Applicable Scope
This guide applies to Gate Web
Before you start: Ensure you own NFT assets in your Gate NFT account
Estimated time: 5 m
Objective
This guide will walk you through how to sell your NFT works and configure the selling method (fixed-price or auction) on Gate Web.
Steps
Step 1: Access My Assets Page
Navigate to the Gate NFT homepage and click "My Assets".
Step 2: Select the NFT Asset to Sell
On the My Assets page, click the NFT asset you intend to sell.
Step 3: Enter Selling Mode
- Click the selected asset to enter the NFT asset details page.
- Click the "Sell" button.
Step 4: Choose Your Selling Method
Select between two selling methods:
- Fixed-price Sell: Sell NFT assets at a predetermined fixed price
- Auction: Put up the NFT assets for auction, where the highest bidder becomes the final buyer
Option A: Fixed-Price Sell Configuration
- Click the "Fixed-price Sell" button on the listing configuration page.
- Select your preferred payment currency from the drop-down list.
- Enter the selling price.
- Set the listing start time and delisting end time.
- Click "Are you sure to list it?" to list the asset.
Option B: Auction Configuration
- Click the "Auction" option on the listing configuration page.
- Choose your preferred payment currency from the drop-down list.
- Enter the starting price.
- Set the listing start time and delisting end time.
- Configure auction parameters:
- Reserve price (optional): Minimum acceptable bid amount
- Price increment: Minimum price increase required for each new bid
- Extension period: Select whether to enable automatic time extension
- Click "Are you sure to list it?" to list the asset.
Step 5: View Your Listed NFT
After the asset is listed, navigate to the asset details page to view and manage your listed NFTs.
Notes
- As an NFT creator, you can continue to receive royalties from secondary market resales of your products.
- Various cryptocurrencies are supported as payment methods for NFT sales.
- When using the auction method:
- The bidder's margin will be locked when making the first bid to cover potential losses if the successful bidder fails to complete payment.
- If a reserve price is set and the highest bid is lower than this price, the auction will fail and no transaction will occur.
- If no reserve price is set, the asset will be sold to the highest bidder regardless of the bid amount.
- The extension period (3 minutes each time) means that if a bid is made within 3 minutes before the auction ends, the bidding time will be extended by 3 minutes. This continues until no new bids are made.
FAQ
Q1: What is the difference between reserve price and starting price in an auction?
A: The starting price is the minimum initial bid amount required to participate in the auction. The reserve price is the minimum acceptable final price; if the highest bid doesn't meet the reserve price, the auction fails and no sale occurs. The reserve price is optional and not visible to bidders.
Q2: Can I cancel or modify my listing after it's published?
A: You can manage your listings through the asset details page. However, specific cancellation and modification policies may vary depending on whether bids have been placed. Please check the current listing status and available options on your NFT asset details page.
Q3: How are royalties calculated for secondary sales?
A: Royalty rates are typically set when you first create or mint the NFT. These rates determine what percentage of each resale price you receive as the original creator. The specific royalty percentage and payment method can be viewed in your NFT creation settings.
Disclaimer
The content provided herein is for reference and educational purposes only and does not constitute any financial, investment, trading, or legal advice, nor does it constitute an offer or solicitation to buy or sell any digital assets. Gate makes no express or implied representations or warranties regarding the accuracy, completeness, or timeliness of the information contained herein. Product features, interfaces, rules, and fee structures may be updated or adjusted at any time. Please refer to the latest announcements and the actual information displayed on the Gate platform for the most accurate details.
Digital asset investments involve significant risk, and prices may fluctuate substantially. You may lose the entire amount of your investment. Please make decisions cautiously based on your own financial situation and risk tolerance after fully understanding the associated risks. If necessary, you are advised to consult an independent professional financial or legal advisor.
For more information about potential risks, please refer to Gate's Risk Disclosure and User Agreement.
