Articles on: Market

What are the Royalties in the marketplace?

NFT royalties or royalty fees give you a percentage of the sale price each time your NFT creation is sold on our Venly Market.
Royalties are fees that the NFT smart contract owner receives for every secondary sale that is made from one party to another for the ongoing use of their assets, no matter how many secondary sales occur, the royalties will always be paid back to the original contract owner.

Despite what’s being generally assumed, royalties are not automatically distributed at a smart contract level.
How royalties are collected and distributed, depends on the market in which the sales transactions take place.

For the Venly Market we only take a transaction fee of 2%. Get up to 10% in royalty fees, as the contract holder, depending on your preferences.

In order to submit a royalty claim as contract holder, please visit this page and submit this form.

Updated on: 04/08/2022

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