Crypto Academy Week 12 Homework Post for [ @levycore ] Buying and Selling of NFTs in market.
- Select the NFT market that you want to try to sell and buy NFTs and why did you choose this market?
How to Buy NFT ( Screenshot needed)
Open Metamask wallet and click on top left corner, a drop down menu will appear. Look for option "Browser ". Click on it.
Next , a page of decentralized apps will be loaded. Search Bar is also available. Type the name of project/market you are looking for. Say "cryptokitties".
- Locate your project and click on tt. I made a search for cryptokitties. Click on it.
Click on " Get your own kitty".
Next Connect your 'wallet".
Enter your email id and password. Please note that, this is email and password for cryptokitties market and not your Metamask.
Next click "Get your first furry".
Next select your kitty. Click on " Buy with ETH". That's it. Due to low balance, i couldn't complete the transaction.
- How to Sell NFT ( Screenshot needed)
To sell NFT , you have to go to your collection. As i haven't bought any kitty. So i won't be able to demonstrate it with the help of screen shot, however I'll brief the exact procedure.
Suppose you had bought any kitty by the name of "lucy" . Breed your kitty with another Kitty, say "luky". One they breed, they will give birth to a young kitty, say " Yucy".
Go to your collection and click on kitty to be sold, say "Yucy".
Click on "sell kitty" And fill the detais like "Start price" , "End price ", "Duration of sale". If kitty remains unsold too long, price of kitty drops.
Confirm and click sell. You can check your kotty in the market. That is it.
- Mention and explain the advantages and disadvantages of the NFT market you have chosen.
Advantages of Cryptokitties
Each kitty represents NFT, so here a user earns in adventurous way.
it is more exciting than other NFT markets because here you can increase value of your NFT by adding cattributes.
it is a peer to peer NFT platform where you directly interact (buy/sell) with user on other side.
it is so easy to access that once logged in, it is available at single click. No complex verification process is needed.
it has interactive and user friendly interface . Categorization of NFT according to different attributes is possible. You can sort out kitties as per price, cool down time or other cattributes.
Diaadvantages of Cryptokitties
it is a market with single category of NFTs available. It is all about different types of Kitties unlike other markets where different types (art , sports, music etc) of NFTs can be explored.
Gas fee is too high. So user base is less.
There is scope for improvement in user interface. Although wide choices are there to choose but not properly arranged on the interface.
Hi @drqamu, Thanks for submitting your homework
Feedback:
you explain well the Cryptokitties and explained well how to buy and sell Nft on Cryptokitties
Rating : 8,5
Thank you very much.