Sphere aims to operate as transparently and efficiently as possible. This is ensured through optimized gas contracts, minimal royalties and clear communication about fees.
The following fees are associated with exchanging assets on Sphere;
Fees when buying an NFT
When you buy an NFT on Sphere you pay the following fees
Gas fees: This is the cost of making a transaction on the blockchain of your choice depending on the blockchain the assets are bound to.
Fees when selling an NFT
Trading fee: This is a standard 2.5% of the paid amount charged in the currency used to make the sale.
Royalties: This is a variable percentage that is set by the creator.
Gas fees: When selling an NFT, you need to approve the smart contracts to interact with your assets, the actual transaction is covered by the buyer of the NFT.