What fees are incurred on Dropspot?
Learn more about service fees, creator royalties and transaction fees.
How much does Dropspot cost?
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.
Different Types of Fees
There are 3 different types of fees on Dropspot:
Service Fees
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.
Royalty Fees
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.
Good to Know: Rest assured that every time a creator's work is traded, royalties are going back to the original creator, not Dropspot. 😃
Transaction Fees
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.
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