How the exact % are divided and what you can expect after the primary sale.
Fees on sales
On primary sales (the first time an artwork is sold, also known as a mint sale):
- The Artist receives 90% of the sale amount.
- Authic receives 10% of the sale amount.
On secondary sales (which is any sale following the primary sale):
- The seller receives 87.5-100% of the sale amount depending on the royalty choice of the initial artist.
- The original artist receives between 0 and 12.5% of the sale amount as a royalty, depends on his preference
On all sales, there's a 3% marketplace fee added on top of the sale price that's paid for by the buyer, this goes to the Authic.
What is a gas fee?
Gas refers to the fee required to successfully conduct a transaction on Ethereum. Gas fees go directly to Ethereum miners who provide the computer power that's necessary to verify transactions and keep the network running.
Do gas fees go to Authic?
No, gas fees do not go to Authic, but to the miners providing the network.