Each time an NFT is sold and resold on Mavis Market, the creator receives a royalty payment, and the seller bears several fees associated with the transaction. This page describes the fees and royalties in greater detail.
Fees incurred by sellers
When selling an NFT on Mavis Market, the seller is charged several fees associated with the transaction.
Here is a breakdown of the fees:
- Creator fee: the fee that is determined by the creators themselves and is typically set as a percentage of the sale price. On average, creator fees on Mavis Market range from 0% to 10%. For example, if a creator sets a 10% fee and the NFT is sold for $100, the creator fee amounts to $10. This fee constitutes a royalty payment for the creator. More on royalties in the next section.
- Service fee that itself includes the following:
- Sky Mavis fee: a fixed 2% fee charged by Sky Mavis for building and maintaining the marketplace.
- Ronin Treasury fee: a fixed 0.5% fee charged by the Ronin network to reward the owners of the network—RON holders, stakers, and validators. Similar to the Katana protocol fee, this fee goes directly to the Ronin Treasury.
To illustrate the impact of these fees, let's consider an example. If you sell an NFT worth $100 and the creator fee is set at 10%, the breakdown of the fees is as follows:
- Creator fee: $10 (10% of $100)
- Sky Mavis fee: $2 (2% of $100)
- Ronin Treasury fee: $0.50 (0.5% of $100)
After deducting these fees from the sale price, the seller receives $87.50 ($100-$10-$2-$0.50).
It's important to keep these fees in mind when selling NFTs on Mavis Market, because they impact the final amount the seller receives from the transaction.
Royalties for creators
When you list your NFTs on Mavis Market, you have the opportunity to set a royalty payment for your creations.
The implementation of royalty payments is usually handled through an NFT smart contract. Whenever the NFT is resold on the marketplace, the smart contract automatically calculates and distributes the amount of royalty to the creator's designated wallet address. This ensures that you receive your rightful royalties every time your NFTs are sold on our marketplace.
Royalties on Mavis Market are calculated as a percentage of the sale price, guaranteeing that you are compensated accordingly each time your NFTs are resold. For instance, a 10% royalty amount on an NFT sold for $1,000 would generate $100 for you every time the NFT is resold.
The Ronin token (RON) serves as the official currency of Mavis Market. When making a purchase on the platform, buyers have the option to pay with AXS, SLP, ETH, which are automatically converted to RON using our exchange system, Katana.