Hive Punks market fee reduced to 5%

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After some consideration, we have reduced market fees from 10% to 5%.

10% has been what we have seen other similar projects use and didn't put a whole lot of thought into it, just went with what we felt was typical.

A handful of users have expressed concerns about the market fee, and suggested we change it to 5%. Out of the thousand or so users, only about 5 have expressed any concerns over the market fee, but it was never our intention to make it "high", just to go with the "norm".

As such, I have reduced them the market fee to 5%. Hopefully this leaves users feel this is a more fair market fee for using the Hive Punks market place safe and securely.

This change is effective already but you will need to remove your Punks from the market to take advantage of this new fee.

There are still a lot of changes coming to Hive Punks in the near future.

Posted Using LeoFinance Beta



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41 comments
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I completely support this and was going to propose it. I think it will lead to an increase in volume so might even be better from a revenue standpoint.

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I wish I would've known about this earlier. I wanted a Hive Punk.

!PIZZA

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(Edited)

great move, I didnt express my concerns but I thought devs are greedy 🙃😎
could we have sales tracker please? It would gretly help to see where the market is going
😍

edit:
I see it is already there.
AWESOME!!!

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Out of the thousand or so users, only about 5 have expressed any concerns over the market fee

Many have not even thought about selling their punks.

However, thank you for this change, I really appreciate it. It seems fair.

Posted Using LeoFinance Beta

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yay! this is a happy making news bulletin for the hivepunkers :)

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Just seen these trend, what is this about?

Are these blockchain generated, randomised creations? Or are these just user made items? And what do you use these for?

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They are AI generated and minted as NFTs on Hive Engine.
You can use them however you like.

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Cheers, so they are either a trading card or a game asset.

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Really good move!
Folks on hive really not like to pay high fees, because hive transfers cost only RC.
I hope that this change will attract more people to hive punks!

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That's great step. Is there a possibility of having two additional features with fees by keeping it at 10% or may be 8% or whatever suits better?

1- X % will be market fee for providing services.
2- Y % will be shared by current holders of punks equally.
3- Z % will be given to original minter of punk.

Total Market fee = (X+Y+Z) %

For example if you keep total fee as 5%, X = 2.5, Y = 1.5 & Z = 1. This way everyone involved in project is incentivized.

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Thought about a program where a portion of fees would go to holders, but in the US it is likely illegal.

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Hmm, but if something is decentralized enough it won't matter.

Thanks.

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Grate change, hive community > rest crypto😎

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I just logged on to change my sell order and one of my Punks sold for 39 :-) No worries!

Anyway I'm happy to have made one sale!

f62cc1a351a35e0f0e067b3889ce6f6bd6041390

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Nice to see this Discount and it should animate the markets a bit. Punks are crazy on Hive and some already broke records in sale. I wonder what else do you have for us on your plate?!?!...

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That is really awesome that you guys decided to lower the price especially since the complaint rate was only about .001% (not 100% about the math)
Seriously that is why I love the Hive Blockchain so much the people here as a group seem less greedy than the rest of the web2.0 world. :-)

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Wicked I have my punk he is not that rare or cool but happy to have at least minted one.

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So good to see this. Even Phunks floor on ETH is trading at over 1 ETH now. LFG. These things are going to fly.

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Thats a great improvement! Thanks so much for this! I have been trying to sell one or too punks (actually @solymi did), and I calculated that 10% in, so now I can relist for a little better price.
We might see increased market movements as well :) Wonder when the first million gets spent on a hive punk ;)

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Boom! you have been manually curated by failingforward for your great content

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I am here for the first time. You have an awesome project.

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