In a previous article, we covered a bit on how to sell your NFT on Sphere by accepting a bid offer. In this article, we will describe how to list an NFT for auction.
Listing an NFT in an auction simply means you want to put up your NFT for sale at a specific price and open it to the public to bid or accept your price offer.
To sell your NFT through an auction, you need to understand a few things:
1. Auction sales aren't guaranteed as no one may be willing to buy at your fixed price.
2. Auction sales have an expiration time. Your ask offer for an NFT may or not be accepted for the duration you set.
To proceed to auction off your NFT, follow these steps:
Step 1: Connect MetaMask
The first thing you should do is connect your wallet to Sphere. Whenever you want to transact on the marketplace, you need to ensure that your wallet is connected. In this case, double-check that you are connecting the wallet that holds the NFT you wish to sell.
Connecting your wallet can be done by pressing the "Sign-in" button in the upper right corner of the marketplace.
Step 2: Locate your NFTs
All your NFT collections can be found in your account. Access them by clicking your account details from the menu in the top right corner of the screen. Click "Your NFTs" and you should be redirected to your collected items.
Step 3: Select an NFT for Sale
When you get to your user details, you should see a list of NFTs. Select one of them for sale. In this example, we'll select a Beam Drive One for sale by clicking on it:
Step 4: Listing at a Fixed Price
In the popup that follows, you'll be able to select the fixed price for your NFT listing. Select a currency that you'll accept for your NFT. Next, you set a fixed price for your NFT. The system will automatically calculate how much the buyer will pay in gas fees to include it in the final price. Finally, you can set an expiration date. If no one buys the NFT by that date, the NFT will no longer be for sale.
Note the following fees while listing your NFT for sale: a creator fee which is the fee on every order that goes to the collection creator, and the Sphere platform fee.
Step 5: Approving the Wallet Listing
MetaMask should prompt you to approve the NFT's listing. You can select to approve or deny the transaction. Approving the transaction puts the NFT up for sale at the fixed price you chose previously.
Step 6: Confirmation
Once you've approved the transaction and the chain verifies it, you'll be alerted that your NFT is listed for sale by a confirmation screen. From here, it's just about waiting for someone to buy it from the listing or for the listing to expire.
Congratulations! You've successfully put your NFT up for sale on Sphere!