What is a Split?
As a creator on Foundation, there’s now a seamless way to split earnings between collaborators, donate directly to causes you care about, and create more possibilities for distribution that have yet to be realized in the NFT space. Splits open up new revenue streams and reward collaborative efforts between artists, musicians, galleries, record labels, causes, and more.
With Splits, you can share earnings with up to 3 other recipients. Everyone participating in a split will receive funds from the primary market sale, and will also receive earnings for all secondary market sales in perpetuity.
How can I create a Split NFT?
As you go through the flow to mint an NFT, you’ll have the option to create a Split.
- Toggle the "Create a Split" button and click "Continue"
- Type a Foundation username or paste any Ethereum wallet address in the field. You must select at least one other account, and can add up to four in total. As the creator of the split, you will also be included.
- Select the percentage that each recipient will receive for the split. All percentages must add up to 100%.
- After you've completed the above, mint the NFT and you've just created a split!
How do Splits work in the secondary market?
When a work is sold on the secondary market, a 10% royalty is earned from the final sale price. All recipients will receive a percentage of the royalty based on their original Split percentage.
Can I update or change a Split after I minted the NFT?
No, a Split can't be changed or updated once a work is minted or sold. If you would like to update a split, you will need to burn the NFT, mint the piece again, and set new percentages.
Can I create a new split when I put a work in my collection on the secondary market?
No, you cannot create a Split for a secondary market listing. You can only create a Split during the minting process.
Why can I only Split with 4 people?
At this time, we limit the number of recipients you can add to a Split because the cost of gas to mint and claim an NFT goes up as you add more wallet addresses.
If I create a split will the NFT be shown on all of the participants profiles?
After you have created a split, the NFT will be displayed on all of the participants' profiles under the Splits tab.
If you are the creator of the split it will also be shown on the created tab as well.