Fees
Everything you need to know about the various fees on GhostMarket platform, how they are calculated and who pays and receives them.
For calculation purposes, GhostMarket separates fees into the following categories:
- Royalties
- Trading Fees
- Origin Fees
- Network Fees
Royalties are always honoured first, before any other kind of fees calculation, if present, and deducted from what the seller will get. Then, trading fees (mandatory) and origin fees (optional) are added to the sale price, and paid by the buyer.
Royalties allow content creators to receive an ongoing payment with every sale of their work, for ever.
Royalties are set by the content creator when an NFT is minted and are defined in the NFT smart contract. The royalty is a perpetual fee paid to the content creator every time the NFT is sold and is expressed as a percentage of the sale price (before trading fees are added).
For maximum flexibility, GhostMarket contracts allow for royalties to be specified as an array of objects in the form:
{Address, royalties}. This allows royalties to be divided and distributed to multiple recipients e.g. If the original NFT was the shared creation of 2 artists, they could each receive a share of the royalties with each sale - say 10% royalty each.
GhostMarket trading contracts enforces a maximum combined of 50% royalties per NFT.
On Phantasma anyone can set royalties and GhostMarket contracts will honour them since it's a chain wide feature, nothing particular is required.
On Neo N3, any NEP11 contract can add a method designed by GhostMarket, that allows our trading contract to read and honour them, we also support contract level royalties. If both are set, contract level royalties take precedence.
On EVM blockchains, we support EIP2981 for NFT level royalties, we also support contract level royalties. If both are set, contract level royalties take precedence.Trading fees are GhostMarket commission on each trade.
Origin fees are an additional fee which is specified by anyone placing a NFT on sale, on a per-order basis and is specified by the fee percentage and the account to receive the fee. A typical application for the origin fee is by a 3rd Party website/dapp which uses Ghostmarket to process orders. The dapp could use the "origin fee" parameters to allow them to add their own commission trustlessly.
There are zero Origin Fee (0%) for listings done directly on GhostMarket.io.
To sum up fees mathematically, they are calculated on the sale price of each NFT and are distributed as follows:
Network fees are charged by the blockchain network that the NFT contract is deployed on when traders executed transactions on the network. The amount of these fees is both network and load dependent and is outside of the control of GhostMarket.
On EVM chains, the fees payable are added to sale price before sending to the buyers connected wallet for authorization and signing. On Neo N3 and Phantasma, the fee is not included in the amount signed for, but is charged within the smart contract.
In both cases, the price paid by the buyer includes all fees and they are detailed at the time of purchase.
Last modified 1yr ago