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Chapter 2:
NFT marketplaces
Gas fees on a marketplace

Оглавление

Gas fees are charged when the following actions take place on the blockchain network: buying, selling, in other words, transfer of ownership of the NFT to another person. This whole process requires a lot of energy, thus market participants have to pay compensation for gas.

Gas fees are not fixed, and it can vary greatly. Tariffs fluctuate

1) depending on the level of network congestion. When network is used by many people, the costs will rise.

2) depending on the speed of the transaction. Some platforms allow you to choose your mining speed, so you would pay less commission.

There are two main types of fees:

One-time payments for gas

Some marketplaces will require users to pay a one-time payment for initialisation of crypto wallets. This will be mandatory for those users who have not previously sold NFTs on the market.

Regular gas payments

Regular gas payments are used for general network task. Those are: accepting an NFT offer you listed, transferring ownership of an NFT to someone else, buying NFT, canceling a bid you placed at an NFT auction, and more.

Those markets are the best for artists at the moment:

Opensea

Rarible

Foundation

Binance

SuperRare

Sotheby's

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