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Costs

An overview of costs that occur when using the platform

Do I have to pay to sign in to the FANtium platform?

No - signing into the FANtium platform is free.

Does FANtium charge any transaction costs when I purchase a token?

No - FANtium does not charge any transaction costs for the purchase of a token

Does FANtium charge any fee for claiming tournament earnings?

Yes - FANtium will charge you a fee when you claim the tournament earnings from an athlete. The fee amounts to 2.5% of the prize money that you want to claim

Do I incur any other costs when making a purchase?

Yes - when you make a purchase you will have to pay "Network fees". Network fees occur every time you send cryptocurrency from one address to another. They are transaction fees that are paid to cryptocurrency miners - incentivizing them to add transactions to the public ledger, keeping the network secure. The fees paid depend on the network used. We have deliberately chosen Polygon as the network infrastructure provider, as with this network the fees for using the infrastructure are in the cents range. Network fees are paid in the native currency of the Polygon network (MATIC).

Do I face any costs when selling a token?

Yes - athletes can set creator fees. This means that whenever you sell your token you might be charged for it. The exact amount of the creator fee is set by the athlete and can therefore differ. However, we expect something around 5% per trade. Additionally, the marketplace you are using to trade the token might charge you a fee. This depends, however, on the marketplace that you are using.

Do I incur any costs for purchasing a token with credit card?

Yes - you will be charged 4.9% of the token price, plus $0.30 and the network fee (in the range of $0.01-$0.10). This fee covers the payment processing costs and goes entirely to our third party payment provider.