Crypto Academy Week 12 - Homework Post for [@levycore]-Selling and Buying NFT

masumrbd (66)Beginner[2]in SteemitCryptoAcademy • 3 years ago

^{Designed by @masumrbd}

First of all, thank you to Professor @levycore for teaching me how to buy and sell NFT so beautifully. The professor has used the Opensea marketplace here. But I will try to show you how to buy and sell NFT in another marketplace named Rarible. So let's get started:

Rarible Marketpalce (NFT) :

Rarible is the best and safest decentralized marketplace for NFT buy or sell. Every day many users trade NFT's here. Users can easily sell their NFT's here without any hassle. In 2020 the marketplace trading volume was $24M + and 100K+ unique items were minted which is a good aspect. The numbers are increasing day by day.

The reasons behind choosing this market:

It ranks first in the worldwide NFT marketplace ranking, so trading in it is the safest. That is why I have chosen this market.
This market is trusted and in 2020 unique buyers and sellers were 29K+ which is 2020 is undoubtedly a good thing.

Buying NFT in Rarible marketplace:

First, go to https://rarible.com/ this website and click Connect wallet. You will see a new window.

After that, you will see different wallet options available to you. Choose anyone of the. I choose Metamask.

Input your Metamask password and click Unlock.

Then click Next to proceed further.

Click Conncet this time.

Agree on Rarible terms and conditions and tick on both empty boxes then click Proceed now you are connected to your wallet.

Choose any NFT you want to buy. I choose this one.

Now, click to Buy this NFT

You will see this checkout message it shows service fees, total fees you have to pay. Click Proceed to paymentto buy the NFT. In my case, I have no ETH in my wallet. You can try these steps to buy your NFT.

Selling NFT to Rarible marketplace:

I have already connected my Metamask wallet and show you during NFT buying time. That's why I will go directly to the point. After go to https://rarible.com/ site click the Create option which is available in the top right corner of the site.

You will get two options Single or Multiple. I choose Single.

Then you will get the uploading option. Currently, you can upload PNG, GIF, WEBP, MP4, or MP3.

Then you have to select your auction option. You will have three options Fixed price, Timed auction, and Unlimited auction. I choose Timed auction and set my minimum bid 0.2 ETH you can set yours.

Then set Title, Description, and Royalties and Create item.

You will see this message.

Currently, I have insufficient funds which's why I am unable to create my item. But you can try with

Advantages of the Rarible market:

This is the worldwide top NFT marketplace so lots of unique visitors and mints are available in this marketplace.
Rarible provides both active buyers and sellers their own currency RARI.
The procedure of buy and sell NFT's in Rarible market is very easy.
There is no need for KYC to buy NFT's.
The market is decentralized.

Disdvantages of the Rarible market:

Rarible is based on Ethereum Blockchain which's why the gas fee is high.
The website's server is slow. To browse there you need a high-speed internet connection.

Conclusion:

NFT's are becoming more popular day by day. So it is very important to know this lesson. In the lesson we learned how to buy and sell NFT's. The lesson was taught in Opensea Market and I showed how to buy or sell homework task on a Reliable site, meaning I was able to learn about two markets.