Metaventure sub-merchants are an important part of the economy. Not every player has the desire to open their own metaventure, but they still desire to sell their assets. Being a sub-merchant allows players to list their assets in a metaventure for a commission fee. The metaventure owner has operating costs and has business risks. As a service he can provide others the opportunity to have their asset listed in their store. Each metaventure owner can set the commission for his store (2-10%) and the minimum time an asset is to be listed before either the asset owner or metaventure owner can remove the asset from inventory.
Before getting into the detailed process on everything you as a potential sub-merchant need to know about having your asset listed in a metaventure, lets break down the costs. Lets assume that the Metaventure owner sets his commission rate at 2%, and the sub-merchant wants to list an asset at a sales price for 100,000 UPX.
- The buyer of the asset will pay 105,000 UPX. Just like on properties, and all assets sold on the secondary market, the buyer pays an additional 5% which is contributed to the community pool
- The seller (sub-merchant) will receive 98,000 UPX, which is the sales amount minus the commission rate. This amount is calculated and presented to you when you set your listing price.
- The metaventure owner will receive 2,000 UPX, which is the commission rate. The owner is subject to metaventure dues paid monthly. It is a factor of the revenues generated by all metaventure owners of that same type within the same city. Therefore a portion of this 2,000 UPX revenue is taxed and placed into the community pool.
If an asset is listed for USD, the transaction will occur in USD. For the metaventure owner, the revenue generated is translated into UPX (1 USD = 1000 UPX) and that UPX revenue is factored into the metaventure dues.
In order to sell an asset and earn either UPX or USD.
A means to contact the Metaventure owner. Many can be found on Discord, or other social media channels. You can also find some listed in our directory.
- You as the player looking to sell your asset.
- The owner of the metaventure
- Tilia - You must have verified your identity in order to list an asset in a metaventure. If you selling an asset for USD, Tilia is used in order for you to receive your profit.
- Know the specific asset, and its type that you are looking to sell (Block Explorer, Legit, etc.)
- Know what metaventure you wish to list your asset in - the city it is located in, and its address. Only assets of a specific type can be listed in its relevant store. For example, Legits in Fan Shops, and Block Explorers in Block Explorer shops.
- Know the amount of commission (2-10%) that metaventure owner takes per listing
- Know the minimum listing time for the metaventure. This parameter is defined by the metaventure owner. Once an asset is listed in the store, neither the seller nor the metaventure owner can de-list the asset for the defined time (1 -7 days).
- Know the price, and currency (UPX or USD) you wish to have your asset sold at.
- A listed asset in the metaventure
- In the event that your listing is rejected by the metaventure owner, you will receive your asset back
- In the event your asset is sold, you will receive the listing price minus the metaventure commission
- Travel to the specific metaventure you wish to have your asset listed in. Use the Upland Guide Discord Travel Bot to help you find both the cheapest and fastest routes between any two Upland cities.
- Click the List my asset button underneath "shop now"
- Select your asset you wish to list in the store.
- The metaventure owner will receive a message where he can accept or reject your listing.
- If accepted, the asset will be listed in the metaventure for the minimum defined period before either yourself or the owner can remove it from the store.
- If someone purchases your asset, you will automatically be paid.
- After the minimum listing time, the seller or the metaventure owner are free to remove the asset from the store. The asset owner is free to remove the item from the store from anywhere in the Metaverse, there is no need to travel to the metaventure itself.