What fees are incurred on Dropspot?
Learn more about service fees, creator royalties and transaction fees.
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Learn more about service fees, creator royalties and transaction fees.
Last updated
Was this helpful?
You can list NFTs on Dropspot for free. However, once a sale is successfully completed, Dropspot will charge a 2.5% service fee on the transaction. You also may have to account for additional royalties that are paid out to the creator of the NFT collection. Royalties are usually within the range of 2% to 10%. In addition, there are also transaction fees that are incurred for different types of actions on Dropspot.
There are 3 different types of fees on Dropspot:
Dropspot's service fee rate is 2.5% and applies to all sales. As an NFT marketplace, we bring together buyers and sellers on one platform. The selling fees we charge for providing this service is at a rate of 2.5% on each sale transaction, which is always paid by the seller.
NFT royalty is the percentage of the sales price which is paid to the original creator of the NFT or collection. The percentage of creator royalties can vary and creators can set up a royalty fee of their choice. However, on Dropspot the maximum royalty that a creator can set is capped at 10%. These royalties are paid by the seller of an NFT.
When using Dropspot you may incur various different types of transaction fees, which involve trading activity on the Cardano blockchain. These fees are dependant on the current Cardano gas price.
Transaction fees are either paid by the buyer or seller, depending on which party is initiating the final decision for a purchase.
The following table highlights which types of actions incur transaction fees and which ones are free on Dropspot.
Action Type
Incurs Transaction Fee?
Paid By
Create a Collection
No
Not Applicable
Create an NFT
No
Not Applicable
Mint an NFT
No (Verified Creator)
Not Applicable
List an NFT
No
Not Applicable
Reprice an NFT
Yes
Seller
Cancel a listed NFT
Yes
Seller
Buy an NFT
Yes
Buyer
Cancel a Bid
Yes
Buyer
Accept an NFT Offer
Yes
Seller
Transfer an NFT to someone
Yes
Seller
