HOW TO BUY POLYGON ASSETS – PART 8
It is slightly better than MetaMask. Hopefully, now, you get the idea. There’s a lot more to this tool. Many other markets that we can explore. Lots of different blockchains even have NFTs like Tezos, Algorand, and a lot of others. But this gives you how you operate with each of these different markets. This guide is about the two prime blockchains where you can buy NFT in three places on the Ethereum Blockchain: Immutable, Ethereum main net, and Polygon. That gives you an idea of where you can start with the space where you feel most comfortable and where your budget allows you to get in the way that makes the most sense for you. We introduce a bit of the different collections you can buy on the various platforms like Ethereum, Polygon, Immutable, and Solana. Now, let’s talk about the different NFTs you can buy. Specifically, let’s talk about the one-of-a-kind, NFT Art. So what’s precisely those one-of-a-kind NFT Art mean? We have collections within collections like CryptoPunks in Curious Addys and all the different types of NFT projects. Technically, every piece is unique, but they all share a similar theme. You know, the CryptoPunks is CryptoPunks, the Bored Ape is Bored Ape, and Curious Addy is Curious Addy. But there is another kind of art that makes us more careful with our ordinary concept of art in the real world. It’s one-of-a-kind, which means art that is unique to just one of that pieces. There are several different platforms where you can buy this. The mechanics are the same, so we can go through this section faster than we did in the previous one. I’ll show you some prime platforms so you can buy this stuff and how to execute strategies. We’ll get more methods in the next section, but I’ll tell you some basic things. One of the primary places where we can buy art is the foundation.app
It is a semi-curated platform. foundation.app is a mix of a completely open platform, for example, an opensea.io
People also sell unique art on platforms like makerslace.com
These are all platforms also rather attractive but a bit looser than the foundation.app
On Foundation, you need to get an invite directly from another creator who sold the piece. That’s how they try to expand the Foundation, but keep the quality high. Because only artists who have always sold the piece can invite other artists, and presumably, who they invite are of the same caliber or the same quality as long as there are pieces, so hopefully, they will be able to sell artwork. That is their idea. I go to my profile. I just spent hundreds of thousands of dollars to buy one-of-a-kind artwork. I owned a hundred pieces in the main account. I paid $4,400 for this piece. I have some other pieces of art here. I pay more for this piece. His name is Nicholas Sassoon. He is one of the most modern artists of modernistic art. He has a collection, and it’s an exhibit in the largest museum for modern contemporary art in Europe. He was one of the first players in the NFTs space, so his art has gone for quite a bit of money. It is a piece of art for $16,000, 4 ETH.
It’s an animation. Thus, you are not only selling images but also selling any media as an NFT. In this case, he sold an animation. A lot of pieces I buy are animations. It was also an animation. Let’s go through here and pick my favorite artist. His name is Sensory.
If he has any good pieces that we can buy. He got one piece for sale. We see a lot of these old pieces. Here, we go ahead and buy his new pieces. It’s called ‘Lost’
We go here. How do we go ahead and place a bid? First, you connect your wallet.
Let’s pretend I am starting this from scratch and use a new wallet that I have not used before.
So, I go to account six. It is kind of my new wallet, where I do all the stuff, and if I refresh this page. But you don’t have a connected wallet. We need to connect first. Let’s disconnect my other wallet on here. I go to my ‘Trezor 1’ and remove this connected site.
Now it tells me to connect the account because I don’t think you connected anymore.
The first step, you may be used to by now. Connect your Metamask wallet.
It shows you can use MetaMask, or wallet connect is now the technology that allows you to connect to many different app wallets.
Now we just used Metamask. That’s great. It allows you to sign in. Perfect. I signed into this account if I wanted to buy these wonderful animation fees. Nicholas Sassoon was the one who told me about this, and I started buying his pieces. Before I realized it, he was a great artist.
Now let’s buy this piece. One of my favorite artists is named ‘Sensory’. We see it currently priced at 0.3 ETH. $1,254. That seems like a lot of money. But I think this is one of the earliest pieces in the NFT world. It’ll go up a lot as an earliest NFT artist if NFT art goes up. Thus, one-of-a-kind art makes more money than a collection of NFT works, and it is one of the cheaper ones. The cheapest they let you sell on Foundations is 0.1 ETH. About $450 because it takes a lot of time to make this dissimilar in CryptoPunks and the other collection piece, it is not just randomly generated. It is not just one kind of algorithmic thing that’s creating 10,000 of these. It is one authentic person making a real piece of art. That takes a lot of time, like someone painting the Van Gogh piece or the Mona Lisa piece. Those things take longer, so you can expect they are worth a lot more money and may go up a lot more funds in the future. Let’s place a bid and see how the system works when you bid on these pieces.
You’re not to buy one because they think this is worth a lot of money. These are pieces just like if you go to an auction house like Christie’s or Sodtheby’s. They just let you buy for the amount of money the person starts bidding at. You have to start the bid, and then you have 24 hours in which someone else can decide. Once I start this, it’s going to create 24 hours auction for the artwork.
