How to sell NFTs?

Created by WazirX NFT, Modified on Sat, 25 Jun 2022 at 01:26 PM by Imran Khan

What can I sell or drop as NFT?


Any digital art, GIFs, videos, audio can be dropped as an NFT.


 


Is there an upper limit to the file size of an NFT?


Files up to a size of 100 MB can be added.


 


How long can a video dropped as NFT be (time limit)?


There is no time limit as of now. However, make sure that the video file size is within 100 MB.


 


How long can an audio file dropped as NFT be (time limit)?


Audio files can be dropped as an NFT in the form of MP4. They should be within 100 MB.


 


What are the file formats accepted in the platform? 


Video files as mp4 or WebM, image files as jpeg, png, gif are accepted. 


 


I want to make my first listing. What transactions are required? 


To make your first listing, you'll have to first mint the NFT. Set the price of the artwork in WRX, set the royalty, and mint the NFT. The only fee to be paid here is the gas fee.


 


How do I list/sell an NFT?


To list an item for sale, first go to the 'Create NFT' page. Upload your artwork in the specified formats. Enter the title, description, royalty, and the price of the NFT. Then click "Save".


You can see all your creations under "Creations" in the "Profile" section.






Video 
for better reference.



How to burn an NFT?

Burning an NFT might sound complicated at first, but luckily our NFT marketplace makes it easy for anyone to burn their non-fungible token if required.


  • Click onto the NFTs page you want to burn.
  • Click "Manage"
  • Choose "Burn"
  • Click "Confirm" to delist the NFT.
  • Proceed by clicking "Confirm" again and Burn the NFT.
  • After clicking "Burn", your connected wallet will prompt you to confirm the transaction by paying the gas fee required to complete the process.

                                                                                                                                                                           


   

Video for better reference.



Note - Burning the NFT is an irreversible process. Re-uploading the same NFT will require the same steps as the original upload. 
 

How sell an item?


An item can be sold for a fixed price. The price is set while minting the NFT. The royalty for the NFT can also be set at that time.


 


Can I gift or transfer an item to another wallet?


This feature is still under development


 


Can I create an NFT without putting it on sale?


Yes, you can and you can decide if you want to sell it later or not. NFT minting without auction


 


How do royalties work?


When a collectible is created, the creator can set a specific percentage as royalty for secondary sales. The creator receives a royalty amount according to the percentage set if the buyer sells the artwork at a higher price than the buying price of the artwork. On our platform, the Artist/Creator can set their royalty percentage while creating an NFT. The minimum royalty is 1% and the maximum is 15% (on the price of the NFT).


 


Can I split the revenue with a collaborator? 


It is not possible to do it directly, but it can be shared later. It is recommended that you transfer/distribute funds after the sale.


 


Can galleries and record labels create profiles on WazirX?


Yes, creators and collectors have profiles. Galleries and record labels can operate from the creator's profile if they have the access to mint on the creator's behalf.


 


Can I sell editions of my work on WazirX? 


This feature is not available for now. You can look forward to it in the upcoming versions.


 


Is it possible to sell physical items attached to an NFT?


The creator has the option to sell physical goods along with the NFT. However, the creator would have to deal with shipping and other processes. Collectors/buyers cannot produce physical products related to the NFTs they purchase.


 


Can I change the price of an already created collectible?


Yes, the price of an already created collectible can be changed. The requests need to be signed via your crypto wallet.


 


Can I transfer my creator account to a new wallet?


No, we currently don't support account transfers to new wallets. The wallet address that is provided when setting up the user profile is unique and only the user has access to it, thereby maintaining proper verification.

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