How To Sell Gems On Veve
Veve has made it super simple to buy and sell digital collectibles. Nevertheless, if you've never sold on the platform, then you might be curious to know how to sell your NFT on Veve. Afterwards listing my own NFT, I learned the verbal steps you need to accept.
How to Sell Your Veve NFT
To sell your NFT on Veve, follow these four quick and piece of cake steps below.
i. Login to your Veve Profile
First, sign in to your Veve profile. Yous can list your NFT using both the mobile and web app. It'south up to you to decide which one yous prefer to use. For this tutorial, I'm using the web app.
ii. Get to the Collection tab and select the NFT you want to sell
One time you're signed into your profile, go to the Collection tab and select the NFT that y'all desire to sell.
3. Tap the Sell button
Once you are on the NFT that you lot wish to sell, simply tap the Sell button. Note that there are a couple of details you should accept into consideration before listing your Veve NFT for sale, including:
- Floor Price. This is the everyman price that your NFT is already listed for on the Market.
Generally, you will either want to list your NFT slightly below (if yous want to sell it quickly) or slightly above (if you don't mind waiting for others to sell first) the floor price.
- You lot Paid. This is the cost that you paid for the NFT. To avoid losing money on your initial purchase, avoid listing your NFT for a lower toll than what you paid for it.
Also, make sure to gene in the ii.5% – 8.five% Success Fee that is taken out of the sale amount. This fee depends on the brand of NFT you're selling.
- List Toll. This is the price that your NFT originally dropped for on Veve'southward Store.
Although it'southward not a super important cistron when list your NFT, it does help you lot decide if the demand for your collectible has increased or decreased.
If the floor price is above the listing price, demand has increased. If information technology's beneath the flooring price, demand has decreased. This can help you determine if your NFT will sell rapidly or non.
- Editions and Edition. Editions tell you how many of your NFTs exist, while Edition tells you your exact number out of the total number in existence.
It's important to consider your Edition when listing your NFT.
In general, lower Edition collectibles are worth more to collectors versus an Edition that is a higher number.
For example, if in that location are v,555 Editions, then Edition ten would potentially be worth more than edition five,555.
To run across how much the low editions are listed for, click on Series, choose your Edition, then view Listing for Auction, then sort by Edition – Low.
This volition requite you a good idea of what to list your Edition for. Of grade, just because an NFT is listed for a certain price doesn't mean it'southward selling for the price.
You tin always try list for a specific toll, and if it doesn't sell, yous can simply lower the toll by canceling and re-list your NFT. Don't worry, there are no fees to cancel a listing.
4. List your Veve NFT for sale
After you decide how much y'all desire to sell your Veve NFT for, yous have 2 listing options to choose from: Sell at Auction or sell for a Fixed Toll.
- Fixed Price. Listings where users have to buy your NFT for a stock-still cost. This is a adept option if y'all want to sell your NFT fast and aren't willing to budge on the price.
- Sell at Auction. Listings where users take to bid during a set up period. Once time is upwardly, the highest bid wins. This is a good option if yous're okay with waiting a while longer for your collectible to sell.
An sale will concluding for 3 days, starting from the time you list your NFT. Once a bid has been placed, you tin can't cancel or edit your listing. Auctions are last and can't exist reversed.
Regardless of which list option y'all choose, simply input the price you want to sell your NFT for so hit Concur and List In Market place.
Congratulations, you have successfully listed your Veve NFT for auction!
Can I Cash Out GEMs on Veve?
You can withdraw Veve Gems into your bank account for fiat currency or into your crypto wallet for crypto. In that location is a 10% fee to withdraw your Gems. The minimum withdrawal amount is 100 Gems and the maximum is 50,000 Gems in a 7-24-hour interval period. You must complete KYC verification before using payout.
You can use Veve'southward Payout arrangement to withdraw your Gems from your Veve wallet, and accept the funds put dorsum into your banking company account in your local currency or into your crypto wallet.