Then when the bid is placed, it cannot be withdrawn.
I guarantee that if I’m going to start this, I’m going to pull up 0.3 ETH on this to buy this piece, and if no else bids more than me, then I have to pay them 0.3 ETH like an authentic auction in real life.
Now, I’ll stop the max fee maybe a little bit lower, maybe 130.
Place a bid, and it shows ‘Your bid has been submitted’
I wait for a moment. I can go to the Etherscan.
We can see if that transaction executes, and it will be pretty soon because we see gas falling to 131 Gwei.
After that occurs, what it does is start 24 hours auction. Anyone can bid and sell and try to raise the price of this piece to see where it ends up.
You see many of these pieces don’t have their original price. Several bidding happens on these pieces.
We look at some of the other pieces over time and find that other people charge more money than the original.
It is a piece I won two months ago in September. But it had a bidding war.
want this piece. Thus, I bet on it, and they also bet on it again. A quick note on Foundation to prevent you from snipping pieces at the last second it will extend the auction because it’s about to end anytime in the final 15 minutes. Something you keep in mind when making these bids and trying to get one of those pieces. Let me show you some of the other major platforms. As I told you, there is OpenSea and MakersPlace. On these platforms, you need to be careful not to get scammed.
For example, many people put fake artwork on here and pretend there’s a piece of art, then try to sell it. If it is fake, you will lose a lot of money because it is not an authentic NFT. NFT is certified on an authentic script, and if it’s by a real artist, it’s worth a lot of money.
If someone sells you a fake Van Gogh painting and gives you a fake certificate that shows I’m the real Van Gogh artist who you know made this work, but it’s just a fake. If you buy an NFT from someone who didn’t make it but created the NFT, you’re essentially buying a fake certificate. Thus, you must be especially careful when you are on these less curated platforms. It can still happen on Foundation. It’s a bit rarer there, but on OpenSea and MakersPlace, these less curated platforms, it’s very ordinary. So do your research, and there are a few ways to do that. Let’s talk about more curated where you can go. You have to sign in by selecting your wallet.
We can create a new wallet here, or let’s go through the same process as before. Let’s try to connect the super rare wallet that we just created is ‘Account 6’. I’ll disconnect this super rare and start over again.
HOW TO BUY POLYGON ASSETS – PART 9 (Summary)
The two main ones here are knoworigin.io super rare and the ‘Nifty Gateways’
You can trust any art on these platforms. The platform only lets people that they truly trust and who know and verify this is their art access these platforms, and because of that, these artists sell their works for a lot more money. These are verified artists, pretty successful and well-known of their time. We can participate in these platforms the same way you have an art gallery, and if you find your way into Christie’s or Sotheby’s, your art will make more money.
If you are just someone trying to sell your art on the Internet or something like that, then the same concept appears here. All are almost the same. I will show you the super rare and the biggest ones.
If I try to sign in here, it tells me to start with my wallet.
There is no account associated with that address. You can sign up instead, then continue.
You go through the registration process, but in this case, I have a connected account.
I will go in there.
I’ll show you how to bid here. Try connecting our main wallet here.
Now use a password but sign in with your private key through MetaMask. Now I’m in the Super Rare app. There are wide auctions like on Foundation.
Typically, you can’t buy pieces to buy now price. You can only participate in an auction, and this is the auction where you can place a bid for this piece.
It’s a pretty cool piece. I’m going to place a bid for it.
I can place 2.75 ETH and then click ‘Submit Bid’
It isn’t a guarantee that I’ll win this piece.
But it will put me in the running to do so. I can set the max priority fee. That’s a reasonable fee. It costs me $72 to make this piece, so everything is pretty expensive to go ahead and buy things on the Ethereum Blockchain, even for one-of-a-kind art.
Ultimately, these pieces typically get a lot more money, so it’s worth the transaction fees. Let’s try we can get this piece. Now, submit this transaction. In the meantime, we noticed that another transaction we made with Foundation fees had taken place, and I’m talking about a bid that has started.
There are 23 hours, 58 minutes, and 21 seconds left because I created this bid two minutes ago.
Two minutes was the amount of time it takes to win in the blockchain. I’m the highest bidder, it’s worth 0.3 ETH right now, and in 24 hours, I’ll know if someone else bids me or if I won this piece.
The current high bid is 0.275, which is me.
That’s a quick walkthrough of the one-of-a-kind art world and where you can buy these pieces. We will talk a lot more about the strategy of how to pick a good one-artwork in the next section. But for now, hopefully, this gives you a quick overview of all the different places where you can start buying these art pieces and some of the various explanations of what is curated art piece is versus something more open than anyone can participate. Hopefully, now you understand there is much more to this content, many more marketplaces to explore, and many different blockchains with NFT like Tezos, Algorand, etc. It gives you how to operate with each of the various marketplaces and this guide on the two prime blockchains where you can buy NFT in three places on the Ethereum Blockchain: Immutable, Ethereum main net, and Polygon. Hopefully, it was helpful to give you an idea of where you can get started in this space, where you’ll feel most comfortable, and where your budget allows you to participate most affordable.