monetization & Trade Policy

Updated: Jun 15

As an artist, you can monetize your artworks on The Morpheus Project marketplace. Collectors can trade Holo-NFTs on the marketplace. There are two types of Holo-NFT:

  • Fresh Holo-NFT: Fresh Holo-NFT is a new token that is created for the first time, which will be registered onto a blockchain once it is purchased. The first purchaser will be dubbed as the first owner of the token, who will need to pay the gas fee to create the token on the blockchain. Note that the gas fee to create a new token is slightly higher than to edit an already minted Holo-NFT.

  • Minted Holo-NFT: Minted Holo-NFT is a token that is already registered on the blockchain. Therefore, when a Minted Holo-NFT is being traded, only the details of the token is edited. The gas fee to edit the details will be less than when making a Fresh Holo-NFT

On The Morpheus Project marketplace, there are different types of fee, which are:

  • First sale fee: This is a commission fee on the first trading transaction of a Holo-NFT (applied to both minted or fresh Holo-NFT) that occurs for the first time in The Morpheus Project marketplace. The company reserves the right to collect the commission fee of the first sale. The first sale commission fee is agreed between The Morpheus Project and a creator before a Holo-NFT is traded.

  • Secondary sale fee: The secondary sale refers to any subsequent transaction on a Holo-NFT aside from the first sale. The Morpheus Project marketplace will collect a commission fee from the secondary sale, which is 2.5% of a sale price (unless agree otherwise). Note that the original creator can assign a royalty fee for a Holo-NFT.

  • Royalty fee: This fee is only applied to subsequent transactions. It is the fee which will be paid to original creators for the lifetime of NFTs. The original creator can assign a royalty fee up to 30% of a sale price by themselves in The Morpheus Project marketplace. However, we recommend you to set approximately 2.5% royalty fee.

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