The Fee Structure of OceanSky
A Marketplace for Buying and Selling Non-Fungible Tokens (NFTs)
OceanSky is a platform that allows users to buy and sell non-fungible tokens (NFTs) using cryptocurrencies such as Ethereum (ETH). When using OceanSky, it's important to be aware of the fee structure that the platform uses for transactions.
The fee structure of OceanSky includes two main types of fees
· Minting Fees
OceanSky charges a minting fee of 2% on the sale price of each NFT sold on its platform. This fee is automatically deducted from the seller's earnings when the NFT is sold.
· Gas Fees
Gas fees are paid to the Ethereum network to execute transactions, such as listing an NFT for sale or purchasing an NFT. The amount of gas fee depends on the current network congestion and is paid in Ethereum (ETH) or another cryptocurrency.
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For example,
A seller lists a newly minted NFT on OceanSky for 1 ETH and sells it for the same price.
· OceanSky charges a minting fee of 2% of the sale price, which amounts to 0.02 ETH in this case.
· The Ethereum network charges a gas fee of 0.001 ETH for the transaction.
Therefore, the total fees charged for this transaction would be 0.021 ETH
(0.02 ETH for minting fee + 0.001 ETH for gas fee).
The seller would receive the remaining amount after the fees are deducted from the sale price,
which is 0.979 ETH in this case.
OceanSky offers a platform for buying and selling NFTs using cryptocurrencies, with fees that include minting fees and gas fees. It's important to consider these fees when using the platform and to be aware of any other fees that may apply.
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Thank you for choosing OceanSky as your preferred marketplace for buying and selling NFTs.