NFTs can be programmed so that each transaction includes royalties, 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, with royalties paid every time they move.
This guide explains how to set royalties up to 10% in the OpenSea collection editor, and breaks down when you can expect royalty payouts on future transactions.
Setting your royalties
To set your royalties, simply go to your collection editor and adjust the percentage fee field. You can set a fee of up to 10%.
Then specify the payout address where you wish to receive the fees. OpenSea is unable to split royalties to multiple addresses.
Please note that royalties also apply to primary sales (sales by you).
For example, if you set a sale price of 1 ETH and have a royalty of 5% on the collection, you’ll receive 0.925 ETH from the sale (2.5% goes to OpenSea and 5% is in the royalty) and then 2-4 weeks later, you’ll receive the 5% royalty (0.05 ETH).
Receiving your royalty
Royalties are distributed every month to the payment address specified in the collection editor.
To view your royalty payouts, go to the collection editor and click the royalties button on the top right.
Pending and completed payouts to you will appear here. Payouts occur in bulk every month.
On any given payout round, you’ll only receive a payout if you’ve accumulated more than ~$60.00 worth of fees.
* Private sales (fee-free transfers or gifts to other users) do not incur royalties. A private sale will not invalidate royalties from future sales.
For example:
– A user is gifted an NFT. The NFT’s collection has a royalty of 10%.
– The user later sells the NFT for 1 ETH. A royalty of 0.1 ETH will go to the collection creator.
