Fees & Royalties

Understand the fee structure and royalty system on VTOPIA Marketplace. This section provides detailed information about the costs associated with trading NFTs and how royalties are distributed.

Fees and Royalties on VTOPIA

At VTOPIA, we strive to maintain a transparent and fair fee structure to support the platform and its users. This section explains the various fees you may encounter and how royalties benefit NFT creators.

Fee Structure

Transaction Fees

Buying NFTs:
- Standard Fee: A small percentage fee is applied to each NFT purchase. This fee helps maintain and improve the platform.
- Fee Percentage: Typically ranges from 2% to 5% of the transaction amount, depending on the specific NFT and collection.
Selling NFTs:
- Listing Fee: No fee for listing an NFT for sale on the marketplace.
- Success Fee: A percentage fee is deducted from the sale price upon successful transaction. This is usually between 2% and 5%.
Auction Fees:
- Bidding Fee: No fee for placing bids on auctions.
- Auction Completion Fee: A percentage fee is charged to the seller upon successful auction completion.
Lending and Borrowing Fees:
- Lending Fee: No fee for listing NFTs for lending.
- Borrowing Fee: A small percentage fee on the borrowed amount, typically around 1% to 2%.

Special Fees

Gas Fees:
- Blockchain Fees: Users are responsible for blockchain transaction (gas) fees. These fees are paid to the network and vary based on network congestion.
Staking Fees:
- Staking Commission: A small commission may be applied to rewards earned from staking NFTs.

Royalties

Supporting Creators

VTOPIA is committed to supporting creators by ensuring they receive ongoing benefits from their work. The royalty system allows creators to earn a percentage of each secondary sale of their NFTs.

Royalty Percentage:
- Standard Royalty: Typically ranges from 5% to 10% of the sale price. This percentage is set by the creator at the time of the initial sale.
Automatic Distribution:
- Seamless Payment: Royalties are automatically distributed to the creator’s wallet upon completion of each secondary sale, ensuring timely and hassle-free payments.
Transparency:
- Detailed Reports: Creators can access detailed reports of their earned royalties through their VTOPIA profile, providing clear insight into their ongoing earnings.

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Last updated 9 months ago

Fees and Royalties on VTOPIA

Fee Structure

Transaction Fees

Buying NFTs:

Standard Fee: A small percentage fee is applied to each NFT purchase. This fee helps maintain and improve the platform.
Fee Percentage: Typically ranges from 2% to 5% of the transaction amount, depending on the specific NFT and collection.

Selling NFTs:

Listing Fee: No fee for listing an NFT for sale on the marketplace.
Success Fee: A percentage fee is deducted from the sale price upon successful transaction. This is usually between 2% and 5%.

Auction Fees:

Bidding Fee: No fee for placing bids on auctions.
Auction Completion Fee: A percentage fee is charged to the seller upon successful auction completion.

Lending and Borrowing Fees:

Lending Fee: No fee for listing NFTs for lending.
Borrowing Fee: A small percentage fee on the borrowed amount, typically around 1% to 2%.

Special Fees

Gas Fees:

Blockchain Fees: Users are responsible for blockchain transaction (gas) fees. These fees are paid to the network and vary based on network congestion.

Staking Fees:

Staking Commission: A small commission may be applied to rewards earned from staking NFTs.

Royalties

Supporting Creators

VTOPIA is committed to supporting creators by ensuring they receive ongoing benefits from their work. The royalty system allows creators to earn a percentage of each secondary sale of their NFTs.

Royalty Percentage:

Standard Royalty: Typically ranges from 5% to 10% of the sale price. This percentage is set by the creator at the time of the initial sale.

Automatic Distribution:

Seamless Payment: Royalties are automatically distributed to the creator’s wallet upon completion of each secondary sale, ensuring timely and hassle-free payments.

Transparency:

Detailed Reports: Creators can access detailed reports of their earned royalties through their VTOPIA profile, providing clear insight into their ongoing earnings.