Fee Allocation

Learn how sales fee allocation works in NFT Collection powered by NiftyKit

Fee allocation lets creators set how the NiftyKit sales fees are charged to their collection. Creators have the option to choose to absorb fees, pass them on to buyers, or split them evenly (50/50).

Our tool is designed to give creators more control over their fees and how they are allocated, which can be particularly helpful when fees are subject to change or fluctuation. By offering flexible fee allocation options, we aim to empower creators to make the best decisions for their NFT collections and maximize their profits.

What is Sales Fee?

These fees are typically paid by the creator or owner of the NFT and are charged from the sale price of the NFT. At NiftyKit, we've developed a tool that helps creators set and allocate their sales fees. This allows creators to customize their fees based on their specific needs and preferences.

Only the owner of the contract can set the allocation of the sales fee.

How it Works

The allocation fee settings can be updated anytime. Upon making changes, the new fee allocation setup will reflect automatically to the collection after confirming the transaction.

Pre-requisite

• Deployed Smart Contract

• Installed Fee Allocation app

Fee Allocation Types

Pass on the fee to the buyer, the buyer would be responsible for paying the fee associated with minting the NFT. The % is based on the creator's current NiftyKit Membership.

Absorb the fee, the creator would be responsible for paying the fee themselves and will be taken from their NFT earnings in their collection

Split 50/50, the creator and the collector will each pay an equal share of the fee