When non-fungible tokens started taking off at full speed, new NFT markets emerged. KnownOrigin is one of the emerging CryptoArt NFT marketplaces that is mainly focused on digital art. The platform requires artists to sign up by submitting an application before they can start tokenizing. The market mainly focuses on the creation and distribution of digital art, thus it was designed for digital artists.
The process of signing up and becoming a creator is not easy as compared to other NFT marketplaces. The application is a closed process for the creators. However, once an artist signs up, they can showcase their talent in creating art. Viewers are encouraged to buy creative art designs from several artists who post on the platform. An authentication process takes place before CryptoArt can be listed, and each piece of art must contain detailed transactional histories.
Popular and featured creators on KnownOrigin NFT Marketplace include Sabet, Genuine Human Art, XCOPY, etc. The platform offers both primary and secondary sales, which are completed using ETH. On primary sales, artists receive 85% from the sale and 15% is paid to the platform as a commission fee. On secondary sales, sellers receive 85% from the sale, 12.5% goes to the original creator and 2.5% goes to the platform.
History of KnownOrigin NFT Marketplace
KnownOrigin NFT Marketplace was launched in 2018, just after the launching of OpenSea NFT Marketplace in 2017. This marketplace was built on Ethereum and all buyers require a Web 3.0 digital wallet to purchase NFTs from the platform. This means that every user must have ETH to do transactions on the platform. The window for creators’ applications is not always, and the notice of every opening is announced for new applications.
How to Mint NFTs on KnownOrigin NFT Marketplace?
- Once your application has been approved to be a creator on the platform, head over to your profile, and click on “Upload & manage artwork”.
Select “Create NFTs”.
- The next step is to decide on the type of NFT you want to create, since there are different processes to be followed.
- Upload the item you want to mint to IPFS. You can do this by dragging the file or using file explorer.
- Add all the necessary details of your NFT. Keep in mind that a good and clear description helps buyers to know and understand your artwork. These details also include the size of the artwork, tags, themes, and formats, etc.
- The final stage is setting the type of auction you want to use in selling your listed NFT.
- If you choose the “Buy it Now” option, set the price in ETH, and read the terms and conditions before proceeding. A gas fee prediction notification will be sent to you. Make sure all details are correct and make the necessary changes before confirming.
- Once you are satisfied with the details, click “Mint Artwork”.
Wallet for KnownOrigin NFT Marketplace
Ether (ETH) is the only currency that is accepted on the platform. If you have no ether, then you can purchase it from a trusted crypto exchange platform. Once you have purchased your ether, you can transfer it to your Web 3.0 wallet, which is the MetaMask Wallet. This will make it easier for you to buy or sell on KnownOrigin NFT Marketplace.
How to Buy NFTs on KnownOrigin NFT Marketplace?
To get started on purchasing NFTs on KnownOrigin NFT Marketplace, you must have a connected wallet.
To Connect a Wallet:
- Browse for the “Wallets” tab and click on “Connect Wallet”.
- Choose the wallet that you want to connect.
- When the wallet has been connected, you will see a link of the confirmation on your profile.
To Purchase an NFT:
- Go to the homepage or NFT listing page and browse for the NFT you want to purchase.
You can find sale items on the primary marketplace and resold art on the secondary marketplace.
- If you know the name of the NFT you want to purchase, you can click the “search” tab and instantly select your NFT.
- If the artwork you want to purchase is listed on auction, then you must place a bid and wait for the auction to expire. If you win the bid, you will receive a notification to confirm the purchase by making a payment from your wallet.
- If the artwork is available on the “Buy now” option, simply click “Buy” and confirm the ETH payment from your connected wallet.
- When the transaction is complete, the NFT is sent to your Web 3.0 wallet. Moreover, you can view your NFT collections from your profile page.
How to Sell NFTs on KnownOrigin NFT Marketplace?
- This marketplace is well known for being strict and selective as to who can mint NFTs on its platform. Once your application has been approved as a creator, you will need a digital image that is compatible with KnownOrigin’s requirements, specifications, and gas fees.
- To sell an NFT on KnownOrigin NFT Marketplace, you need a connected wallet.
- Select the NFT you want to sell from your profile page.
- Choose the sale method you prefer. If you opt for an auction, you must set the price, duration of the auction, etc. If you select the sell now option, then set your price and your NFT will be listed.
Is KnownOrigin NFT Marketplace the Best NFT Marketplace?
Moreover, there is a step-by-step guideline for users to follow when their accounts have been hacked. These include reporting the issue by contacting the support team, the identity confirmation process, creating a new account, and deleting the old one. KnownOrigin NFT Marketplace offers NFT drops, and you can view the latest and upcoming NFT drops on knownorigin.io/drops. You can also subscribe to newsletters to stay updated on NFT drops.
KnownOrigin NFT marketplace offers a user-friendly platform that can easily be navigated by new users. New users are also entitled to newcomer incentives offered by the platform. There is a variety of options when it comes to exchangeable currencies, and all balances on the platform earn interest.