Fees associated with usage of Open Marketplace
Traditional marketplaces usually have pretty complicated or extensive fee schedules. Depending on various variables such as what kind of products you sell, the number of transactions you do, your membership subscription plan, your feedback, and similar sets of data, fees can vary greatly.
The total cost associated with selling online usually includes a listing fee, a final value fee (sales fee taken on the value of the item), a subscription fee, a payment processing fee, escrow fee, and more. This is a direct consequence of using third-parties (centralized marketplaces). Every party that contributes to a transaction wants a “piece of the pie” and get paid for the services they offer. This is perfectly normal and expected.
Particl’s Open Marketplace has a different approach.
Because the marketplace is run collectively by its users, there is no operational cost associated with it.
There is also no company looking into making profits out of its operation. This allows the marketplace to charge the bare minimum for it to operate.
The Open Marketplace doesn’t charge its buyers with any fee, except for the usual cryptocurrency transaction fee. Its vendors, on the other hand, are only charged with a very small listing fee amounting to only a few cents per item. This is only designed to fight off spam listings and keep the interface clean.
Particl’s fee schedule is unmatched in the e-commerce industry and beats any centralized marketplaces.
It empowers both vendors and buyers by letting vendors make more profit per sale or by allowing them to reduce their prices to attract more buyers, thus getting bigger sales volume. Vendors make more profits, buyers gain access to cheaper products. This is only possible by using blockchain and P2P technologies.