Selling a NFT feels like im working with TicketMaster

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Selling a NFT feels like im working with TicketMaster

So okay okay…the title of this post is mostly a joke.

So a couple months ago I minted an NFT for like $150. lets see some of the fees that went into this.
Going to approximate since I dont remember them exactly.

Item sold for about 1ETH today

  1. $30 minting transaction fee
  2. $70 open sea fee to list item for sale at fixed price
  3. $50 open sea fee to later change sale to an auction
  4. $316.5 (10% creator fee)
  5. $158.25 (5% royalty fee)
  6. $94.85 gas transaction fee to complete sale.

Are you kidding me. Like yah overall I made money on this sale but this is insane. Seems the only reason this is considered acceptable is because people are making a ton of speculative trading anyway.

This is not a sustainable model to drive mainstream adoption though.

submitted by /u/versaceblues
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