In this article you will find:
- How does Space wallet work?
- Sponsor tournaments
- Add funds
- Withdraw profits
How does the Space wallet work?
Your Space wallet collects all earnings from subscriptions or ticket sales within your Space and any funds you add yourself.
When you start earning income from subscriptions, at first, they will appear in the escrow balance. In the escrow transactions history, you can see all the subscriptions you sold this month. At the beginning of each month, we bundle all of these transactions into one. At that moment, the platform will self-generate an invoice for all the previous month’s escrow transactions and move the escrow balance to the current Space wallet balance, which you can then use for funding tournaments or withdraw.
We have an example for you!
- You are the Space owner and you have created a recurring monthly subscription.
- A player purchases the subscription on June 14th. That day you will see the purchase made in the escrow transaction history, but you will not be able to use that money just yet.
- On July 1st, the platform will automatically collect all transactions made in June, calculate the amount, and put the total into a self-generated invoice.
- When that is done, profits gained in June will become available in the Space Wallet, ready for you to use.
Sponsor tournaments from the Space wallet
- To fund the tournament from the Space wallet, you need to go to your tournament settings and find Prizes.
- In the Sponsorships section, you will find an option to add a sponsorship.
- In the popup, you will then be able to select the wallet you want to sponsor the tournament with, choosing between your personal account wallet and the Space wallet.
❗️Note: The Space wallet can only be used to fund tournaments within the same Space. If you own multiple Spaces, you cannot use the Space wallet of Space A to fund a tournament in Space B.
Adding funds to the Space wallet
Sponsoring your tournaments via the Space wallet helps you keep your transactions history in one place and makes it easier to manage funds.
Withdraw the profit from the Space wallet
Money in the wallet can be kept as long as you want, especially if you are planning to use it to fund tournaments.
Space wallet balance is only visible to, and accessible by, the Space owner.
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