Looking for some more information (That doesn't seem covered by the "How it works" section)

Hi everyone! First thank you for taking the time to read this post from a confused fool.

I’m messaging here today to find some specifics when putting an NFT on the market place? I’m looking for detailed information on the nuances between, Fixed Price, Timed Auction, and Unlimited auction and how they all specifically work? A link would be great as I could stop bothering people and just go read it. I’ve checked the main Rarible site, and unless I missed it, the FAQ doesn’t really answer my questions.

With all the glitches and everything people keep bringing up … Things going wrong as people try to mint art it has me really paranoid about losing money and not getting any help or even getting it back… From the posts in this forum it looks like the support is basically non-existent. I hope that is not true…

Here goes…

Why won’t it allow me to edit my site address in my profile? I get an error, “not an alphanum”. It was suggested i choose a random one to make it work initially and that worked fine, but now it won’t let me change it back to my desired title.

If I choose not to put it on the marketplace right now, can I do so later, with that same minted NFT? By maybe simply editing it? Sort of like the profile?

Can I only choose one option from Fixed, Timed, or Unlimited? For example, can I set a fixed price but also go over to timed and then set that as well so people can bid possibly over it? Like on eBay, you can set a high fixed price, but then also see where the bids take it. Also, generally speaking- can I refuse bids for timed and unlimited auctions? For example, if I chose timed, am I stuck with whatever bid it lands on when the time runs out?

For choose collection, there is ERC-721 and Rari. I don’t really understand the difference. Although I see that I can create a “collection” with one.

That’s it. Thanks for helping me out and if you have a link and want to avoid explaining things instead that’s also very helpful to me.

Thank you and my apologies if I missed the information myself. Anyway, I did spend a bit of time today scouring Google, reddit and searching for info on this and couldn’t really find anything. Which, is why I’m here now. Also, I would just mint one and see for myself but I don’t have a lot of money and I’m afraid to waste it. Thanks again for your patience and help.

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Hi @MykilFrenetic,

ok, it’s dense, I’m going to try to answer all your questions :slight_smile:

  • Fixed Price means that you set a selling price. If someone pay it, the NFT is automatically sold. The buyer pay the ges fees related to the transaction.

  • Unlimited Auctions means that you never set a selling price. A potential buyer may place a bid that you accept or not. If you accept it, you’ll pay the gas fees. You can’t set a basic price for Unlimited Auctions.

  • Times Auctions means you set a minimum price for a bid for a limited duration of time. If a buyer place the minimum bid you set, the NFT will be forcibly sold at this price at the end of the time you set. So don’t put a low initial price. As it’s a bid, you’ll pay the gas fees at the end of the auctions.

  • Saving Adress in the profile : it’s a bug. You can try to fix it by using a PC, changing browser (Mozilla Firefox is preferred), empty your cache or a combination of those.

Yes, but for Times Auctions, it must be a single NFT. Times auctions doesn’t work with multiple NFTs.

You can’t “edit” it, but you click on the three dots and a menu appears.

Yes.

No! If a buyer pay the selling price, it’s sold. No overbid possible.

These are two different things. For timed auctions, you’re forced to sell at the last bidding price. For unlimited auctions, you can just ignore a bid.

You got it right!

Whoah there’s a change! It should be ERC-1155 and Rari like for “multiple”. Need to clear that out.
ERC-721 and ERC-1155 are very different technologies. However, if you’re not a professionnal with a big visibility, ERC-721 is largely enough. Creating a collection will cost you a lot for nothing without a fan base of buyers.

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What kind of art do you want to mint?

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What is the format of your digital file? :slight_smile:

It’s a nice project by the way.

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Hey guys, just found this very useful. Could you please explain about the cost of minting multiple copies? Will I pay 10 times the gas fee for minting 10 copies of the same NFT?

You’re saying minting a collection isn’t worth it until you’re sure enough buyers will take them, but I’m not sure whether you refer to a collection as multiple NFTs that are unique yet part of the same series, or if indeed you mean multiple copies of the same original NFT?

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Hi @blackwood-1984

No you’ll pay once only.
Collections are another topic unrelated to the number of copies you mint.

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Oh, great! Thank you for clearing that up.

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Thank you @Sheratan for all your explanations, because I was also wondering some of his questions. Really since my arrival on this platform I find that you are a person who is the driving force of this community. Thank you for all this time spent and this kindness!
:pray: :hugs: :100: :+1:

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Hey Sheratan, wanna thank you again for answering my questions.

I got a bit manic a week ago or so and started deleting all of my comments all over the Internet…, mainly due to weird social paranoias and powerful but false narratives in my head that got the best of me… In fact, I still have them a little bit.

But, I wanted to come back and leave this last comment to make sure I express that I appreciate your responses. Since others find this helpful, I’ll try and not delete this one in another few weeks when the brain gremlins attack again. :crazy_face:

Thank you! :facepunch: :heart:

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Hi @MykilFrenetic,

Well, We can’t always control what’s happening in our brain.

I can only say that you must try to put your thoughts above your emotions so as to tame paranoia :slight_smile: but it’s easier to say than to do.

You’re welcome, my pleasure to help :slight_smile:

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Glad you handle these questions lol I’m still waiting to be verified

Hi @Sheratan, I am very new to Rarible and I have just minted my first two paintings! I wanted to thank you for taking the time to answer @MykilFrenetic questions because it helped me immensely!!! You answered so many questions that I was struggling with and I will be forever grateful. Following and Love your artwork!
Cheers,
Dawn
Burning Easel

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Hi and welcome among us, @BurningEasel

I’m very pleased to be helpful and glad you could mint your paintings, which I can’t wait to see if you share a link :blush:

I wish you the best here, Dawn :four_leaf_clover:

Thank you for your welcome, @Sheratan. My link is…https://rarible.com/burningeasel
Cheers,
Dawn

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Hi @Sheratan such good advice from you and v useful.
I have minted my first three pieces, which is exciting! But I set them at a fixed price - would I be better to go for an auction as a newcomer? I’m not in a hurry to sell but wonder if I would get more visibility if I sold with an auction.
Many thanks, Karen

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Hi and welcome among us @karen, :blush:

No you we’re right to put a selling price because if you accept a bid, you will pay the gas fees inherent to the transaction. When you sell, the buyer pays those gas fees.

Moreover for live auctions, as you’re not verified, you’ll be almost invisible. So unless you have a strong community in the real art world, begin with selling. :wink:

I wish you the best here :four_leaf_clover:

Thanks so much @Sheratan v helpful.

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@Sheratan You are a lifesaver, i am totally new to this platform just waiting to Mint my first artwork in here,
I was looking for these answers for a really long time and you answered it all and in details :slightly_smiling_face:

:+1: thanks again and much love

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Hi and welcome among us @arkriddoodle

It’s a pleasure to help :blush:

I wish you the best here :bouquet:

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