Royalty fees are a commission that is earned by the original NFT creator on all secondary sales of their work.
By adding a royalty percentage to an NFT or NFT collection, creators can make sure they participate in the future success of their creations. Every time one of their NFTs is sold on the secondary marketplace, the creator receives a cut of the sales price.
Service fees are fees charged on transactions by a marketplace for their services.
At Rarible, we receive 1% on the seller side and 1% from the buyer side for every sale happening on the marketplace.