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Originally Posted by StylinRed
What in the fuck....
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I would not be surprised if some people are bidding/buying there own items to pump up the price like whats happening in the retro gaming market. With NFT's you have no idea who the bidders/winners are.
This is also interesting.
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How do fees work? Do I still get to benefit from secondary sales of my items?
Yes! We let you decide whatever fee you want to charge on your items — meaning that every time an item is sold, you (the developer of the project) will receive a percentage cut of the sale.
Fees can either be levied on the seller or the buyer. To understand the difference, consider a user selling an item for 1 ETH. With a 2% seller fee, the buyer would pay 1 ETH for the item and .02 ETH would go to the developer (you), meaning the seller would receive .98 ETH. With a 2% buyer fee, the buyer would pay 1.02 ETH for the item, .02 ETH would go to the developer (you), and 1 ETH would go to the seller.
Note: Buyer fees are temporarily disabled. Thanks for your patience!
You're free to play around with whatever fees you'd like in the storefront editor. We advise using a seller fee of 2.5% or less.
OpenSea provides its marketplace infrastructure for free—it's entirely free to get started setting up a marketplace and using our platform. As compensation for this service, 2.5% of each sale will go to OpenSea.
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If I understand correctly if you sell an item you can set a fee for the seller. So every time the item is sold you get a %.