Platform fee is the sum of the transaction cost incurred by Stripe and Xooa for processing each transaction and the margin set by the marketplace owner. The minimum fee allowed is 5.4% to cover the Stripe and Xooa transaction costs. Sellers are charged the platform fee when they sell their NFTs.
The platform fee can be configured in the design console under the Payment and Fees section.
The platform fee can be set for both:
- The Initial Sale percentage refers to the first sale of an NFT
- The Secondary Sale percentage refers to the subsequent sale of the NFT
Initial Sale is applicable to the user minted NFT Marketplace only.