Does it Cost Money to Change NFT Price

And again, it’s better to be verified, your art will be visible immediately on the main page after decreasing the price

You don’t have to burn the token, you can just cancel sale and then put the art on sale again with new price. I didn’t try yet it so I don’t know if it cost money.

Oohh! My bad, for some reason I have it in my head that a cancel is the same as burn!

So does this mean then that if I ‘cancel’ the sale the token stays the same and I can change the listing name/details/phot/price? If that’s correct that would be awesome!

I think you can change only price, but again I have no experience with it yet :slight_smile:

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Unfortunately, we can only change the price to decrease. Everything else is permanent, even things such as the category (Art, Music, Memes, etc.).

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Yeah that’s my belief also - that everything is permanent and baked in (great that we all seem to be learning this together :slight_smile: )

But it does clearly say on the ‘change price’ option that “If you want increase [sic] price, you should cancel then create sale with new price” so some clarification would be good. I’m not in a position yet to cancel a sale and see it all go awry if there is confusion but I’m happy to try it in a week or so and feed back to the forum what happens (with cancel sale to increase price ‘what if?’

That wording with “create” involved sounds like you have to re-mint the piece…
Go ahead and try it out though, when you can! And please tell us the results. :relaxed:

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I’m almost sure you have to burn the token and re-mint it to increase the price, so be extremely cautious @SMARTPopArtist


My NFT here and my profile here
I always follow for follow, even on instagram where you can see my other pieces and my painting process.

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Well spotted my coffee-loving friend :slight_smile:

I actually have a story there for you - I have, in the past, done ads on Facebook for my artwork/art business (you can probs see how much of my life is ‘what ifs?’ right there) and I’d occasionally get some nutter feel the need to comment “huh, my three-year old daughter can paint better than that” and I’m all like “really? You should see the work I do before I’ve had coffee in the morning, maybe we could have a joint exhibition!” :joy:

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You don’t have to :slight_smile:

Thanks Sheraton; I believe I have read that somewhere but it can be confusing if the word ‘cancel’ is used when meaning ‘burn’. If I give myself a week to try and learn what the case is then I’ll ‘cancel’ if I don’t find anything :slight_smile:

Yeah there does seem confusion around the ‘cancel’ meaning here yeah?

cancel means burn then? :smiley: no way I thought it means “destroy forever”

Yeah - I don’t know :slight_smile:

I think that’s what we’re trying to suss - “does ‘cancel’ mean ‘burn’?”

As I’m going to be loading more of my art on to the platform soon then my tee (first NFT) experiment can be ‘burnt’ to find out if that’s what is meant by ‘cancel’. Unless we find out first

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oooh that’s a good news! Is there’s a fee to resale the token? Or are we limited to bidding then?


My NFT here and my profile here
I always follow for follow, even on instagram where you can see my other pieces and my painting process.

that’s some good thinking right there

It will cost money if u cancel

Hey MixedMedia69, thanks for adding to the discussion :slight_smile:

Do you mean you will be charged extra to cancel a sale? Or, do you mean you won’t get your money back if you cancel a sale (which is not under debate by the way as it is assumed that would be the case)?

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Canceling a sale costs money via gas fees for miners. It’s another transaction to cancel a different transaction. Sounds dumb but it is what it is.

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Hey there , im still learning as well , i discover about that once i lower the price on one of my token and try to raise again and couldnt do it , so i was about to cancel then the fees pop up .
So basically u would loose twice , once u put for sale and cancel fees .