Are there any item listing or wallet restrictions that apply in the Marketplace?
Only the Mythical wallet (which utilizes Uphold) is supported at this time.
What types of items are not eligible to be sold in the Marketplace?
Currently, only Mythical approved NFT items are eligible for sale on the Marketplace.
Are there any fees for transactions made on the Marketplace?
We collect a fee from the seller for completed transactions only. It is free to list items for sale. We also collect sales tax and/or VAT where legally required.
Do I have to pay income taxes on any proceeds of sales I earn in the Marketplace?
You may be required to pay income tax if your earnout is greater than the threshold in a year (US tax-payers). Please consult your tax advisor for further information and advice on required taxes and yearly thresholds.
Additionally, you may qualify to receive tax forms at the end of a tax year if you meet certain sales and transactions thresholds for that year. Note that these forms are typically issued by "Electronic Payment Facilitators'', such as Uphold, therefore you will not be receiving any forms directly from Mythical Inc. We strongly encourage you to reach out to your tax advisor if you have any questions on how to calculate and file your taxes or should you need advice on tracking your transactional gains and losses throughout the year so that you have it handy come end of year for your taxes.
Why does Mythical charge fees?
We are building the world's most secure digital asset marketplace and that costs money. The fees we charge go towards developing new software and services that provide you the platform to buy and sell digital assets.
How are fees determined?
We will only charge a fee if you successfully sell an item on our marketplace. Fees can vary based on the asset price, item type, supply and demand.
Will I need to provide any tax information for selling on the Marketplace, and will I be able to download tax records for my transactions?
You will be required to submit account verification documentation upon signing up for Uphold, as well as submit any related tax documentation for payouts.
Please see the Uphold FAQ for more information (section: Here's how to verify your identity - it's easy).
Do I have to pay or collect sales, VAT, or any other taxes for my transactions on the Marketplace?
We will estimate the applicable sales tax or VAT based on the buyer's billing address entered at checkout. The estimated tax amount displayed may be updated when your order is finalized and completed.