MakersPlace is expanding the breadth of its verified Marketplace, allowing collectors to purchase and/or sell verified 3rd party NFTs directly on MakersPlace. All 3rd party projects are curated and thoroughly vetted by our curation team to ensure authenticity. Any sales of 3rd party NFTs include a low commission fee of only 0.5% (vs 2.5%).
Learn how to list your NFTs for sale on MakersPlace in the article below.
Log in to / Connect your Wallet
You can do this with either your MakersPlace account or by using your personal digital wallet (we recommend MetaMask). Once you do so, all verified 3rd party NFTs that you own will appear in your collection.
Set Your Price
Visit the artwork product page of the NFT you own, there you will see a toggle to “Sell this Artwork”. Turn the toggle on to set a price and list your NFT on our marketplace.
If you logged in through your MakersPlace account but your NFTs are stored in a personal wallet, you will be prompted to grant permissions through your digital wallet before you can list your NFT and set a price. You must have your digital wallet installed in your browser, logged in, and connected to the correct wallet in order to complete this step.
This permission grants our smart contract with the ability to transfer your NFT to the buyer upon purchase. The transfer can only happen if and only if the buyer pays the full amount in ETH. Your NFT cannot be transferred under any other circumstance.
Set a Lowest Asking Price (Buy Now & Reserve Price)
When listing your NFT, you will be given two options for setting a lowest asking price:
Buy Now : Any interested buyer will be able to purchase your NFT for the price listed immediately. You will not need to accept any bids or engage in any actions for the sale to go through.
Reserve Price: A reserve price signals the lowest amount you would be willing to accept for your NFT. Once your listed reserve price is met, a 24 hour auction will automatically be triggered. During this time, other interested buyers can place bids. The bidder with the highest offer at the end of the auction will be the new owner of the NFT – to win the auction their bid must stand for 15 minutes without any counteroffers, otherwise the auction will be extended by 15 minutes.
Gas Fees & Setting Prices
If you are using a MakersPlace custodial wallet, no gas fee will be required for setting either Buy Now or Reserve Prices.
If you are using your personal ETH wallet, you will be required to pay an initial gas fee to set a Buy Now price, switching your Buy Now price to a Reserve Price, or delist your NFT. You will not be required to pay a gas fee to set a Reserve Price.
A note on gas fees and how they work:
MakersPlace runs on the Ethereum blockchain, which can be thought of as a global computer, operated by many individual computers across the world. To help run the blockchain, each interaction with it requires a small transaction fee to compensate the operators of Ethereum — This is the Gas Fee. When the Ethereum blockchain gets busy, the transaction fee increases based on supply and demand.
Other Things to Note about Buying & Selling Verified 3rd Party NFTs on MakersPlace
100% Authentic and Verified
Every artwork and collection offered through MakersPlace goes through a multi-step process to ensure its authenticity. Every project requires at least 3 proofs of identity, more if needed. The MakersPlace team verifies the smart contract, the team behind each project, one or more online identities and more.
One-time Smart Contract Approval
For each 3rd party smart contract or project, MakersPlace requires a one-time permission to transfer your artwork to the buyer upon successful sale. This contract can only transfer the artwork if and only if the buyer purchases the artwork.
There will be a small transaction fee to complete this approval. You can also revoke this permission at any time within your settings.
Is fiat accepted?
At this time only ETH payments will be accepted for secondary sales of verified 3rd party artworks. Only artworks minted on MakersPlace will be purchasable in both ETH and fiat.
Are erc-20 based NFTs natively compatible or will they need to be wrapped?
Only erc-721 based NFTs are compatible. Erc-20 based NFTs are compatible only if wrapped with a erc-721 token.
What are the secondary sales commissions for 3rd party artworks?
Verified 3rd party artworks sold on MakersPlace will have a low 0.5% commission fee, along with project-specific royalties. Our typical sales commissions apply to all MakersPlace native projects: 15% for primary sales and 2.5% for secondary sales, with 10% going to creators as royalties.
How do royalties work for secondary sales of 3rd party artworks?
Artist royalties are based on the original contract of whichever platform the artworks was natively minted on.
Do you accept personal smart contracts?
Yes, we will accept all ERC-721-compliant smart contracts.
What is an “Original Mint” ?
An original mint refers to an artwork that is still owned by the original creator of the artwork.
How do I get my NFTs listed?
We are actively whitelisting individual artists and collections.
If you are interested in having your project or artworks listed please apply here.
Get in Touch
If you’re a digital creator, you can learn more about MakersPlace here.
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