General FAQs

Frequently Asked Questions

Written by Support
Updated over a week ago

What is Mint Gold Dust?

Mint Gold Dust is more than a platform; it’s a digital ecosystem interconnecting creators and providing provenance through smart contracts & NFTs for future space travel. Okay, maybe we’re a bit early for space travel.

We are the digital curators of fine art, the connectors of collectors, and your personal spirit guide to discovering what your gold dust is. Join us on a journey to discover the true extent of the value of NFTs in fine art and beyond, becoming prospectors of digital gold as we follow the trail of dust into the fairy garden.

What is an NFT and how is it valuable?

An NFT is a one-of-a-kind digital asset, and on the Mint Gold Dust marketplace, it exists mostly in the form of digital artwork. NFT's allow digital items to be unique in the same way that 1-1 physical work of art would be. Every artwork on Mint Gold Dust is a crypto asset written to the blockchain so the history of ownership is clear as day for anybody to see and prove that they own a particular asset, maintaining the item’s integrity. NFTs can also have different provably scarce aspects to them, mostly in the case of a series of collectibles (e.g. CryptoPunks or Bored Ape Yacht Club).

How do I get started collecting?

Sign up here to create an account and connect it with an Ethereum wallet (MetaMask or Portis). Once you have an account, explore our marketplace and find your next favorite artist.

Do I need cryptocurrency to buy items on Mint Gold Dust?

No, while most transactions are done using Ether (ETH), Ethereum’s native cryptocurrency, Mint Gold Dust has enabled customers to purchase NFTs using their credit cards via Portis wallet if they’re not familiar with crypto.

How do I become an artist?

Currently, anyone wanting to become an artist should email [email protected] to connect with our Curator and receive an application. The application should be sent back to our Curator who will respond within a few days with further instructions.

Are there marketplace fees?

There is a 15% platform fee paid by the seller on the primary market and 5% on the secondary.

Are there artist royalties?

For primary sales, artists receive 85% after the 15% platform fee. For secondary sales, artists can receive up to a 20% in royalties, customizable at the time of minting and providing future passive income from an artwork when it continues to trade on the secondary market.

What's the technology behind Mint Gold Dust?

Mint Gold Dust is a peer-to-peer marketplace for non-fungible tokens (ERC-1155 NFTs) built on the Ethereum mainnet.

I thought most marketplaces use ERC-721, why are you using 1155?

ERC-1155 is a more updated version of ERC-721 and was built to reduce transaction costs and contract deployments. New functionality is possible with the design of 1155, such as transferring multiple token types at once, saving on transaction costs. It reduces the cost of deploying artworks with many editions by nearly 90%. Trading (escrow / atomic swaps) of multiple tokens can be built on top of this standard and it removes the need to “approve” individual token contracts separately. It is also easy to describe and mix multiple fungible or non-fungible token types in a single contract.

How much does gas cost?

The Gas Price is dynamic and depends on Ethereum network activity. This means the current gas fee is constantly updating. To estimate today's gas price, check out the following tools:

What are the marketplace fees?

Mint Gold Dust charges a 15% platform fee on the primary market and a 5% platform fee on secondary market sales.

What is Primary and Secondary market?

The amount of Fees for the sale of a Mint Gold Dust Item depends on whether the transaction involving an item is considered primary (“Primary Sale”) or a subsequent sale in the secondary market (“Secondary Market Sale”). This distinction is determined by total issuances of an Item sold. All Items on the Platform must reach a sales threshold equivalent to the number of issuances (each is a Primary Sale) in order for subsequent sales to be considered a Secondary Market Sale. By way of example, an Item that has been minted on Mint Gold Dust with an issuance of 10 must be sold 10

times (where each such sale is considered a Primary Sale) before any subsequent sale

is considered Secondary Market Sale. This process is an attempt to compensate for the fact that 1155 tokens cannot be tracked individually.

When Live Auction?

Soon! It’s in the next stage of our roadmap so get pumped.

I can't find the mint button.

The mint button will only appear if the user is an artist. Mint Gold Dust is a curated NFT platform, you must first have your profile approved by our curator before being able to mint. If interested in applying, please email [email protected]

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