Steemit Crypto Academy Season 2: An Introduction to Non-Fungible Tokens (NFTs) - Homework for @levycore

in SteemitCryptoAcademy3 years ago (edited)

Greetings!, Hello everyone, hope you all are well.



As you know Professor @levycore recently deliver a lecture about the Non-Fungible Tokens (NFTs). He defines the NFTs very well and also gives us very important information about them that is easy to understand. Before his lecture, I do not even know the word NFTs. I am thankful to him that he teaches us about the NFTs coins in a very good manner. Thanks, Professor.

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I chose Rarible the trending platform to sell and buy NFTs but first let's talk about Non-Fungible Tokens that we learned from the lesson.

  • Video Homework


ɪɴᴛʀᴏᴅᴜᴄᴛɪᴏɴ ᴛᴏ ɴᴏɴ-ғᴜɴɢɪʙʟᴇ ᴛᴏᴋᴇɴs

To understand the Non-Fungible Tokens easily let's go through with an example, Suppose that I have 20 USDT and you also have 20 USDT. The value of your 20 USDT is the same as me and my 20 USDT has the same value as yours. This is said to be a Fungible Token as I can exchange these USDT with your local currency or Ethereum and vice versa. So Fungible token has the same values and these are available market in good quantity.

But, if we talk about an asset that is more rare, collectible, and a small amount of it available in the market those tokens are said to be Non-Fungible Tokens. Let's take another example, suppose that there a shop in your city which is purchasing old and rare goods from people at low prices as people thinks that old things are useless and go to but a new one. But after some time when an old thing that the shop purchased from the people becomes rare, they sold it in good profit to someone who knows the value of rare things as it becomes a collectible asset.

The same scenario for an autograph of a celebrity who is died and Its autograph now become collectible and if it is real and original then we take to earn a good profit by it.

I hope you understand the meaning of Non-Fungible in our real-life things. Now let's change our flow towards blockchain. A blockchain named Rarible is one of the most popular projects to buy and sell the NFTs. We are going to elaborate on this project, what is it, how to put NFTs on it, How to create your own NFTs in Rarible, How to sell your collectibles.



ᴡʜᴀᴛ ɪs ʀᴀʀɪʙʟᴇ


5d38803e-b47c-416f-80a2-127948028019.png

It is a trending platform to buy and sell NFTs/collectible and it is secured with blockchain-based on Ethereum. You can buy or sell a digital asset by using Ethereum. There is no embedded wallet in it but you can link your external wallet to it. Here how you can.


  • Step 1: Visit https://rarible.com/ and click on the connect wallet button. You need to log in to buy and sell a collectible on this site. The connection can be made with different Ethereum based listed supported wallets. If you are going to use Metamask then firstly you need to install its extension in your browser and log in or register on it with your private key phrase.

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  • Select a wallet of your choice given in the List. I am using Metamask that I have already configured and it's in running state as my browser extension. You can choose any of your favorite listed wallets. follow these mockups

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  • Now you need to connect your Metamask wallet and authenticate it with the Rarible account. So you can use your Metamask balance in Rariple transactions. You can buy or sell collectibles by using your Metamask balance. If you sell something then you directly get the amount in your Metamask wallet. You can follow these mockup to connect you Metamask with Rarible.

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  • If you are correctly logged in you can see your profile like this. This is your profile that shows your current balance and also it uses to save your collectibles sales and purchases.

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How to buy a Collectible


  • You can buy any digital asset on this website create by different sellers. You can also create your own asset here.
    Let's check how you can buy it. I am going to buy #bois collectible so, click on it It will open the profile of a person who creates these collectibles and also the listed price. Follow these mockups

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  • On the profile, you can see a verification mark its means that the profile belongs to a top trusted seller, and Raribe marks the seller as trusted verified. It's the best option to buy a collectible from a verified user, but also many good sellers are out there there is not any type of fraud in the Rarible blockchain as it's purely based on Ethereum Network.

c84f3f53-6219-4a1b-ac0e-349f7129e737.png


  • Now look for your favorite collectible and click on it to purchase it. If your favorite item is not for sale you can always place a bid to attract the seller to sell it. They're also a history of the top bids.

