How to set a Commission for your NFT Store?

When you launch your own NFT store on NFTICALLY, you are enabled to charge a certain percentage of transactions occurring through your store as the commission. You can charge a commission for both primary and secondary sales. Let’s learn about Store Fees in Primary and Secondary Sales.

Store Fees in Primary Sales – When you launch an NFT Store, you are not just creating a typical store, where you are selling the NFTs and others are the buyers. Instead, you can make your NFT store, a fully-functioning NFT Marketplace where others can also be allowed to create, mint, and sell their own NFTs.

You may charge any percentage as the store owner and when someone will sell their NFT for the first time in your store, you will receive the mentioned percentage of the Sale amount directly in your wallet. 

Store Fees in Secondary Sales – When someone buys an NFT from your NFT Store and sells it again to others, you can charge a fee for facilitating that transaction on your NFT store, and this fee is known as Store fee in secondary sales. This fee is applicable only on secondary transactions and not on primary ones. 

Following is a step-by-step guide to set a percentage as store fee:

• To set a commission percentage for your store, simply go to the third icon from the top right corner. 

(Step 1)

• When you click on the icon, a drop down menu will appear, select ‘My Store’ to proceed.

(Step 2)

• When you click on ‘My Store’, it will take you to the settings page of your NFT store. Click on the ‘Store Fees’ tab from the options available on the top panel.

(Step 3)

• After you select ‘Store Fees’, the corresponding page will appear which will enable you to set a store fee for both primary and secondary sales that will be charged for the transactions occurring through your NFT Store. 

(Step 4)

You can set a percentage as a commission for your store fee. Go to the tab that says ‘Store Fees’ and fill in the number that you want to set as the commission percentage. You can set a percentage that you may feel apt to charge for the transactions taking place through your NFT store. You can also add the wallet address that would be receiving this store fee. By default, this is set to the store owner’s wallet.

• Once you have set a percentage, click on the ‘Save Changes’ tab, visible on the right side of the screen.

(Step 5)

Following these steps, you can set a commission for your NFT Store as the fee to facilitate NFT transactions. All this is made easy, flexible, and quick with NFTically.

Once you have set a commission for your NFT store, it will be automatically calculated based on the transaction sum and transferred to your added crypto wallet.