Hi creators! This is a guide to help answer any questions you might have about working with Magik Market. It’s important to read this entire document so you understand how Magik Market works. Please feel free to reach out to firstname.lastname@example.org if you have any questions!
PAYMENT + SALES
Magik Market pays out creators based on monthly sales periods. Payouts to creators will be processed on the 10th day of each month and include commissions generated from the prior month’s total sales. We will send a confirmation email to you once the payout has been processed.
Getting set up for payment is very easy:
- After we’ve added your products to our store, Nico (email@example.com) will reach out to get your preferred payment method. The options are PayPal or ACH Bank Transfer.
- He will also set you up with an account to the website so you can login at any time and check reporting of your sales and payouts.
We’ve put together a pricing guide to help you price your products. Please refer to it when thinking about pricing. All creators have different skill levels and hourly fees, so this is only meant to serve as a guide. If we think your pricing needs adjusted, we will let you know.
Here is a Licensing Agreement that all customers must sign before they make a purchase on Magik Market.
Our commission structure is as follows and is subject to change. Keep in mind that the customer pays this fee. You set your own price and you get that entire amount.
- 25% on content priced between $0-$99
- 20% on content priced between $100-$249
- 15% on content priced between $250 - $999
- 10% on content priced at $1,000 and up
EXCLUSIVE VS. EDITIONED SALES
On Magik Market, you can sell content two different ways, Exclusive or Editioned. We do this because some customers want to be the exclusive owner of their content, and some customers don’t care if other customers own their content too.
- Sold at a higher price
- One time sale, inventory of one.
- After it’s sold, it’s removed from the website so the customer becomes the only owner.
- As a creator, you can keep the content on your portfolio and in your saved Instagram stories, but it cannot be usable on your IG account.
- Selling your content for Exclusive ownership is not required
- If the content is also being sold Exclusively, then the Editioned price must be sold at 60% of the Exclusive price. If the content is not being sold Exclusively, then you can set the Editioned price at whatever amount you’d like.
- Can be sold from 2 to 5 copies
- If a customer buys an Editioned copy, then we have to remove the Exclusive option and only sell it at the Editioned price until it runs out.
- You can keep your content accessible and usable on your social accounts and it can be used by your followers.
- Remember, the only protection we have against customers sharing your content file is the terms and conditions they agree to upon checkout.
- Selling Editioned copies of your content is now required
Since many of our customers are small brands, they want to be able to customize the filters they see on Magik Market. We’ve built some features on each product page that give them the ability to customize Exclusive filters only. We will give you the option to handle the customizations. If you would rather not, or cannot get them done in a reasonable amount of time, then we can handle them in-house. Here’s how the process works:
- A customer requests certain customizations as they buy an Exclusive product.
- We contact you to handle customizations. If you’re able to do it, then we send you the request from the customer and get a quote. If you’re not able to do it, then we’ll get your project files for our in-house team.
- If the filter is customized to be very different from your original, then we can keep the original for sale and you can make some more money.
- Once the customer approves the quote, we’ll make the customizations to the file and we send the finished product to the customer.
Here’s how we work to protect your purchases.
- Customer License Agreement: During the checkout process, customers must sign a License Agreement that states they are not allowed to share, send, or edit their purchased content. It also states that it can only be uploaded to one Instagram account that they own.
- Refunds: Refunds are not allowed on Magik Market. If a customer feels like they are eligible for an exception to this rule, we will get in touch with you to review.
WHY MAGIK MARKET?
Sometimes, new creators ask us why someone should use Magik Market instead of Gumroad or another creative marketplace. Here’s our answers:
- First off, you can do both! We don’t currently require exclusivity from creators. If you want to be able to sell your content on your own web store or anywhere else online, you can.
- Creators get to take advantage of all the sales, marketing, advertising, and promotions that we are doing to attract customers, talent agencies, brands, musicians, influencers, and celebrities. All specifically for AR content.
- Our platform is designed for AR content. Customers can try filters and effects directly from the website.