NFTz Overview
  • ❓Users Guide
    • Welcome
      • What is NFTz?
      • What is the DeSo Blockchain?
      • What is the DeSo Cryptocurrency?
      • What are diamonds?
      • How to handle Seed Phrases
      • What is an NFT?
      • What are the costs of using NFTz?
      • How do you login to NFTz.me?
      • How do you make a metamask identity?
      • How do you make a Deso Identity?
      • Teach me everything!
  • 👼NFT
    • Buying NFT Intro
      • How to buy an NFT?
      • How to claim a free NFT?
      • How to see unlockable content?
      • How does the NFTz market work for a buyer?
      • How can I see the cheapest NFTs a creator has for sale?
      • How can I see my ongoing bids?
      • How do I cancel a bid?
      • How can I see a collection of an NFT artist?
      • How can I see the rarity scores of a collection?
    • Selling NFT Intro
      • Minting
      • Royalties
      • Burning
      • How do you mint / sell an NFT?
      • How do you mint an ETH NFT? [Advanced]
      • How to mint an Audio NFT?
      • How do you create a claimable free NFT?
      • How to Transfer an NFT?
      • How to burn an NFT?
      • How to hide an NFT?
      • How to close an NFT auction? / Remove from sale
      • How to reopen an NFT auction?
      • How do you make a timed auction?
      • How do you cancel a timed auction?
      • How do you cancel a claimable NFT?
      • How do you update a timed auction?
      • How do you update a claimable NFT?
      • How do you make a metamask wallet? [PC]
      • How do you make a metamask wallet? [Android]
      • How do you make a metamask wallet? [iphone]
      • How to set additional royalties? [Advanced]
      • How to add unlockable content? [Advanced]
      • How to store an image on IPFS Piñata? [Advanced]
      • How to use an Arweave link? [Advanced]
      • How to make a collection of your NFTs? [Advanced]
      • How to add traits to your NFT by form? [Expert]
      • How to Add traits to your NFT by extradata? [Expert]
  • 🌈Creator Zone
    • Creator Zone Intro
      • What do all my Tabs mean on my personal page?
      • Changing the displayed NFTs that are featured on my personal page?
      • How do you make a gallery on your personal page?
      • How do you make a URL path of your gallery? [to share with others]
      • How do you share your personal page?
      • How do you share your gallery URL path?
      • How to accept an NFT that has been transferred to you?
      • How to set an app icon at my homescreen?
      • How to switch my app icon that other people can see?
      • How do you set an image banner at my personal page?
      • How do I add my emailadres?
      • How to set up analytics for your zone?
      • Show all current NFT owners
  • 🎮3D/VR
    • 3D/VR Intro
      • How do you mint / sell a 3D NFT? [Advanced]
      • How do you enter a 3D gallery?
      • How do you make a 3D Gallery?
      • How do you navigate an Gallery in 3D?
      • How do I give likes and diamonds in 3D?
      • How do you navigate an NFT in 3D?
      • How do you navigate an NFT in VR?
  • 🎨NFT Artist
    • How to become an NFT artist Intro
      • Creating an account
      • My first NFT
  • 🔍Troubleshoot
    • Lexicon Intro
    • Troubleshoot
  • 📳Contact / Socials
    • Contact / Social Intro
      • Meet the Team
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  1. NFT
  2. Buying NFT Intro

How does the NFTz market work for a buyer?

PreviousHow to see unlockable content?NextHow can I see the cheapest NFTs a creator has for sale?

Last updated 2 years ago

Understanding the NFTz market will make it easier for you, as a buyer, to find the purchase that is right for you. The NFTz marketplace almost feels like a shop but there are some differences. When an NFT creator mints an NFT and it is purchased by another creator, multiple things can happen.

What happens after an NFT transaction:

  1. The owner can choose to just hold onto it, and 'Not for sale' will be displayed on both the creator's zone (page) as well as on the new owner's zone (page); remember you can always message the owner if you really want to buy it and make an offer)

  2. The new owner chooses to put the NFT on sale without a buy now price. You will see a green button with 'Offer'. In this case, it's possible to make a bid (offer) for the minimum amount asked or higher. Sometimes you will also see bids by other people. Only when the owner accepts a bid by closing the auction, the NFT will have been sold. There is no time limit for how much time the auction can be open. Remember you can also message the owner for what amount he/she will sell it. You can always make a higher bid if you really want it.

  3. The owner chooses to put the NFT on sale with a buy now price. You will see a green button called 'Buy'. By paying the full price of the Buy Now, you will become the new owner of the NFT right away. Depending on the current owner, sometimes there is also a lower minimum price for bidding set. This means it's possible to make a lower bid than the current 'buy now' price. For example, an NFT has a minimum price of 1 deso and a buy now price of 2 deso. If you bid the minimum price or higher, then the current owner can choose to accept this bid. Remember that you can still be outbid or even have someone else 'buy it now' before your offer is accepted. Also it's possible that the owner does not want to sell the NFT and closes the auction without any buyers. If the 'minimum bid price' and the 'buy now price' are the same, always choose the 'Buy Now' price as this will automatically close the auction and make you the owner of the NFT.

Two other options not related with buying

4. The owner chooses to transfer the NFT to another creator. This happens sometimes if creators trade NFTs with each other or want to gift somebody.

5. The owner chooses to burn the NFT. If this happens the NFT is removed from the blockchain and will be shown as a post instead of an NFT.

At NFTz we have created many different ways to sort the NFTs an artist has. This makes it easier for the buyer to find the right NFT. Keep reading to see what some good ways to sort NFTs for a purchase can be.

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