One of the defining benefits of NFTs is the transparency it allows for in fee distribution, plus the revolutionary guarantee that artists are paid a royalty each time an artwork of theirs finds a new home.
Fun fact! SuperRare introduced the world to automated artist royalties on NFTs in 2018, and as of July 2021, collectors on SuperRare can now earn royalties through their participation in the art market as well. Read a full overview of royalties here.
Artworks on SuperRare can be sold through Auctions, Offers and Buy Now list prices. Each method has its own benefit; you can read an overview here.
Regardless of the sale method, the fee structure remains the same:
Fees on sales
On primary sales (the first time an artwork is sold, also known as a mint sale):
- The Artist receives 85% of the sale amount
- SuperRare DAO Community Treasury receives 15% of the sale amount
On secondary sales (which is any sale following the primary sale):
- The seller receives 90% of the sale amount
- The original artist receives 10% of the sale amount as a royalty
On all sales, there's a 3% marketplace fee added on top of the sale price that's paid for by the buyer – this goes to the SuperRare DAO Community Treasury.
Are the fees to create an artwork?
If you are a whitelisted artist on SuperRare, you will need to pay a gas fee in order to mint an artwork. Gas fees are charges that one pays to Ethereum miners that validate you transaction – in this case, they are essentially a toll fee in committing your artwork to Ethereum blockchain.
Gas fees are determined by the market and can fluctuate at times of high activity on the Ethereum blockchain. A quick google search can help you see the gas fee range on any given day. You can also reference a blockreader website like Etherscan.