Creator Earnings FAQ

Trade holds

Purchasing cryptocurrencies with credit cards or via ACH online banking will trigger a trade hold for the transacting user. This will prevent NFT trade activity (purchases, sales and offers) for a period of 72 hours, for enhanced security.

Kraken recognizes the creator revolution inherent to NFTs - for the first time in history, creators have a framework that ensures that they benefit from each secondary market sale of their work. This is possible because at their core, NFTs are code that lives on the blockchain. Creators interested in secondary sales earnings can opt to include code like EIP-2981 in their own collection. Separately, many NFT marketplaces will reserve a percentage of each sale of the creator’s work that takes place on the platform.

Kraken is fully committed to the emerging on-chain creator economy and keeps track of earnings reserved for creators for each sale occurring on Kraken NFT. Regular monthly payouts to creators are set to be rolled out soon. For any questions, comments or feedback please contact Support.

What are Creator Earnings?

Creator Earnings, which may also appear as Creator Payments in some apps, are a portion of each secondary market sale of an NFT that are reserved for the creator. The portion to be reserved is set by the creator of the collection and generally ranges between 1 and 10%. Creator Earnings ensure creators continue to benefit from their work even after its initial sale and lay the foundation for a healthy and sustainable creator ecosystem.

How are Creator Earnings applied?

The percentage to be charged is indicated to the seller when they list an asset. Creator Earnings applied to historical transactions can be found in the ledger under Creator fees.

Who is eligible to receive Creator Earnings?

The creator of the NFT collection is eligible to receive Creator Earnings. Kraken will only keep track of one creator per collection.

How are Creator Earnings paid?

Creator Earnings are calculated and paid into the Kraken account of the creator every month.

Creator Earnings are paid in the original currency in which they were earned, so creators may receive multiple currencies. Kraken does not convert Creator Earnings currencies. Kraken cannot pay out currencies that are unsupported in the jurisdiction the creator resides in. Kraken is also unable to pay out creators if they reside in an unsupported jurisdiction such as Washington or New York state. Creator Earnings that cannot be paid out are held until circumstances change allowing them to be paid out (e.g. a creator moves to a supported jurisdiction) or otherwise indefinitely.

How can I receive Creator Earnings as the creator of a collection listed on Kraken?

Creators will need to have or create a Kraken account with Intermediate-level verification and submit a request to Kraken Support to receive Creator Earnings. As part of the support process creators will need to confirm the collection they are responsible for and the associated percentage that is charged on each transaction.

Creators are solely responsible for communicating changes to the percentage and any other changes of significance if and when they occur.

Why is KYC required?

In order to remain compliant with the applicable regulations including anti-money laundering rules Kraken requires Intermediate-tier verification. Kraken has strong data protection policies and an excellent reputation for security so you can rest assured your information will be handled with care.

How do I prove ownership over a collection?

By default you will be asked to sign a message with the same account that deployed the contract for the NFT collection. Signing a message with your wallet is easy with a tool such as MyCrypto: https://app.mycrypto.com/sign-message.