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A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.
Minting an NFT is how your digital art becomes a part of the Ethereum blockchain–a public ledger that is unchangeable and tamper-proof. ... Your digital artwork is represented as an NFT so it can then be purchased and traded in the market and digitally tracked as it is resold or collected again in the future.
There are 2 methods to list your NFT. (1) Go to your profile, there will be a switch icon on all NFTs you own. You need to move the switch to ON. After that NFT listing process is initiated where you need to accept the listing transaction on your wallet. As soon as the transaction is completed, you have successfully listed the NFT on the marketplace. Now your NFT is available for purchase.
In the create NFT form, go to multiple option, you can find No. of copies section in the bottom of the form. We can enter no. of copies we want to create of that NFT. Once 1st copy is sold, 2nd copy will be available in your profile for listing.
In the create NFT form, there is a resell NFT switch, on switching it ON, there will be a field to enter royalty percentage. We can enter percentage upto 50%. On every resell you as original artist will get the royalty percentage of NFT amount.
There is no fee collected by the marketplace for creating, listing and burning/deleting NFTs. On every sell/purchase operation, marketplace charges 2.5% to both buyer and seller.
There will be a delete button on NFT owned by you. You can confirm the deletion and it will initiate NFT delete/burning transaction. It will ask to approve the transaction in your connected wallet. Once user approves the transaction and it is completed, the NFT is successfully deleted from the marketplace.
Verified badges are granted to creators and collectors that show enough proof of authenticity and active dedication to the marketplace. We are looking at multiple factors such as active social media presence and following, dialogue with community members and so on. Marketplace reserves the right whether to assign a Verified badge or not to the user.
In your profile after adding profile photo, name, username, no. of followers, atleast one social media profile link, bio and verified email, you will get option to request for verification. On clicking it, your request will be sent to the marketplace admin who will be reviewing your profile. As soon as admin verifies the profile based on the profile details provided by you, the verification badge will be visible on your profile. You will get a congratulatory mail when your profile is reviewed and verified by admin.
Artist gets royalty on the NFTs which are re-sold in the marketplace. Artist has to enable the Royalty feature when creating the NFT and they have to mention the amount of royalty that they want whenever their NFT is resold.Royalty proceeds get credited to the artist's wallet immediately when the transaction is successful based on the eligibility.
Marketplace is not responsible for any financial or any loss incurred that may arize as a result of buying or selling NFT on marketplace. The users of the marketplace at their own risk will be creating NFTs, selling NFTs and buying NFTs and that marketplace will not be liable for any disputes arizing from the use of markeplace services. If you have any issue with any user or any NFT, there is a link which says 'Report content' when you click on (...) on top right on the NFT detail page. You can report your issue and it will be sent to the marketplace admin. Marketplace admin at its sole discretion will take appropriate steps which could be removing the disputed NFT or disputed buyer/seller/artist or as the marketplace admin think as appropriate.
In case of payment not reflected in wallet, user can use contact us feature available at the bottom/footer of the site. User can mention transaction hash/username/public address in the message. Site admin will be able to see the message and check the transaction status on the blockchain explorer and if they found failure status, the transaction will be reverted back by the blockchain and no amount will be deducted/credited to concerned parties. If the transaction status is successful, the user will be asked to wait for 24hrs as blockchain takes time to send amounts to the user's public address due to high network traffic on the chain.
Once you purchase an NFT, you will be able to see a download link on that NFT page from where you can download your purchased NFT.
Currently the marketplace supports MetaMask and Coinbase.
Currently the marketplace supports Ether crypto currency. All the transaction takes place considering Ether crypto currency.
Currently the marketplace is supporting Ethereum blockchain.
On the NFT detail page, you will find a link 'View Proof of Authenticity' from where you can check the ownership authenticity.
Currently we have a limit of max. 50 copies of a particular NFT.