When trading an NFT on Spaace, you will pay two types of fees:
Trading fees
Gas fees
Let's dive into each!
Trading fees
Spaace charges a 0.75% trading fee on sales.
The fee is directly deducted from the earnings when the sale is processed.
You can preview the trading fees you will pay as a seller when listing an item or accepting an offer.
Spaace does not charge the buyer; only the seller pays the trading fees.
Gas fees
What are gas fees?
Gas fees are transaction fees paid to blockchain validators every time a transaction is performed. Spaace does not receive gas fees, and does not generate revenue from gas fees. Spaace is not able to refund gas fees to traders.
Gas fees can increase or decrease depending on the traffic on the Ethereum blockchain (ie, the amount of transactions performed at the same time on the blockchain).
Keep in mind Spaace doesn't control gas prices.
When do I need to pay gas fees?
You will be prompted to pay gas fees every time you trade on the marketplace. However, there are two separate times when you will be required to pay gas fees:
One-time gas fees: these occur when needed to approve a collection. Approving a collection is only required the first time you trade, list or make an offer on a specific collection.
Recurring gas fees: once approved, trading on a collection will incur gas fees for every transaction such as buying, transferring, editing a listing or accepting an offer.
In order to pay for gas fees, your wallet must hold ETH. If you do not have enough ETH to pay for gas fees, then you must deposit more ETH onto your wallet.
What actions are gas-free?
On Spaace, certain actions don't require to pay gas fees:
Connecting your wallet
Listing an item (after approving the collection)
Making an offer (after approving the collection)
Canceling an offer (after approving the collection)