Definitions

 

NFTs (“Non-Fungible Tokens”)
These are your art pieces – a unique digital token that represents a singular asset. They can be sold and traded in auctions for collectors to bid on or purchase, and are digitally signed, permanently recorded, verified and protected through the blockchain technology.

Minting
This is the process of creating your artwork for sale on the Ethereum blockchain – a public ledger that is unchangeable and tamper-proof. In the same way metal coins are minted and added into circulation, NFTs are also tokens that get “minted” once they are created.

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.

Register yourself as a creator on nftONE and connect your ETH wallet using metamask once the admin approves.

Firstly, login to your account and click the ‘Create’ button which will take you to the “Creation page”. Here you can select between uploading an image in JPG, GIF, SVG, PNG a video file in MP4 format.

Upload a new artwork: Submit a JPG, PNG, or MP4 file that’s no larger than 50MB. For video files, use 1080p or 4K. When you upload your artwork files are automatically stored in an IPFS (Inter Planetary File System). This means that nftONE doesn’t hold your artwork or funds in a centralized server. Artworks on nftONE do not get minted unless a winning bid is accepted. This process is called lazy minting.

All artworks are hosted on a peer-to-peer hypermedia database designed for sharing data in a distributed way. At the same time, a version is digitised to the token that is stored on the blockchain and this version cannot be changed. The file itself is then hosted on IPFS to ensure that it will live on forever.

Add a title and description: Include some background for your artwork, interesting details regarding creation, history or other information you think is relevant in the ‘Add Title’ and ‘Description’ fields.

Before you can list an nft for auction, you need to decide on a reserve price for your nft. This is the minimum amount of ETH you’d be willing to accept for your artwork. Anybody wishing to buy your work will not be able to place a bid below the reserve.

nftONE charges a 15% service fee on the final sale price of your NFT – you may wish to take that into consideration when setting your reserve price.

The secondary sale commission percentage for nftONE is set at 5% and you as a creator is set at 10%.

Once you’ve decided on the reserve price. select a start date and end date for your auction.

Once all these steps are completed, you will be able to submit your listing for review.

Then you can click “View artwork” to see your work live on the site ready for bidding.