early in 2023, Opera Crypto Browser would include a tool for building NFTs using a drag-and-drop interface. The cloud-based ecosystems business Alteon will be responsible for developing the launchpad, and it will eventually be integrated into Opera's crypto browser. In addition to this, it would make it simple for people to create digital artwork without the need for any coding.

Dropping media files onto the tool's launchpad allows users to preview and convert them into copyrighted content that may be shared, preserved, or sold.

According to Susie Batt, who is in charge of the Crypto Ecosystem at Opera,

"Opera Crypto Browser is all about exploring Web3 privately and securely. With Alteon LaunchPad, we are giving users the opportunity to contribute freely to this ecosystem. Now, our users will be able to create NFTs instantly and simply with no platform usage fees, encouraging more people to explore the burgeoning NFT industry."

Opera made its initial foray into the cryptocurrency market by releasing its cryptocurrency browser in January.

This product's announcement was made (2) after the launch of Opera's DegenKnows in November, an NFT analytics tool for finding new collections and keeping tabs on existing ones. This platform provides on-chain data such as whale trades and social signals such as the social media footprints of collections and interest among NFT insiders.

A report titled Non-Fungible Tokens (NFT): Global Market (3) was just recently made available by Research and Markets. It was said that although NFTs had a meteoric surge in 2021, the growth had been erratic and reached a plateau in 2022.

Source: R&M (2.1)

Are we seeing a rise in the NFT Market?

In 2022, the total value of the global market for NFTs was estimated to be $37.6 billion. At a CAGR of 27.3%, analysts anticipated it would reach $125.6 billion by 2027.

In addition, Galaxy Digital published (4) a study report in October that included information on the royalties payments. Creators of Ethereum (ETH)-based art collections have been compensated with over $1.8 billion in royalties.

The typical royalty percentage paid out to creators on OpenSea has increased from 3% to 6% over the last year. In addition, OpenSea is the platform that has distributed the greatest amount of royalties to content providers.

Source: Galaxy (5)

Ten entities were responsible for 27% of all of the NFT royalties that were collected to date. In addition, 482 collections were responsible for 80 percent of the royalties. Royalty payments of over $100 million have been distributed to eight large businesses up to this point.