How does Opensea calculate the creator fee for digital currency transactions?

3 answers

• Kid CadderJan 11, 2024 · 2 years ago
  Opensea calculates the creator fee for digital currency transactions based on a percentage of the total transaction value. The exact percentage may vary depending on the specific transaction and the agreement between Opensea and the creator. This fee is deducted from the total transaction amount before the remaining funds are distributed to the creator and any other parties involved in the transaction. Opensea aims to provide a fair and transparent fee structure that incentivizes creators while also supporting the platform's operations and development.
  558

  279
• Apple IdAug 26, 2021 · 4 years ago
  When it comes to calculating the creator fee for digital currency transactions on Opensea, it's all about percentages. Opensea takes a certain percentage of the total transaction value as the creator fee. This percentage can be negotiated between Opensea and the creator, and it may vary depending on factors such as the type of digital asset being sold and the creator's reputation. By deducting the creator fee from the transaction amount, Opensea ensures that creators are rewarded for their work and contributions to the digital art and collectibles space.
  560

  187
• Malik RashidJul 09, 2021 · 4 years ago
  Opensea, like many other platforms, calculates the creator fee for digital currency transactions based on a percentage. This percentage is agreed upon between Opensea and the creator and is deducted from the total transaction amount. The remaining funds are then distributed to the creator and any other parties involved in the transaction. It's important to note that the creator fee is a way for Opensea to support its operations and continue providing a platform for creators to showcase and sell their digital assets. By taking a percentage-based approach, Opensea ensures that the creator fee is proportional to the transaction value and provides a fair compensation structure for creators.
  695

  174