Will Opera Crypto Browser succeed at renewing an interest in NFTs in 2023

3 December 2022

in Meta News

Reading Time: 2 mins read

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 ecosystems company Alteon and integrated into Opera’s crypto browser. Furthermore, it would provide users with an easy, no-code way to create digital artwork.

Dropping media files into the tool launchpad will allow them to be previewed and converted into copyrighted material, which will then be shared, stored, or sold.

Susie Batt, the Crypto Ecosystem Lead at Opera, said,

“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.”

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 analytics tool for discovering and tracking collections. The tool provided on-chain data such as whale trades, as well as social signals such as collections’ social media footprints and interest among NFT insiders.

Research And Markets recently released the Non-Fungible Tokens (NFT): Global Market report. It stated that even though NFTs experienced a rapid rise in 2021; the growth was unsteady and plateaued in 2022.

NFT Market on a surge?

The value of the global NFT market in 2022 stood at $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

Furthermore, in October, Galaxy Digital released a research report containing data on royalty payments. Royalties over $1.8 billion have been paid to creators of Ethereum [ETH]-based art collections. Over the past year, the average royalty percentage paid out to creators on OpenSea doubled from 3% to 6%. Additionally, the platform that paid out the most royalties to creators is OpenSea.

Ten entities accounted for 27% of all NFT royalties collected to date. Additionally, 482 collections accounted for 80% of all royalties earned. So far, eight major brands have received nearly $100 million in royalty payments.