In order for people to advertise their own NFTs for sale, a blockchain marketplace will be established and made available. Complete NFT/post details (like description and other attributes), as well as historical details (like the owner of the post and past transitions), must be listed on the description page.
Each NFT token can be listed for sale on the custom marketplace for other users to purchase against a custom token (ERC 20). Any user can purchase this NFT by paying the exact number of tokens the seller has asked for or bidding directly to the creator. The bids received by the creator will not be revealed to other users on the platform unless the creator chooses to make that information visible to all. Once the seller receives an offer that they find reasonable, they can accept it directly and close the sale.
Users who wish to interact with the application must have a crypto wallet with an ETH balance available to pay the gas or transaction fee.
Buyers looking to purchase an NFT available on the marketplace must have the required balance in the same currency listed for that NFT. In addition, they will need to have some ETH in their wallet to pay the gas fee.
Sellers will be able to adjust the selling price based on users’ reactions or modify/cancel their listing at any time before the sale is processed.
Sellers who want to put their NFT tokens up for sale need to select either USDT, ETH, or the custom ERC 20 (which we will be building) as the base currency for the selling price.