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IMX Updates
2/23/2022

Product Update: Ecosystem Fees Live

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TL;DR

Marketplaces building on Immutable X will now be able to add custom fees to their orders. This will encourage world-class NFT marketplace experiences to be built on Immutable X. From awesome aggregating marketplaces to dedicated content-specific marketplaces, to awesome in-game trading experiences, we want to incentivize the best builders to build the best ways to trade NFTs on our platform.

You can read the documentation here to learn more.

As each marketplace can apply custom fees, prices for the same listing could differ across the protocol. An asset could be listed for 1 ETH on Marketplace A but listed on Marketplace B for 1.01 ETH, as they charge different fees. We believe marketplaces should compete not just on pricing, but by offering better discovery and trading user experiences.

We are still in the process of implementing fees on the default Immutable X Marketplace, but currently intend to charge 1% maker and 1% taker fees (in addition to the protocol fee when it is released). We may change these over time, but our intention is not to compete with other marketplaces on the protocol on price — our goal is to create liquidity, not to monetize it aggressively.

If you’ve read this far — here is a sneak peek drop.

We’ve now rolled out two of the three pillars of fees on Immutable X (royalties and marketplace fees). The team is now busy implementing the protocol fee, which will be launched soon. The protocol fee is a critical feature that will unblock the release of staking, which will greatly benefit all Immutable X supporters and IMX token holders.

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Disclaimer and risk statement:

This ‘How to’ guide is provided for information purposes only and does not constitute investment advice or a recommendation.  While Immutable has taken all reasonable care in preparing this guide, it is provided on an “As is” basis without any representations or warranty, to the maximum extent permitted by applicable law. In no event shall Immutable or any of its affiliates or any of its directors, officers, agents or employees be liable for any loss or damages in connection with the use of this guide. Some of the solutions referred to in this guide are provided by third parties; Immutable takes no responsibility for third party technology and you should refer to the policies, terms and conditions of those third party services before engaging with them.  Dealing in crypto assets can be complex; you should be aware of the risks involved with dealing with crypto assets, including with respect to transferring and bridging assets across different blockchain environments.

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