Crypto Academy Week 12 - Homework Post for @levycore

in hive-108451 •  4 years ago  (edited)

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Hello, good evening Professor and everyone the #steemitcryptoacademy class.My name is @awuahbenjamin from Ghana. This is my first time of joining your class and I must say, I've really learnt a lot. With no idea about NFT, by your step by step and detailed digesting of the topic in question has really enlightened me.

Today's lesson has really helped me to understand how we can buy and sell NFT in Opensea Market site.
Now in going straight to my task for the above lesson

Select the NFT market that you want to try to sell and buy NFTs and why did you choose this market

We have so many market places where we can sell and buy NFT.

  • Opensea
  • SuperFarm
  • Rarible
  • Ethernity
    etc.
    But for the purpose of the this lesson, I would prefer to use Rarible

WHAT IS RARIBLE

The Rarible platform was launched in early 2020 as an open-source marketplace for the minting, buying, and selling of non-fungible token collectibles. The marketplace is not restricted and can be accessed by anyone who wishes to use it. Art pieces can easily be created without any coding knowledge and users are also able to purchase the digital art pieces they like.

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How to Buy NFT using Rarible

  1. open https://rarible.com/ on your web browser
    screenshot-nimbus-capture-2021.05.08-20_09_07.png
  • Click on connect with MetaMask

screenshot-nimbus-capture-2021.05.08-20_10_56.png

  • After successfully connecting with MetaMask, you now select which NFT you want purchase or buy.

screenshot-nimbus-capture-2021.05.08-20_16_43.png

Now up to this point you continue to proceed if you are enough balance in your Eth wallet.,As you can see I don't have enough balance so I can't proceed payment.
screenshot-nimbus-capture-2021.05.08-20_18_39.png

How to Sell NFT Using Rarible.

Answer With Screenshot Illustration.
Selling NFT on Rarible is quite the same as buying, but this one you need to create your own NFT.

screenshot-nimbus-capture-2021.05.08-20_27_18.png

You Can decide to choose between Single or Multiple, I am going in for single just as we can see from the above picture.
You are to upload a picture or GIF with a maximum capacity of 30mb.
screenshot-nimbus-capture-2021.05.08-20_32_52.png

I have uploaded my picture.

screenshot-nimbus-capture-2021.05.08-20_40_51.png

Now just as we saw a price on the item we bought, you also have to select your price for the picture uploaded so people can know the price of NFT. I have set the price as at 0.1ETH.

screenshot-nimbus-capture-2021.05.08-20_51_06.png
Now You just have describe the item for easy identification buyers..

screenshot-nimbus-capture-2021.05.08-20_56_27.png

Upon setting up all the relevant details, you then proceed to click on create.

screenshot-nimbus-capture-2021.05.08-21_02_23.png

Since you've already connected your MetaMask to your ETH, MetaMask will calculate for the price In ETH wallet.

screenshot-nimbus-capture-2021.05.08-21_04_31.png

Just as the picture portrays that, I have insufficient balance, I can no longer continue unless otherwise I load my wallet.

Mention and explain the advantages and disadvantages of the NFT market you have chosen

Advantages

  • Open-source codebase
  • Non-custodial marketplace. This market is open to all
  • Create and mint digital tokens without coding knowledge..Rarible is very easy to use among other market places.
  • Peer-to-peer trading NFTs with low costs. Rarible among the many NFT market places has low deduction and you can easily sell without burden charges.

DISADVANTAGES

  • Wash trading can allow bad actors to unfairly access RARI tokens
  • There is no whitepaper or roadmap indicating the future direction of the project
  • Only supports tokens of Ethereum blockchain network.

CONCLUSION

The world is indeed transforming and with the introduction of NFT which seems to be taken over the market, I really do appreciate your step by step presentation of the lectures, Someone with no knowledge about NFT, now I can sell and buy using Rarible and other market places to trade at a ease. I hope next lecture will also bring something new to me.
Thank you professor @levycore.

Submitted by @awuahbenjamin.

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Hi @awuahbenjamin, thank for submitting your homework

Feedback: you have explained well how to buy and sell nft on RARIBLE marketplace.

Rating : 7

Thank you professor for reviewing my work … I hope to do better in the next task