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NFT Demo: Offer, Accept, Resell

Updated: Sep 28, 2023

Introduction


Engage in the world of NFTs with our step-by-step guide. From making an offer to understanding the intricacies of transaction fees, we've got you covered. Whether you're a seasoned collector or stepping into the digital realm for the first time, this guide is for you.




Section 1: Setting the Stage with “Space2Kiss”

Jump into a hands-on demonstration with “Space2Kiss”:

  1. Start by linking your Coinbase or MetaMask

  2. Spot the extensions section on the top-right

  3. Ready to make an offer? Simply click "Make an offer"

  • Insight: Linking a secure wallet like Coinbase or MetaMask is your first step to ensuring seamless and safe transactions in the NFT arena.

Section 2: Making and Monitoring Your Offer

Found the perfect NFT during our Metaverse Tour?

  1. Decide on your price and input your desired ETH

  2. Always account for payment currency and ETH for potential fees

  3. Opt for "Aggressive" gas fees for quicker transaction processing


  • Expert Tip: While "Aggressive" gas fees expedite transactions, always be cautious. Failed transactions with insufficient fees can incur additional costs.

Section 3: Accepting Offers and Foundation's Rules

As a seller, knowing how to navigate offers is paramount:


  • View all active offers under the "Activity" section.

  • Choose to accept or reject. Rejected offers expire in 24 hours.

  • Ensure you're aware of Foundation's fees for sales.


  • Insight: Platforms like Foundation.app have specific fees. Keeping abreast of these ensures there are no financial surprises.

Section 4: The Reselling Process

The journey doesn't end at the first purchase. Here's your guide to reselling:


  1. Your NFT is now in your Web3 wallet and listed on the Foundation.app Marketplace

  2. Receive an offer? Choose to accept or wait 24 hours before declining

  3. Familiarise yourself with Foundation.app's rules, including their royalty and resale fees

  • Expert Tip: Reselling NFTs can be lucrative. However, always be informed about platform-specific rules and fees to maximise your returns.

Section 5: Mastering Gas Fees with MetaMask and Coinbase

Gas fees play a pivotal role in the Ethereum network:


  1. Always retain some ETH in your wallet to cover these transaction fees

  2. Use tools like "txstreet.com" for real-time visualisation of Ethereum's gas fees

  3. Failed payments? It might be worthwhile to prioritise faster payments, especially for larger transactions


  • Insight: Gas fees fluctuate based on network congestion. Platforms like MetaMask and Coinbase offer insights and tools to help users make informed decisions.


Conclusion


Armed with this knowledge, you're well-equipped to journey through the NFT marketplace, making offers with Soul4Space, accepting them and even venturing into reselling. The world of NFTs is vast and ever evolving. But with the right information, you can confidently make your mark.


  • Remember: Especially for significant transactions, prioritise faster payments to ensure security and promptness. The crypto world awaits!

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