What are transaction fees? [133, JL]

The owner of a Whitelabel NFT Hub powered by NFT.Kred may choose to charge a transaction fee on NFT sales in their marketplace.

Including a Hub transaction fee means that a percentage of each NFT sale will be given to the Hub owner. Such fees are payable from the total sale price and are not in addition to that price.

For example:

  1. A Hub owner sets a transaction fee of 10% in their NFT Hub
  2. An NFT is sold from User A to User B in that NFT Hub for $100
  3. User B pays a total of $100
  4. Payments are split as follows:
    1. The Hub owner receives 10% of the total sale = $10
    2. The remainder is received by the User A = $90

 

[133, JL]