What are WATT’s fees?
WATT’s model is simple – we receive 2% (*10%) of each transaction that processes on WATT.
That’s it. Users and partners can create NFTs for free at any time.
*For event cooperators, WATT receive 10% of each transaction that processes on WATT.
How do royalties work on WATT?
NFTs created on WATT can be programmed so that each transaction includes royalties, in which allowing creators to be rewarded fairly for their work online.
The fact that NFTs are created and stored on the blockchain, means they can be traded seamlessly from wallet to wallet.
This guide explains how royalties work on WATT and the breakdown of expected royalty payouts in future transactions.
The default royalty rate is set to 10%. This means you can gain revenue for every transaction your NFT is sold on WATT.
Then set the payout address where you wish to receive the royalties. WATT is unable to split your royalties into multiple payout addresses.
Here is the example.
If you set a sale price of 1 ETH and gain a royalty of 10% on the collection, you’ll receive 0.88 ETH from the sale (2% goes to WATT and 10% is in the royalty) and then 2-4 weeks later, you’ll receive the 10% royalty (0.1 ETH).
Receiving your royalty
Royalties are distributed to the payout address directly without effort.
WATT will contact you through Email once the royalties are distributed.
– A user is gifted an NFT. The NFT’s creator is entitled to a royalty of 10%.
– The user later sells the NFT for 1 ETH. A royalty of 0.1 ETH will go to the NFT creator.