If this is your first sale of works on Element, you need to pay 2 Gas fees to initialize your account and authorize Element to trade. These fees only need to be paid once, and there is no need to pay again for subsequent transactions.
Before the work is sold, the seller does not need to pay Gas fees to "mint" the work, which is called inert casting. NFT will be cast
Seller is does not need to pay gas fee to mint the works, which is called the”lazy minting”. NFT work will be minted on the chain only when it is purchased or when a bid is received.
Whoever triggers the transaction will pay the Gas fee:
A gas fee needs to be paid when selling a work. However, depending on the transaction method, the party who pays the gas fee will be different:
- The buyer pays the Gas fee under the buy-it-now transaction mode;
- When the buyer bids and the seller accepts the bid, the seller pays the Gas fee;
In addition, Element will automatically complete auctions of more than 1 ETH and pay related gas costs. For auctions below 1 ETH, the seller accepts the highest bid and pays the Gas fee to complete the transaction.