According to CoinDesk, Zora, a popular non-fungible token (NFT) minting platform, has announced a revamped revenue split model to provide creators with more income. Previously charging collectors a flat minting fee of 0.000777 ETH (~$1.40) per NFT, Zora will now automatically split funds earned from mint fees with creators, enabling them to receive a larger share of the revenue.
Under the updated model, creators will receive a minimum of 42.9% of the mint fees from free mints, while retaining 100% of the revenue generated from paid mints. In addition, developers building on Zora's protocol will be rewarded for their contribution to NFT drops. The platform no longer charges a creation fee or a listing fee.
Dee Goens, co-founder and COO of Zora, emphasized the need for the platform to support creators in making money from NFTs and in the Web3 space, with the ultimate goal of expanding its market. Notable creators Bobby Kim and Latashá are set to release free mints on Zora this week in recognition of the platform's fee updates.
