GOAT Tribe Marketplace
As a proponent of decentralised initiatives GOAT Tribe supports project marketplaces as a means for purchasing NFTs on the secondary market. To this end, we have taken the decision to launch our own NFT marketplace.
In order to further align this implementation with our values we aim to lower the barrier for entry to NFTs further by allowing sales without the intermediary process of exchanging fiat to ADA, the buyer of an NFT will only need to have an ADA wallet to store their NFT.
Users will be able to convert fiat to ADA and purchase a GOAT Tribe NFT from our marketplace in one smooth transaction.
In order to incentivise the use of decentralised marketplaces the GOAT Tribe marketplace implements a reduced fee structure compared with multi-collection marketplaces.
Currently, GOAT Tribe marketplace fees are set at a total of 7.5% for transactions made in ADA and are broken down as follows:
- 0.5% marketplace provider for updates, implementation, servers, support & security
- 0.5-1% NFT transaction fee
- 5.5-6% creator royalty used for team salaries and marketing and development of GOAT Tribe
No other fee is charged in relation to the buying and selling of NFTs on the GOAT Tribe marketplace.
External marketplace royalties are currently set at 7.5% for transactions made in ADA which is entirely reserved to sustain and develop the project. In addition to this it is likely that marketplaces will impose their own fee in order to cover operation costs and transaction fees. GOAT Tribe has no influence over these and you should check with marketplaces to understand what these are.