How to put an NFT on Auction - Tutorial
Briefing - What is this tutorial all about?
If you're new to the world of NFTs, you will definitely come across theoretical and also practical challenges. This tutorial will give you a brief intro in how you can put your NFTs on Auction.
Relevance - Why do I need this tutorial?
NFTs are probably the hottest tech features in 2022 and our Sqwid dApp built on Reef is an amazing place to publish your NFT collection for a very low minting cost (compared to legacy Ethereum or other layer 1 blockchains in the space).
See our blockchain comparison chart below:
See our NFT marketplace comparison chart below:
Prerequisites - What do I need to get started?
- Reef chain extension
- Reef extension account for Mainnet
- Bind EVM address here.
- An NFT on Sqwid
🚀 Getting started - we are ready to go!
Step1: Visit the Sqwid dApp on https://sqwid.app/
Step2: If you have a Reef EVM account with a balance on Mainnet, connect to the Sqwid dApp.
Click on Connect in the top right corner. You will see a dropdown list just like me. Now you can choose your Mainnet account and make sure you choose Mainnet in the tiny dropdown within the list.
Step3: We successfully connected our Reef Mainnet account
As you can see I got some REEF on Mainnet, more than enough to perform some transactions on Sqwid. You can now hit View Profile on the top right and check out your individual space. Nothing there yet? Let's dive into it!
Step4: Click on the NFT in Available Items
This is the overview page of our NFT. You can see all the respective data to it. In the bottom left corner you can see Available. These are all the options available for you to perform on your NFT.
Today we want to put this NFT on Auction, so let us click Create Auction.
Step5: Enter the respective data for NFT Sale & click Submit
Now the Sqwid marketplace is requesting some data: Minimum Bid, Number of copies & Number of Minutes. In addition we see information about Service Fees, which are 2.5%.
Now all the data is inserted. The Number of Minutes field will show the duration below the input. In our example, the Auction will last for 6 days, 22 hours, and 40 minutes.
Step6: Click Create Auction and sign the transaction
Step7: Check the status of your transaction
You can see another option now in the bottom left corner which is called Auction. You can also see the Deadline (7 days) and the Minimum Bid we specified.
Step8: Click Auctions to see if your NFT is properly listed
There we go! The NFT is successfully listed in Auctions. You can see the Deadline displayed on top of the preview.
Step9: Select your NFT again
Step10: Enjoy more features on the Sqwid marketplace
Congrats on your first NFT Auction! Now you're set up and ready to Put on Sale, Create Loan Proposal, or Create Raffle.
We are going to look at these features in the next videos. Stay tuned!
Debriefing - What are the most important takeaways from this tutorial?
What's next?
Check out more tutorials about the Reef ecosystem here on our blog and stay tuned for more detailed videos on sales, loans, and raffles on the Sqwid dApp.