Novices can also quickly create and sell their first NFT (selling chapter)

foreword

We have discussed what NFTs are in the previous article, as well as the types and applications of NFTs. (Related reading: One article to understand what is NFT and its application)

In the previous article, I also established my first NFT! (Related reading: Novices can also quickly make and sell their first NFT (production))

It is also very simple to sell, click into your own NFT work to see, you should find a big blue button that says Sell, just press it!

Note that if you log in with your wallet, but it keeps asking you to connect to your wallet after pressing Sell, please check what your wallet's main network shows, it may be that your wallet's blockchain is wrong , OpenSea currently only supports Ethereum and Polygon, if your wallet is now BSC or other chains, there will be problems!

So what chain should I choose?

Which chain was selected to issue NFT at the beginning, the wallet must be connected to that chain. If you are building a wallet for the first time, there may not be a Polygon mainnet. Don't be afraid, don't be afraid, let's build it quickly.

However, the sales of Polygon and NFT on Ethereum are not the same. I will introduce them separately, so if your NFT is posted on Ethereum, you can skip the chapter on selling NFT on Polygon.

Setting up and selling NFTs on Polygon

Building Polygon Mainnet on Metamask

Click the drop-down menu above Metamask, select "Custom RPC", and you will see a new page.

You can copy and paste it directly to avoid the wrong URL inside.

• Network Name: Polygon
• New RPC URL: https://polygon-rpc.com
• ChainID: 137
• Symbol: MATIC
• Block Explorer URL: https://polygonscan.com/

Then after pressing save, the drop-down menu of your Metamask main network should appear as Polygon or matic main network.

If you successfully enter the List item for sale page, we will need to set some information to sell:

• Price: The easiest to understand, how much do you want to sell, the unit here is ETH on Polygon! So you can check the current price of ETH to USD by yourself to see how much you plan to sell. (Remember to count Fees as well!)
• Duration: The NFT listing period, if the period expires and it is not sold, OpenSea will automatically remove it for you.
• There is an option of "Reserve for specific buyer" in More options. Once it is ticked, it means that you want to reserve this work for a certain buyer, just enter the other party's wallet address.
• Fees: Service Fee is the service fee drawn by OpenSea, where the transaction will always be drawn 2.5%, and Creator Royalty is the royalty we set when we established the Collection. At that time, we set it at 10%, and the new NFT is built on Under this Collection, the setting of 10% royalties is naturally introduced directly.

The subsequent steps can be directly pulled down to the "Final steps before listing" chapter.

Setting up and selling NFTs on Ethereum

If you choose to issue NFT on Ethereum, whether you list or cancel the listing, you must first have Ether (ETH) in your wallet to pay for the Gas fee (transaction fee), because the Gas charged is denominated and paid in Ether. The purpose is to be able to transfer assets on Ethereum. Since any action on Ethereum requires a handling fee, and the handling fee has always been quite expensive, you should think twice before operating each step.

I don't know why, but if it's an NFT on Ethereum, the auction on OpenSea has more features (or are these features just not available on Polygon yet?), and the Metamask part is installed when the installation is complete. There should already be an Ethereum mainnet, so we don't need to set it up.

After pressing the Sell button, you will go to the List item for sale page.

There are three main auction modes. The biggest items are Fixed Price and Timed Auction, and Timed Auction is divided into English auction and Dutch auction. The principle looks like Complicated but not difficult to understand, you can decide which auction mode you want to use after reading the explanation.

1. Fixed Price: Fixed price auction. In fact, you will know immediately what it means literally, that is, how much I want to sell. As long as the other party is willing to bid, the transaction will be completed immediately.

2. Timed Auction – Sell to highest bidder (British auction): Timed Auction means a limited-time auction. Usually, a period of time is set, during which time everyone can bid, and the bidding method will be different due to different auction modes. If we set the Sell to highest bidder, the highest bidder wins, also known as the traditional British auction. Basically, there will be a Starting price, which is the starting price. Although the time is up, whoever bids the most can buy it. It seems very simple and easy to understand, but there are still several situations to be considered. Let’s give some examples.

Situation 1: The final bid price is more than 1 ETH. At this time, your NFT will be automatically transferred to the buyer, and OpenSea will automatically pay for the gas fee generated during the sending process.

Situation 2: The final bid price is less than 1 ETH. At this time, you can choose whether to sell to the highest bidder (Accept offer), because once accepted, you will need to pay some gas fees for transferring NFT. If you refuse to sell, it seems to belong to There is no additional gas fee for transactions that are not completed (not sure here, but it is certain that if you manually cancel the NFT being auctioned before the limited-time auction has ended, there will be an additional cancellation fee).

