Frequently Asked Questions
What is StellarNFT?
StellarNFT is digital marketplace for non-fungible tokens (NFTs) on Stellar blockchain.
What is NFT (Non-fungible token)?
Non-fungible tokens (NFTs) are cryptographically-generated tokens that represent something unique.
Why Stellar Blockchain?
Thanks to the unique consensus protocol, Stellar blockchain is one of the fastest and has practically no fees, which makes Stellar blockchain perfect for NFTs.
Is StellarNFT decentralized?
Yes, we utilize Stellar blockchain atomicity (if one operation fails, all operation in the transaction fails) to handle offers, so you are the only one in control of your NFTs and founds.
Is StellarNFT free?
We require an activation fee (1 XLM) for every new item, but you can get it back if you decide to delete the item. We don't charge buying fees/selling fees.
What is verification?
Verified badges are granted to creators that show enough proof of authenticity and active dedication to the marketplace. NFTs created by verified creators automatically become verified, that doesn't mean that the items are 100% authentic.
How does the royalty system work?
As the original creator of an NFT, you can set a certain percentage as royalty for secondary sales. Example: You create an NFT with a royalty of 10% then sell it. Your buyer then sells your NFT for 1000 XLM and you receive 100 XLM (10% the total sale price) as a claimable balance. You will have 30 days after the sale to claim your revenue. If you fail to claim your revenue then the seller (your buyer in the example) can claim it.
Attention! To receive royalty revenue the selling price of an item must be at least 10 * 0.5 base reserve = 5 XLM.