How to Price My NFT on Gate.io
Cryptocurrency exchange Gate.io recently announced it has topped a record 10 million users worldwide. Now we will answer the question, 'how to price my NFT on Gate.io'.
In June 2021, the company added NFT Magic Box to its portfolio. It’s a project that enables its users to create and trade non-fungible tokens.
How to Price My NFT on Gate.io - Getting Started
One will need a verified account to start trading on the NFT marketplace at Gate.io. The user only needs a name, email address, and password. After the user submits a personal document for identity confirmation, the account becomes verified.
On a homepage dashboard, the user needs to go to the ‘NFT BOX’ field, where a dropdown menu with numerous options can be found.
The user then selects the ‘NFT Markets’ section to delve into the given market available on the platform. The portfolio includes some famous brands, such as Bored Yacht Ape Club, mystery boxes, Meta Dogs, and others.
If a user, for example, wants to buy a certain token but cannot find it after scrolling, it's important the remember the so-called 'heart' option where the user clicks the outlined heart in the right corner of each widget to 'like' the NFT.
‘Liking’ the NFT will store it within ‘My Favourites’ and, if needed, be ‘added to collection’.
How to Price My NFT on gate.io When There is No Sale Price?
If you found an NFT that you like, but the price of this digital item isn’t available (or visible), it usually means that the asset is not listed and that the owner doesn't intend to sell it. However, there is an option you could still own it, and it comes in the form of the 'Offer' button.
As you click the tab, you can put your offer – the amount you are ready to pay for the certain non-fungible token you want to possess. After you input the ready amount, you set the duration of time you are prepared to wait, in case the owner (or the creator) changes their mind. The owner can then either accept or reject your offer.
If the offer is rejected, then it usually means the person who has it doesn't have the intention to sell it. Still, if the owner accepts the offer – the transaction will be automatically executed.
However, there are situations where a certain piece has an assigned price, but that can only mean that the owner is ready to sell. If you are the interested buyer, you will be presented with two options - 'offer' and 'purchase'.
If you decide to purchase, this will mean you are accepting the given price. However, if you choose to make an offer, you can also suggest a lower price. In the situation where other bidders don't offer higher amounts - the seller can choose to sell the piece to you.
It's very much like other web-based bid services, such as eBay, where placing a bid is typically most common in the event you're in a bidding war with other bidders. Either way - the highest bid wins.
Author: Teuta Franjkovic
A sincere writer with a strong will to share knowledge on all things blockchain, crypto, metaverse and DeFi. Starting out as a writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing newspapers and websites within the fintech industry for over 15 years. She holds a double MA in Public Politics and Entrepreneurship.