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Dear Steemians,
I am glad to be part of this week's lesson. Thanks to Professor @levycore for giving us this excellent lecture on how Selling and Buying NFT.
After going through the notes and researching this week's topic, I have decided to review what I have learned in my homework task.

Select the NFT market that you want to try to sell and buy NFTs and why did you choose this market

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Rarible

Rarible is the first decentralized community-owned NFT marketplace for buying and selling NTF's. Rarible is the first governance token in the NFT field and uses the RARI as its Token. RARI Token is used to power this community-run platform model. Traders can mint single or multiple NFTand put them on sale by following a few steps.

Rarible platform has made it easy for users to create NFTs unique digital items such as game tools, artworks, and many other digital works. The platform has a user-friendly interface for smooth and easy interactions. Any user with an active account with Rarible can create and post NFTs on the Rarible marketplace.

As of seventh May 2021, the Rarible crypto market has more than 70k monthly visitors. It has a current price of $18.69 with $2,807,409 as of its 24-hour trading volume. It is ranked 521 on CoinMarketCap. Rarible also has a market cap of $67,351,202 and a circulating supply of 3,603,468 RARI coins.

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Select the NFT market that you want to try to sell and buy NFTs and why did you choose this market

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• Go to https://rarible.com/ to access the official site of Rarible

• A crypto wallet is needed for any trading to be done on the platform. I will be using Metamask for the illustration
  Click on "connect wallet* to connect the wallet you want to use.

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• Select "metamask wallet" to connect

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• There are many NFTs in the market; select the one you want to buy. Each NTF displayed has its price tag and other relevant information for the trader.

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• Click on "place bid" to proceed to the next page

• A page will be opened for you to enter the bid to buy the asset.

• Confirm your order, and the funds will be deducted from your wallet. Your order will be processed, and you will receive your asset.

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How to Sell NFT ( Screenshot needed)

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• To sell NFT on the Rarible market, we first need to connect our wallet. The funds received from the sold asset will be in that wallet. I will be using Metamask wallet for the illustrations.

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• Select "metamask wallet" to connect

• Locate and click on "create" at the right top of the home page.

• Two options will be displayed to choose whether to create a single or multiple collectibles. I will choose single.

• A new page will be shown for the user to upload pictures or gifs and other files Rarible supports PNG, GIF, WEBP, MP4, or MP3 files, and the file size should not exceed 30Mb.

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• The uploaded file will be shown with its preview.

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• You have to set the price of the NFT; you can choose to make it fixed, timed auction, or unlimited auction. There will be a service charge on the NFT you want to sell.

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• You also have to choose the collection; the default is Rarible.

• An additional information such as

• Title: Show on top of your NFT

• Description (Optional): Describe your NFT

• Royalties: Feature which will give you benefit additional earning see details here: https://www.notion.so/rarible-com-

• Click on "create."

• A page will be shown for the user to approve, Sign Mint transaction and Set Fixed-price

• Your Metamask wallet will validate the process, and the NFT will be listed and available for sale at your fixed price.

** Mention and explain the advantages and disadvantages of the NFT market you have chosen**

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Advantages of the Rarible market

• NFTs on Rariblemarket are secured by Ethereum Blockchain.

• There is a validation process that allows users to buy from trusted people.

• Rarible provides an incentive for both buyers and sellers in their own currency RARI; this makes the platform flooded with users.

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Diadvantages of the Rarible market

• Gas prices on NFTs are very high. Users usually pay transaction fees.

• The platform has no well-prepared documentation to guide new users

• Because of the daily traffic on the platform, this makes the website to be prolonged to load contents.

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Conclusion

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Rarible is a leading NFT Platform. Users can buy and sell NFTs quickly. It has a user-friendly interface for easy navigation. I hope the team of Rarible will work out to increase the speed of the website.

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Thank you for reading

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All the screenshots used for the illustrations were taken form the Rarible website