Frequently Asked Questions
While you don’t have to pay anything to set up a KnownOrigin account, the seller will need to pay fees when processing an order. On primary sales, the platform takes a 15% commission and on secondary sales, they take a 2.5% fee.
The original creator of the non-fungible token will receive 10% royalties on all secondary sales of their work in perpetuity. This is taken from the total sale amount.
When minting a new NFT for KnownOrigin, creators will need to pay a gas fee in order to add it to the Ethereum blockchain.
As far as transactional gas fees go, buyers will pay the gas fee when purchasing an NFT outright, whereas sellers will pay it when accepting an offer.
Luci is a novelist and active blogger. She loves learning new things and tackling new and interesting industries. Her inquisitive nature makes her the perfect writer and researcher.
While she’s relatively new to the NFT space (as most people are) she’s loved diving in and providing great resources for beginners and intermediate traders.