Frequently Asked Questions

1.What networks does Goldust currently support?

As the first NFT marketplace on Endless, Goldust will initially focus on the Endless blockchain network, providing comprehensive functionality support for its NFT ecosystem. In the future, we will gradually integrate other networks to achieve seamless multi-network collaboration and build a one-stop NFT platform.

2.How to Buy and Sell on Goldust

  • Buying

    • Direct Purchase:You can purchase any NFT listed for sale at the stated price and instantly acquire the NFT.

    • Offer to Buy:If the listed price of an NFT you desire does not meet your expectations or if the NFT is not currently for sale, you can place an offer on it. If the owner accepts your offer within a specified timeframe (1 day, 3 days, or a custom duration), you will acquire the NFT. Additionally, you can place a bulk offer on an entire collection, and as long as someone accepts your offer, you will automatically receive multiple NFTs.

  • Selling
    • Listing for Sale: You can list your NFT for sale by setting an asking price and an expiration time. If a buyer purchases your NFT before the expiration time, you will receive the sale proceeds. If no one buys the NFT before the expiration time, the listing will be canceled.

3.What Fees Are Involved in Creating and Trading on Goldust?

When creating, selling, or purchasing NFTs on Goldust, certain fees may apply. These fees vary depending on the type of transaction and may include royalties, platform service fees, and gas fees.

  • Royalties: Set by the creator, royalties are fees paid to the creator upon the sale or purchase of an NFT.

  • Platform Service Fee: Goldust is committed to supporting the Endless NFT ecosystem and currently does not charge any service fees.

  • Gas Fees: Gas fees are required for blockchain transactions and must be paid when creating, buying, or selling NFTs. These fees are not collected by the platform.

4.What are Royalties?

NFT royalties refer to the fixed percentage of income that the original creator or author can earn from each resale of the NFT on the secondary market. This is designed to reward creators and ensure they continue to benefit from the subsequent trading of their works.

  • How It Works:

    • When you create and sell an NFT, you can set a royalty percentage (the royalty rate can be determined by the creator based on the market).

    • Each time the NFT is resold, the platform automatically deducts the specified royalty percentage from the price paid by the buyer and transfers this amount to the original creator of the NFT.

    • Royalties are typically calculated based on the resale price, not the original sale price.

  • Benefits of Royalties:

    • Ongoing Income: Even if the NFT is resold multiple times, the original creator can still earn a share of each transaction.

    • Incentivizes Creators: Royalties allow creators to continue benefiting from the economic value of their work as it circulates in the market.

    • Protects Creator’s Rights: With royalties, creators are more likely to receive their fair share of the returns from the market transactions involving their creations.

  • Example:

    • Suppose you create and sell an NFT, setting a 10% royalty. A buyer purchases your NFT for $100.

    • Later, the NFT is resold to another buyer for $200.

    • In this resale, a 10% royalty means you will receive 10% of the $200, which equals $20 as royalty income.