NFT Gallery is an online art gallery that specializes in physical pieces of digital artwork. By scanning the QR codes on NFT Gallery’s pieces, you can check out the metadata and make an offer on any piece of your choosing.
If you make the winning bid, you receive the NFT in question and it shows up on your wallet within minutes of the auction closing.
If someone else outbids you, then you can try again and outbid them next time around.
Table of Contents
Introducing The Gallery
The NFT Gallery is an artwork collection of digital assets that are available for purchase.
The main attraction at The NFT Gallery is its Bid Here feature which allows visitors to bid on pieces they like.
This is achieved by scanning a QR code on each piece with their Ethereum mobile wallet app, opening up a bidding process where visitors can place their bids in a completely transparent manner.
This can be done via MetaMask or Coinbase Wallet DApp using either Ether or ERC-721 tokens as payments for art pieces.
As soon as someone places a bid, it locks that price and size so no other visitor will get it cheaper during that time period.
How to Make a Bid
When you enter an NFT Gallery and see an item you want to bid on, simply scan its QR code using your wallet app. From there, you can make an offer with that item’s accepted currency.
The gallery displays a visible meter showing current bids and the time remaining for each auction (if applicable).
If your bid is accepted, it immediately sends it to a smart contract where bids are locked in until either time runs out or someone else places a higher bid.
When your offer is locked in, congratulations: you’re now the owner of that piece of art!
Register and Start Bidding
Registering for an NFT Gallery is super easy. As soon as you’ve signed up, you can start browsing and bidding on artwork.
If you like what you see, simply tap on an image to view the details of each piece.
If it looks good to you and there are no bids in place yet, place your own bid—otherwise, there’s no need to waste anyone’s time.
When your bid has been accepted by an artist (and only artists can accept bids), send them funds to begin creating your item right away! Once they’re done, they’ll ship it off immediately via our blockchain courier service and we’ll notify you when it’s been delivered directly to your door!
Understanding How Ethereum And Smart Contracts Work
The blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography.
Each block typically contains a hash pointer as a link to a previous block, a timestamp, and transaction data. By design, blockchains are inherently resistant to modification of data.
Modification of data on an existing blockchain requires alteration of all subsequent blocks and consensus by the participants in that blockchain. That Brings the NFT Gallery to the next level.
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Though all blockchains contain some degree of unsophistication when it comes to data manipulation (such as editing timestamps or reordering transactions), we may consider those factors immaterial for simplicity’s sake.
FAQs About The Auction
Q. How does bidding work?
A. Bidding is completely free and works similar to a traditional auction with ascending bids and a time limit for making each bid.
In order to place your bid, you need to use your NFT wallet (with tokens already in it) to scan each unique QR code on artwork that you are interested in.
Once you have successfully scanned all of an artist’s QR codes, you can place your final bid on their artwork with a simple tap or click of their QR code. Bids will remain private and only visible until bidding closes – winners will be announced at that time as well as how much they actually won!
Q. What happens if someone outbids me?
A. There is no limit to how many times you can make a bid on artwork; however, there is only one chance per person/wallet address/Ethereum address to participate in an auction.
If someone outbids you, we recommend trying again! We anticipate some very interesting competitions between our users…
Q. Where do I get my Ethereum so I can make bids?
A. You don’t necessarily need ETH to start bidding right away – the easiest way to add ETH is through Coinbase or any other crypto exchange platform where you own an account and accept payouts in ETH. To withdraw from these exchanges, simply send them to your personal address using MetaMask.
Q. Do I have to go find every single piece of art I want to bid on beforehand?
A. No! For convenience’s sake, it’s best to familiarize yourself with what we are showcasing ahead of time before bidding starts but you never know what might catch your eye once bidding begins 🙂 You can always come back and check things out during open hours afterward too :).
Conclusion
Non-fungible tokens are specific portions of facts that can be saved on a blockchain. Digital art, music, video clips, tickets are some examples of virtual belongings which can be being transformed as NFTs. Some human beings suppose that that is a bubble with the intention to burst and a few human beings suppose that NFTs will pressure the virtual economy.
