How to Sell an NFT?
Last updated
Last updated
Selling an NFT using U2NFT is simple and user-friendly. Anyone who owns an NFT can list it for sale, whether that’s the creator of the NFT or the person who most recently collected it. Creators and collectors have two main ways to sell using U2NFTvia fixed price sale. Buyers pay gas fees when purchasing a fixed-price item and U2NFT receives 2.5% of the sale price of your NFT.
An NFT (non-fungible token) is a unique digital item stored on a blockchain. NFTs can represent almost anything, and serve as a digital record of ownership.
To sell an NFT using U2NFT you’ll need a few things: an U2NFT account, a crypto wallet, and something really awesome to sell. It’s up to you to decide what that awesome thing will be.
Your NFT will typically consist of two things: a piece of media (like an image or video), and what that media represents.
NFTs operate on blockchain technology. The blockchain is basically a large, digital, public record. The most popular blockchains are distributed across many nodes (read: people’s computers), which is why you’ll hear them described as “decentralized.”
So instead of a central company-owned server, the blockchain is distributed across a peer-to-peer network. Because the blockchain records and preserves history, it is uniquely positioned to transform provable authenticity and digital ownership.
When someone creates, transfers, buys, sells, or otherwise does something with an NFT, that all gets recorded on the blockchain. This is what enables authentication.
This record serves as a permanent statement of authenticity that can be viewed or accessed by anyone. Today, when you buy a piece of art or a collector's item, it typically comes with a paper certificate of authenticity, which you must then keep track of forever. It is easily forgotten, lost or destroyed, creating a very fragile system for authenticity. Blockchains offer a simple and more secure solution to this long-standing issue of proving authenticity.
An NFT can represent almost anything. Today, NFTs are being used in art, gaming, photography, music, domain names, memberships, and more.
New applications for the blockchain are constantly emerging. New use cases include identity verification, intellectual property, and storage solutions, like Courtyard, which holds physical inventory and enables you to safely hold, sell, or claim the item you’re ready to redeem. The possibilities for future applications are endless!
Selling NFTs isn’t just for the people who create them. An NFT can also be sold by the collector who bought or received it from the original creator, or the collector who bought or received it from the previous collector, and so on and so on. Whoever currently owns the NFT can sell it.
There are a few methods you can use to sell your NFTs using U2NFT. You can sell your NFT for a fixed price and allow buyers to purchase it outright.
Fixed price sales allow sellers to define exactly how much they want to sell the item for.
Step 2: List your NFT for sale using U2NFT
On U2NFT, navigate to the top right of the page and click your Profile icon. Select the NFT you would like to sell from your wallet.
On the top right of the item page, click Sell.
Choose the type of sale and the price.
Set a duration for the sale by choosing a default duration or setting a custom duration using the calendar.
In all those options, you’ll see the potential fees from the sale listed at the bottom.
Any transaction, including sales, typically include gas fees and a marketplace fee. Buyers pay gas fees when purchasing a fixed-price item, and some transactions may also include creator earnings. Sellers pay gas fees when accepting offers. U2NFT's fees are simple and straightforward: U2NFT receives 2.5% of the sale price of your NFT.
At U2NFT, we offer a variety of ways to keep costs to a minimum while selling your NFTs. The new protocol for buying and selling NFTs using U2NFT, significantly lowers gas fees. It also eliminates the one-time setup fee to use our marketplace.
