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Another note about the examples below: I chose arbitrary numbers for the FIO and domain transfer fees in the examples. The key differences are that option A has a cheaper flat rate for transferring domains than option B. To account for this, 2.5% of all sale prices will go to the FIO BPs in option A. The 2.5% will essentially be paid out like transaction fees, but I have listed it separately for transparency within this document.
Option A:
Flat domain transfer fee (cheaper than the one that currently exists) – for transfers to and from Escrow Account
Seller pays double as a listing fee in order to send the domain to the Escrow Account
If cancellation occurs, transfer of domain back to seller is covered
If the domain sells the marketplace keeps the second half of the listing fee
Buyer pays this on top of the sale price so that they can receive the domain from the Escrow Account
Flat FIO transfer Fee
The buyer pays this on top of the sale price so that seller can receive payment for the domain
Or have this fee deducted from what the seller receives
2.5% Marketplace Commission on sale price
Deducted from the amount that seller gets for domain
2.5% FIO BP Commission on sale price
Deducted from the amount that seller gets for domain
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If the domain sells:
Samantha pays 20 + 20 = 40 FIO
Samuel pays 1000 + 20 + 5 = 1025 FIO
The marketplace gets 1000*2.5% + 20 = 45 FIO
The FIO Block Producers get 20 + 1000*2.5% + 20 = 65 FIO
Samantha gets 1000 – 25 – 25 = 950 FIO
Samuel gets ownership of the “sam” domain
If the listing is canceled:
Samantha pays 20 + 20 = 40 FIO
The FIO Block Producers get 20 + 20 = 40 FIO
Samantha gets ownership of the “sam” domain
Option B:
Flat domain transfer fee (that already exists) – for transfers to and from Escrow Account
Seller pays double as a listing fee in order to send the domain to the Escrow Account
If cancellation occurs, transfer of domain back to seller is covered
If the domain sells the marketplace keeps the second half of the listing fee
Buyer pays this on top of the sale price so that they can receive the domain from the Escrow Account
Flat FIO transfer fee
The buyer pays this on top of the sale price so that seller can receive payment for the domain
Or have this fee deducted from what the seller receives
2.5% Marketplace Commission on sale price
o Deducted from the amount that seller gets for domain
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If the domain sells:
Samantha pays 50 + 50 = 100 FIO
Samuel pays 1000 + 50 + 5 = 1055 FIO
The marketplace gets 1000*2.5% + 50 = 75 FIO
The FIO Block Producers get 50 + 50 = 100 FIO
Samantha gets 1000 – 25 = 975 FIO
Samuel gets ownership of the “sam” domain
If the listing is canceled:
Samantha pays 50 + 50 = 100 FIO
The FIO Block Producers get 50 + 50 = 100 FIO
Samantha gets ownership of the “sam” domain
Examples from other NFT marketplaces:
The last part of this document contains some examples of fees that other NFT marketplaces use. The next two screenshots are examples of what a buyer and seller will see on Collectables.io, a marketplace for WAX NFTs.
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