Getting Started with NFTs
A short guide for those who are very new to NFTs
Take a look at our NFT Urban Dictionary, if some of the words in this guide don't make sense to you yet.
What is an NFT (Non-Fungible Token)?
In layman's terms: NFTs are a record of your ownership of digital and physical goods. Usually they have a unique image that you can see either on Rareboard, or in your crypto wallet. People trade them, and the more rare they are usually the more valuable they become.
A non-fungible token (NFT) is a blockchain-based unit of data that can be linked to digital and physical objects to provide immutable proof of ownership.
The non-fungible part means that what you hold is unique. The Mona Lisa is non-fungible. Even if you make copies and sell prints of the painting, there is still only one Mona Lisa.
Also in contrast, dollars are fungible. It doesn't matter which dollar bill I pay with, as long as it is not a counterfeit, then you can accept it. However non-fungible tokens are unique and each individual token has its own value.
NFT's can be linked to digital images, avatars, videos and even songs. They can also be used to provide you with exclusive merchandise, tickets to live or digital events, or be even linked to high-end fashion items and other real world goods.
NFTs use blockchain technology to enable individuals to create, buy, and sell items in an easily verifiable manner.
Getting a Crypto Wallet
You will need a Crypto Wallet in order to buy and store you NFTs. It's important that you choose a secure and reputable wallet app in order to keep your NFTs safe. We recommend the SafePal wallet as a good starting point. It works extremely well on both Android and iOS, and if you want to make it more secure in the future you can add a Hardware Wallet to make it even safer.
Download the SafePal App
Set up the Security Password
Create a Software Wallet
Back up the mnemonic phrase (the set of random words generated by SafePal)
Make sure to write your random words down somewhere very safe. Don't screenshot them or store them on your phone. It's best to keep them somewhere offline.
How do I Buy an NFT?
You can buy an NFT via rareboard.com with crypto currency. You will need some BNB (the coin of Binance) to buy your first NFT. You can get your first BNB on binance.com or through a crypto wallet like SafePal where you can use your credit card.
Once you have a crypto wallet, and some BNB to make your purchase:
Buying an NFT from the Rareboard Marketplace
Go to rareboard.com and look at the trending collections. You can filter by recent sales volume to see what is popular
Click on the name of the collection you want to buy from, such as PixelSweeper
On the collection page: rareboard.com/pixelsweeper you can order the NFTs by Price, by clicking on the Price column - this will allow you to find the least expensive NFT from the collection
Connect the Crypto Wallet where you have your BNB by clicking on the Connect Wallet button on the top right hand of the screen
Click the Buy button, next to the NFT you want to buy. You will see the price in both BNB and dollars
Complete the transaction with your Crypto Wallet. The window from your Crypto Wallet should pop-up as soon as you click the Buy button. You will have to pay a little bit of BNB for Gas Fees, as well as the BNB for the NFT you are buying
Once the wallet transaction is complete, you now own the NFT. You can check if you own it by clicking the My NFTs option on the collection page on Rareboard. If you don't see your NFT at first, then simply refresh the page and you will see it
Minting an NFT from a new collection on Rareboard
Go to rareboard.com and look at the minting collections
Click on the name of the collection you want to mint from
Connect the Crypto Wallet where you have your BNB by clicking on the Connect Wallet button on the top right hand of the screen.
On the collection page you will see a Mint button and the price that the NFT is to mint, adjust the amount of NFTs you want to mint and then click Mint
Complete the transaction with your Crypto Wallet. The window from your Crypto Wallet should pop-up as soon as you click the Mint button. You will have to pay a little bit of BNB for Gas Fees, as well as the BNB for the NFT you are minting
Once the wallet transaction is complete, you now own the NFT. You can check if you own it by clicking the My NFTs option on the collection page on Rareboard. If you don't see your NFT at first, then simply refresh the page and you will see it
How do I Sell an NFT?
There are two ways you can sell your NFT via Rareboard:
If you list your NFT for sale on one of our Marketplace Partners, such as NFTKey or PancakeSwap, then your NFT will appear for sale on rareboard.com
You can accept a Bid on your NFT directly via Rareboard
Listing your NFT with one of our Marketplace Partners
Rareboard is an NFT Marketplace Aggregator, which means we show NFT buying opportunities from several NFT Marketplaces on BNB Chain. In order to sell your NFT via Rareboard you will need to list your NFT on one of our partners' marketplaces. Here is an example for how to list your PixelSweeper on NFTKey, one of our partner Marketplaces.
Go to nftkey.app and connect your crypto wallet by clicking the Connect Wallet button in the top right hand corner. Make sure you connect to NFTKey with the wallet that holds the NFT you wish to list for sale
Go to the My NFTs section of NFTkey by clicking on the My NFTs button
Open the PixelSweeper section (or the collection of the NFT you want to sell) so that you can see all the NFTs in your wallet for that collection
Click the List button on the NFT you want to list for sale
On the next page, click the List onto market button
Enter the amount of BNB you want to sell the NFT for. Remember there will be a marketplace fee and usually a royalty fee that goes back to the NFT project - on NFTKey this is information is presented to you below where you enter the BNB price
Choose the length of time you want to have the NFT listed for Sale for
Complete the transaction with your Crypto Wallet. The window from your Crypto Wallet should pop-up as soon as you click the last List button. You will have to pay a little bit of BNB for Gas Fees, as well as the BNB for putting NFT for sale
Accepting a Bid on your NFT directly via Rareboard
When someone uses one of our Marketplace Partners' platforms to make a bid on your NFT, you will see this in the Offers column of each collection on Rareboard, for any NFT you hold.
In order to see the Bids that have been placed on your NFTs, make sure when you visit Rareboard you have connected your crypto wallet which holds your NFTs when visiting the rareboard.com
Go to rareboard.com and use the search bar to find the collection where you might have some bids on your NFTs, in this example we will use PixelSweeper
Connect the Crypto Wallet where you have your NFTs by clicking on the Connect Wallet button on the top right hand of the screen.
On the rareboard.com/pixelsweeper page, click the My NFTs button so that only your NFTs are shown in the list
Click on the Offers column so that you see the highest offers on your NFTs
Click on the Sell button for the item you want to accept the Offer for - the price of the offer is shown above the Sell button
Complete the transaction with your Crypto Wallet. The window from your Crypto Wallet should pop-up as soon as you click the Sell button. You will have to pay a little bit of BNB for Gas Fees and because it is a Bid, you will receive your money as WBNB
You can unwrap the WBNB into regular BNB at pancakeswap.finance
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