Collect fees are too high!

You might not realize, but there are significant fees associated with Lens Collects. Depending on the apps you use, there may be up to 15% in fees for each Collect! Let’s break down where the fees are coming from, and how you can avoid most of them.

🌿 Lens Protocol automatically attaches a 5% fee to all Collects. This is deducted from the sale price and the tokens are held by the protocol treasury, where they will eventually be split amongst the apps used to publish and collect. You cannot avoid this fee.

⭕️ Orb adds an additional 5% on the buyer side. When someone Collects on Orb, they charge the buyer 5% on top of the sale price.

🌸 Hey adds an additional 5% revenue split. When you create a collectible post on Hey, you automatically split 5% of your revenue directly with Hey. This is deducted from the sale price on top of the protocol fee.

So if you create a collectible post on Hey, and someone Collects it on Orb, there was effectively ~15% in fees paid out. Frankly, this is ridiculous. 15% is almost an order of magnitude higher than the fees you pay elsewhere in Web3 (OpenSea: 2%, Magic Eden: 2%, Blur: 0%). Reminder that the 5% protocol fee will eventually be split with the apps, so any charges on top of it are essentially double-dipping.

How do you avoid these crazy fees? Simple: don’t create your collectible posts on Hey, and don’t collect posts on Orb. That’s it! There are no added fees when collecting from Hey, and no automatic split added when posting from @focalize, for example.

Other apps with high additional split fee on collects: Tape 5%, BloomersTV 5%. Orb is the only app, that I’m aware of, that adds fees on the buyer side.

I might make a website that breaks down all of this stuff. Essentially a “ranking” for Lens apps on how open and decentralized they are, what fees they’re adding, etc.