How are earnings split?
NFTs are giving a possibility to creators to decide about receiving fees from every future sale. During minting flow just provide who should get the split and pick the type (fixed or percentage).
Our smart contracts from now on will automatically take care of splitting the payment fairly.
That is a perfect solution for co-created NFTs, because you may provide ongoing funding to all involved creators..
How does split work at the OpenSea or other marketplaces?
The collection owner may specify royalty fees in the collection settings. OpenSea allows up to 10% royalty fees. Besides that, you may configure just one wallet address as a splits receiver.
To overcome this limitation we can deploy for you our payment splitter smart contract. That way we can provide to OpenSea with one address that splits royalties, so they can be withdrawn by multiple collaborators.
Example: OpenSea royalty fee is 10%. Joe should get 20% and Alice 80%. NFT is sold for $120. Then Alice would get $9.60 and Joe $2.40