All actions that are taken on the blockchain come with a cost, known as a "gas fee". For example, when you:
- purchase an NFT and confirm transferring its price to an owner's wallet;
- confirm listing for sale;
- perform some in-game activities with NFTs and other tokens
– you are conducting blockchain transactions.
Miners provide resources for these transactions to be proceeded within the certain network, be it Ethereum, Binance Smart Chain, Polygon, or any other blockchains. Gas fees are literally the miners' earnings, denominated in the currency which is native for a certain blockchain (ETH for Ethereum transactions, BNB for Binance Smart Chain, MATIC for Polygon, etc.)
Gas fees are paid directly to the miners; PROM Marketplace does not profit from the gas fees, does not collect them and has no control over gas fee rates.
The price of gas depends on different factors:
- the blockchain and its current workload (how many transactions are happening at the moment). Ethereum is considered expensive, while Polygon and Binance Smart Chain fees seem insufficient for most users.
- how fast you want your transaction to be executed. If you’re ready to wait, you may pay less.
You have to keep in mind that you'll need enough cryptocurrency in your wallet to cover the associated gas fees to buy and sell NFTs at PROM. Gas fees are paid in cryptocurrency, which is native for a certain chain (for example, MATIC on Polygon, BNB on Binance Smart Chain, etc.). You can always check the list of supported games and associated chains and currencies here.