Exchange Art pricing and fees disclosures

Q: How to burn an NFT?

How to burn an NFT? To burn an NFT you must be logged in as creator. This will only work if you are the creator and owner of the NFT. It must be in your wallet and not listed for sale or auction. <ul> <li>Delist the NFT (if it's not in your Wallet yet).</li> <li>Click on your avatar, then on "Profile", and select the series for the NFT you intend to burn. Once into the series, if you see a button "View as owner", click it and it will change to "Edit series".</li> <li>Click on the 3 dots (…) in the upper left corner of the NFT to open up it´s menu.</li> <li>Select "Burn NFT"!</li> </ul> <img src="https://storage.crisp.chat/users/helpdesk/website/8889522849701800/image_112toy7.png" alt="burn NFT" />

Solana Fees

| Type of Fee | Description | Amount | Who Pays? | |---|---|---|---| | Primary Sales Fee | Fee for the initial sale of an artwork | 5% of transaction value | Buyer | | Secondary Sales Fee | Fee for the resale of an artwork | 2.5% of transaction value | Buyer | | Convenience Fee for 1/1 pieces and ArtDrops | Fee for minting new artworks | 0.011 SOL | Seller | | Convenience Fee for Editions on Demand | Fee for minting new artworks | 0.011 SOL | Buyer | | Listing Fee | Fee for listing artworks on the platform | None | N/A |

Ethereum Fees

| Type of Fee | Description | Amount | Who Pays? | |---|---|---|---| | Primary Sales Fee | Fee for the initial sale of an artwork | 5% of transaction value | Buyer | | Secondary Sales Fee | Fee for the resale of an artwork | 2.5% of transaction value | Buyer | | Convenience Fee for 1/1 pieces | Fee for minting new artworks | 541 gwei | Seller | | Listing Fee | Fee for listing artworks on the platform | None | N/A |

Do Sales Incur Any Fees? 💰

Starting from the 4th of July, 2023, we're introducing a slight change in our fee structure. Don't worry! We've designed it to be as fair and transparent as possible. Now, the buyer will cover transaction fees instead of the seller.

For primary sales on Solana and Ethereum - the initial sale of an artwork - there's a small fee of 5% applied to the transaction value paid by the buyer. Likewise, for **secondary

Question 2

How to burn an NFT?

Accepted Answer

How to burn an NFT? To burn an NFT you must be logged in as creator. This will only work if you are the creator and owner of the NFT. It must be in your wallet and not listed for sale or auction.

Delist the NFT (if it's not in your Wallet yet).
Click on your avatar, then on "Profile", and select the series for the NFT you intend to burn. Once into the series, if you see a button "View as owner", click it and it will change to "Edit series".
Click on the 3 dots (…) in the upper left corner of the NFT to open up it´s menu.
Select "Burn NFT"!

burn NFT

Question 3

A Beginner's Guide to Selling Digital Art on Exchange Art: Tools

Accepted Answer

1. Choose the right tools for the right job.

When you're first starting out, it's recommended to start with Buy Now and Offers. These are the most straightforward ways to sell your art, and they don't require any bidding or auctioning. Once you have a few sales under your belt, you can start to experiment with Auctions and Editions.

Buy Now is a great option if you're confident in your pricing and you want to sell your art quickly. Offers are a good option if you're not sure what price collectors are willing to pay, or if you want to give buyers a chance to negotiate the price.

Auctions can be a great way to sell your art for a high price, but they can also be risky if you don't have a lot of collectors following you.

Editions are a good way to reach a wider audience and sell your art at a lower price point, once you become more known in the space.

2. Market your art and get involved in the community.

Once you've chosen the right tools, it's time to start marketing your art. Share your work on social media, and find others in the community to reach a wider audience. Making good promotional material is a great way to get your art noticed. Get involved in the Exchange Art community by following other artists, commenting on their work, and participating in discussions on social media!

3. Get people to follow you on Exchange Art.

When people follow you on Exchange Art, they'll be notified when you drop new pieces or schedule auctions.

Question 4

How do I Sign Up as an Artist?

Accepted Answer

To create an artist profile on Exchange Art, please follow these steps:

Click the "Sign In" button in the top right corner. In the menu, select the type of wallet you want to connect.

|| Wait for the popup message from your wallet and approve the connection.

Once your wallet is connected, follow the on-screen instructions to complete your artist profile.

| Add your email, create a username and a custom URL (slug), add a profile picture and banner, complete your bio, connect your social networks, and add other URLs of interest. | The option to edit this information will always be available by clicking on your avatar and then Profile Settings.

Once your artist profile is created, you can click on the "Create" button to start minting and selling your art on Exchange Art.

**Congratulations, you have successfully created an Artist profile on Exchange! **

Question 5

What files can I mint ?

Accepted Answer

What files can I mint? 🎨

Welcome to the wonderful world of creating your own NFTs on Exchange Art! We believe every artist deserves to have their work shine in its best form. That's why our minter tool is designed to support a variety of file formats.

Whether you're looking to mint a beautiful image, a captivating animation, or a stunning 3D model, we've got you covered. Currently, we accept the following file formats:

PNG 🖼️
JPG 📸
JPEG 🎞️
GIF 🌈
MP4 📽️
MOV 🎬
GLB 🏞️

These file formats cover the most common digital art types, ensuring you can easily transform your creative vision into a unique NFT. Now go forth and let your creativity fly! ✨

Question 6

Tips on How to become a successful artist on Exchange Art

Accepted Answer

• Grow your community and follow more people. • If you want people to follow and interact it is important to do the same • use keywords, hashtags, tags, and links in your bio and content - connect with other creators • collaborative collections • Aim for growing your follow/ers to a fixed additional number per week (slow, avoid bans) • contact prominent members of the Solana community • spend time thinking and scheduling Twitter posts • set the price of each NFT with a long-term strategy • Assemble releases according to a schedule and stick to it - define a limited number of works for a collection We encourage you to continue to grow in the community and seek to connect with other creators and collectors, using tags and hashtags from Exchange. Greetings and best of luck!

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