Situation 3: In addition to setting the starting price, you can also set an additional reserve price (Reserve Prices), which means that as long as the bid of the highest bidder of the product is not greater than or equal to the reserve price, the transaction will not be completed. Suppose the starting price is set to 1 ETH, and the reserve price is set to 2 ETH , if the final auction time is up and the bid of the highest bidder of the commodity is not greater than or equal to 2 ETH, the auction will be regarded as no transaction, and the transaction will be automatically completed if it is exactly or more than 2 ETH.

3. Timed Auction – Sell with declining price (Dutch auction): also known as Dutch auction, which is completely different from Sell to highest bidder. It is a mode of reduced price auction. We need to set a starting price (Starting price) and a Ending Price, but this starting price will gradually decrease over time until a bidder buys it, or the auction time is up, and there is still no bid at the bottom price.

For example, if the starting price is 100 ETH, the base price is 10 ETH, and the price is limited to three days, the price of this NFT will gradually decrease from 100 ETH to 10 ETH within three days. Assuming that someone bids at 25 ETH, this NFT will eventually be Will be sold for 25 ETH! Conversely, if the three-day deadline expires and no one bids even the reserve price of 10 ETH, the auction will be deemed to be no transaction and the auction will end.

I personally think that the Dutch auction is the most terrifying auction method among these types of auctions. With the price getting lower and lower, the pressure of being afraid of being bought by others and not wanting to buy expensive is more terrifying than the constant price increase competition, but maybe Different types of NFTs have their own suitable auction methods, so it is important to understand which selling methods are more important here, and then sell your works according to your own heart!

Final steps before listing

If you actually sell it, you will find that if it is an NFT made on Polygon, no matter whether it is listed or unlisted, you only need to go to the next step, and the process is completely free of fees; on the contrary, if you choose to make NFT on Ethereum, no matter what. To list or cancel the list, you must first pay the gas fee (transaction fee) with ether (ETH), and the fee is quite expensive. You should think twice before performing any action, and don't waste your money. Nothing was done.

After pressing Complete listing, you will enter the final step. This is the next step. If there is a pop-up message in your fox wallet asking you to sign something, just press the sign directly.

Congratulations, everyone, successfully put our work up for sale! !

If you want to remove NFT or edit some sold content items, just go back to your Profile, click on the work, and the buttons of Edit and Cancel listing will appear in the upper right corner.

Epilogue

If you are a creator yourself, I believe that after understanding NFT , making NFT , and selling NFT, you will find it quite interesting. These auctions we set can be said to be special sales that were difficult for people to do before. Before the advent of NFTs, it was hard for me to imagine that there could be an art auction that would be open 24 hours a day, and everyone could come in and out at any time to view works or bid for and buy and sell.

Although the proceeds from selling NFTs have to be exchanged for cash, it will be a bit difficult for those who have not been exposed to cryptocurrencies, but from another perspective, it is because these difficulties create a barrier to entry, which in turn gives us a better chance to get more from it. Generally, the higher visibility and even higher income of the auction works are exhibited. It is not so resisting to consider how to use these new technologies as homework to improve the value and visibility of your works~

In the future, I will also slowly write some articles on cryptocurrencies, or discuss the technology behind it. I hope to be able to accompany and encourage each other to grow up during research, writing articles and interaction with readers! However, the update speed will not be very fast, you can check it directly on the Internet. I believe that there are already many teaching articles on the Internet, but the process of finding information must be verified repeatedly, because most of the advertisements you see are almost scams. As long as one suddenly "please transfer the money to me first", "please transfer the money out", "high remuneration and steady profit without loss", it will be regarded as a fraud group. The money you earn is remitted. These cryptocurrency scams may be harder to catch than cross-border scams. If you are really deceived, even if you go to the police station, the police will accept your case, but there are about 87% of the cases. The probability is difficult to detect, and the money will directly become something you don't like, and it will become a ghost paper engraved in your heart.

As for how to buy NFTs, you may need to do a lot of non-tech-related homework, and there may be investment-related issues in the middle, so I don't plan to write related articles for the time being. If we regard NFT as a work of art, the value of art from ancient times to the present comes from the people who appreciate it, and how much people who appreciate it are willing to spend to buy it will generate the price. The works you like are already a good investment!

Finally, thank you for taking the time to read my articles. If you still like these content, I hope to get your follow-up and support.

See you next time o((>ω< ))o~

Original link ITechNote technology essay