So okay okay...the title of this post is mostly a joke.
So a couple months ago I minted an NFT for like $150. lets see some of the fees that went into this.
Going to approximate since I dont remember them exactly.
Item sold for about 1ETH today
- $30 minting transaction fee
- $70 open sea fee to list item for sale at fixed price
- $50 open sea fee to later change sale to an auction
- $316.5 (10% creator fee)
- $158.25 (5% royalty fee)
- $94.85 gas transaction fee to complete sale.
Are you kidding me. Like yah overall I made money on this sale but this is insane. Seems the only reason this is considered acceptable is because people are making a ton of speculative trading anyway.
This is not a sustainable model to drive mainstream adoption though.
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