The Payout arrangement currently supports the following methods:
- Depository financial institution Transfer (fiat)
- Cryptocurrency (USDT, ETH, Binance USD (all ERC20), and BTC.
Please note that the crypto Payout feature is temporarily on hold for users with under 1,000 Gems in their wallet.
What Are Veve's Payout Requirements?
Before you can withdraw your Gems, you lot must attach to Veve'southward requirements.
- Yous may merely withdraw to your personal bank account or crypto wallet.
- Currently, you must concur a minimum of 1,000 Gems to authorize for a Payout.
- The minimum withdrawal amount is 100 Gems.
- The maximum withdrawal corporeality is fifty,000 Gems in any 7-24-hour interval period.
- Virtually bank transfers will arrive within 5 business organisation days (there's no guarantee of the exact time).
- Crypto payouts generally arrive in your wallet within standard cake time (Wyre is providing this service).
- Wyre must approve their own compliance check before approving a Payout.
How to Greenbacks Out Veve Gems Using Payout
To withdraw your Gems for fiat directly into your bank account, follow these four steps.
1. Sign Into Your VeVe Profile and Choose Payout
First, you need to sign in to your Veve Account and become to your Profile. From in that location, go to Settings and select Payout. Side by side, enter the number of Gems yous'd like to withdraw.
ii. Choose Your Payout Method (Fiat or Crypto)
You lot have two Payout methods to cull from; Depository financial institution Transfer (fiat) or Crypto Wallet (crypto).
The bank transfer pick will have longer to receive your funds and more data is required to initiate the transaction.
If you desire your funds as presently as possible, I recommended choosing the cryptocurrency pick when requesting a payout.
3. Asking a Payout.
Once y'all decide which payout method you'd like to use, you lot can asking a payout.
Banking company Transfer
For your first banking company transfer payout, you lot will need to add together your banking concern account details. To do this, cull Bank Transfer and then Add Account.
Please notation that Veve gives you v minutes to consummate the steps below.
- Choose your local currency. If it's not shown, select USD and information technology volition exist automatically converted to your local currency.
- Beneficiary details. This section will default to the proper name you used to get verified for your Veve account.
- Enter banking concern account details. Accounting number, Routing number (US only), BIC / SWIFT, bank name, bank state.
In one case all these details are entered, printing Add together Account. If all of the details look good, click Withdraw.
Annotation: If you live in a country that uses an International Bank Business relationship Number (IBAN), you will need to enter it when inputting your bank account number in the Payout screen.
Cryptocurrency
The cryptocurrency payout method is much quicker compared to the bank transfer option. Follow the steps below to withdraw your Gems for crypto.
- Cull your preferred cryptocurrency
- Enter your cryptocurrency wallet address
- Concord to the payout terms and conditions tap Next
If all of the details look good, click Withdraw.
What Are the Fees Associated with Veve Payout?
There is a ten% fee for all Payout transactions on Veve. As well, the following fees may apply.
- For applicative U.Southward. users, a $one USD ACH transfer fee applies.
- For users not eligible for ACH payment (such as international users), the payout will be washed via a wire transfer for a fee of $15.
- Bank fees (including foreign exchange conversion fees if you're withdrawing into a not-USD business relationship) may also use.
Tin I Sell My Veve NFT on Opensea?
You lot can't sell your Veve NFT on Opensea. The only marketplace where y'all are able to list your NFT is the Veve Marketplace. If you see an apparent Veve NFT listed on Opensea, it is not an authentic Veve collectible.
Still, at that place'southward a possibility that Veve NFTs will be bachelor for trade on Opensea in the future if Immutable 10 (Veve's blockchain) and Opensea (Ethereum blockchain) determine to piece of work together.
Can You Move Your NFT from Veve?
All Veve NFTs remain on the platform. There is a possibility that you will be able to take NFTs off of Veve in the futurity (and movement them to the Ethereum mainnet), merely not nonetheless. According to Veve, this depends on agreements from the individual licensors.
Source: https://cyberscrilla.com/how-to-sell-veve-nft-and-gems/
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