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  • To but the collectible click on the 'Buy now button. You can always check the history of this item sale and also the bids if it is listed as not for sale. In the very next step of payment, verification makes sure that you have enough balance to cover the item price and the transaction fee. I have 0 balance that's why my transaction is not able to get successful.

4b5a098e-2c30-44e9-8abd-245034f1e828.png

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How to check your Collectibles


  • All your items are saved in your profile. In order to check them click on your profile icon and click on the 'My Items' option.
  • 80812ee3-93b2-4b16-9502-980565326b98.png


    • You can see all your collectibles here in the profile of your Raribel account. You can also manage your sale also if you have created any collectible then it will show in the 'Created' tab. They're also an option on items to add in favorite. So, the favorite is for it. You can also follow a seller and it will be saved in your profile Followers tab.

    69ea8d4b-d139-4a51-9408-e661a0dde985.png


    How to create and sell Collectibles


    • You can also create your own collectible in Rarible. In order to create a collectible, you need to log in to your account prop[erly and click on the 'Create' button as shown in this mockup.

    b49a5f3b-e756-4ea0-95c6-2c8e1d0440af.png


    • In the very next step you get to option one is Single and the other one is Multiple. I order to sell a single or create a single collectible you need to click on Single otherwise you can go for the Multiple. I am going for the Single.

    4ce5a16f-9a60-4782-9f13-f3507d1451e9.png


    • In the next step, you need to upload your created file in supported extensions. File must be less than or equal to 30MB.

    5debd557-5713-4e78-a737-6175203f4a51.png


    • Give it a unique name and add some description and you can specify the size of your file in height width. Then click on 'Create' in order to create your collectible.

    4132a71a-78f8-4ee9-8bbe-d10134d44ffb.png


    • In the next step you need to approve the transaction. It requests to pay some gas fee in Ethereum. I have nothing in my account so, this result to cancel the transaction.

    2ef6635f-776e-4397-b25f-64cfd6739863.png

    ᴄᴏɴᴄʟᴜsɪᴏɴ

    We go through all the procedures from buying a Collectible to create and sell your own. Rarible allows you to purchase any collectible asset by using your Ethereum balance in a secure way. You can so create your own asset by paying a little gas fee. There also many verified sellers out there, you can follow them and you will be notified when a new collectible is added by your favorite seller. We cover all the deep concepts of this platform. hope you will get it or you can watch the video to get through it quickly.


    Social Account Link
    Twitter https://twitter.com/rariblecom
    Discord https://discord.com/invite/53Hu8jsVSb
    Facebook https://www.facebook.com/rarible/
    Instagram https://www.instagram.com/rariblecom/
    Reddit https://www.reddit.com/r/Rarible/

    ▀▄▀▄▀▄ Respected Professor ▄▀▄▀▄▀


    @levycore

    🅱🅴🆂🆃 🆁🅴🅶🅰🆁🅳🆂


    @faisalamin

    T̳̿͟͞h̳̿͟͞a̳̿͟͞n̳̿͟͞k̳̿͟͞s̳̿͟͞ ̳̿͟͞f̳̿͟͞o̳̿͟͞r̳̿͟͞ ̳̿͟͞R̳̿͟͞e̳̿͟͞a̳̿͟͞d̳̿͟͞i̳̿͟͞n̳̿͟͞g̳̿͟͞


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    Hi @faisalamin, thank for submitting your homework

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    Well explained along with the howto process.

    Rating : 8

    @steemcurator01
    @steemcurator02 my homework not rewarded

    krdy wa gul 🤣🤣🤣🤣

    sbr rukh roon q lga 🤣🤣. pajy ga vote

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