Niftyzone Marketplace FAQ

What are NFTs?

Non-fungible tokens (NFTs) are unique digital assets ranging from artworks to collectibles. NFT artists/creators have full autonomy over their works as their actual ownership is validated and secured on the blockchain. This ensures that each digital asset is unique to the artist/creator.

What does minting an NFT mean?

Minting or creating an NFT essentially means that you are publishing your work onto the blockchain and tokenising it.

How to create your first NFT?

(Article on steps to create NFT on niftyzone marketplace)

How to set up Metamask for BNB chain NFTs?

Check out our editorial detailing the process of setting up Metamask for BNB chain NFTs. (link to existing editorial)

What are gas fees?

Gas fees are transaction fees paid to validators on BNB chain. Niftyzone does not receive or profit from these fees and are unable to refund them. Gas prices are dependant on the amount of transactions on the BNB chain network and Niftyzone does not control gas prices.

What is the difference between BEP1155 and BEP721 marketplaces?

Check out our editorial which covers the different between BEP1155 and BEP721 NFTs. (link to existing editorial)

What is the royalty system and how does it work?

The royalty system allows for original creator/artist of the NFTs to receive a royalty from the secondary sales of their item. Example: You create a digital artwork and set a royalty of 10% on it. You managed to sell the artwork for 0.5BNB on our marketplace. Subsequently, your buyer sells your artwork for a higher price at 1BNB. In this case, the royalty system is activated and you being the original creator of the artwork would receive 10% of that sale, being 0.1BNB.

What is verification?

Verified badges are given to authentic creators/collections that showcase active and consistent commitment to our marketplace. Factors such as number of minted and sold items as well as social media presence will be considered for verification.

Can I create/mint an NFT on Niftyzone and not put it up for sale?

Yes, you can mint the your NFT without listing it for sale on our marketplace. It is up to you if you want to put the item up for sale or not.

Can I delist or update the price of my NFTs after I have already listed it for sale?

Yes, you have the option to update the price or delist your NFT at any time on your asset page. To delist or update the price of your NFTs, you will need to sign a verification request via your wallet.

November 02, 2022