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How does UPYO NFT marketplace work?
Build up your digital wallet
It’s essential to create a crypto wallet as it acts as your personal bank account wherein you keep all your crypto tokens. Hence, set up your preferred wallet and connect it to UPYO.
Develop your collections
After setting up your wallet, it’s time to start building your collection. Briefly describe your collection, add banner images, and fix a secondary sales amount.
Begin adding your NFTs
Click on the “Upload” icon and start uploading your work (video, artwork, or audio) in any file format. However, include details like name, description and personalize your NFT with stats before uploading.
List your NFT for sale
After uploading the crypto assets, write the description, fix the price, and pay gas fees to complete the listing process. Make a decision on how you wish to trade your NFTs.
What is an NFT marketplace?
NFT marketplaces are dedicated online platforms for digital artists to upload and list their digital assets for sale and buyers to select from its infinite collection of NFTs to buy. Such NFT platforms allow users hassle-free minting and trading opportunities. Based on blockchain technology like Ethereum blockchain, Binance, Polygon, etc., NFT websites offer an easy and secured trading experience.
How can I buy NFT?
Follow these steps to buy NFTs:
- Purchase cryptocurrency and connect your wallet to the platform.
- Click on the ‘buy’ icon to buy NFT directly.
- Bid an amount on NFT available on auction to purchase them.
- If your auction amount is more than or equal to the reserve price, UPYO will finish the transaction and transfer the NFT to your account.
How do I sell my NFT?
To sell your NFT, follow these steps:
- Connect your digital wallet to our platform.
- Mint the token.
- Fill in details and upload images.
- Fix the price.
- Decide whether you want to sell NFT in a fixed-price or auction option.
- Click on the ‘Cancel Listing’ icon if you wish to unlist the NFT from the platform.
- Accept the fee and terms & conditions.
What is the cost to create an NFT?
The cost to create an NFT range between $7 to $150 based on the complexity involved in the project. However, the cost varies based on several factors like the quality and size of the artwork. Moreover, the type of blockchain also plays a vital role in determining the cost of the NFT.
What is the significant difference between cryptocurrency and NFT?
The main difference is highlighted in the name. Cryptocurrency is a type of currency that has economic value and is a fungible token. This means that within a specific cryptocurrency, it makes no difference whatever crypto token you hold; it possesses the same value. Simultaneously, NFTs are non-fungible and hold a value that extends well beyond economics.
Why choose UPYO to buy and sell NFT?
Choosing UPYO to buy and sell NFT would be wise as UPYO is the perfect marketplace that brings together crypto enthusiasts, digital creators, and artists under one roof. You can buy and sell NFT with utmost ease on our platform. With the easy-to-use interface, trading becomes a cakewalk on our website.