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Home How to Purchase an NFT MagicBox (on App)

How to Purchase an NFT MagicBox (on App)

2022-03-19 03:58:15 UTC 93106 Read
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1.Log in to your Gate.io account on app. Tap "NFT Box" on the homepage.

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2.Select an NFT work you want to purchase on the "NFT MagicBox" page.

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Take "Purchase/Offer" sale items as an example.

3. Click on the NFT work you want to purchase to view asset details.

① If you are happy with the set sale price, just click "Purchase" to make the transaction.


② If you are not happy with the set sale price, click "Offer" to input a custom price you like.

Note:
1) If the asset owner accepts your offer before it expires, the transaction will be automatically executed.
2) If the asset owner does not accept your offer before it expires, the offer will become invalid and your payment will be returned to your spot account.


4.Once the purchase is successful, the payment will be directly deducted from your spot account. In this process, it is necessary to ensure that a sufficient balance of the corresponding token remains in your account.

Take an auctioning sale as an example.

5.Click on the NFT work you want to buy to view auction details (including the margin, the opening price, the increment, the delay period, the time the auction ends, etc.) Click on "Bid" to participate in the auction.

Normally, the highest bidder becomes the buyer at the end of the auction; if no one bids or the highest bid is lower than the reserve price, the work will become an "abortive auction" and the owner can list it for sale again.


Note:

1) Margin will be deducted in advance of the first bidding, while not required for subsequent bidding of the same item.
2) If the bidding is not successful, the margin will be automatically returned to the spot account after the auction.
3) If the bidding is successful, the margin will be automatically converted to payment after the auction, and the final payment will be automatically deducted from your spot account.
4) The act of bidding will not lock your funds. In order to make a smooth transaction upon successful bidding, please keep enough funds in your spot account to cover the final payment. If the deduction fails due to insufficient funds, the margin will be automatically returned to the seller.



Risk Warning

1.Gate.io only provides the minting, transaction, and storage of NFTs themselves, with no rights to interfere with related matters of their copyright, quality, physical item, implicit value, etc. Users need to make their own judgments on whether to trade or not.
2. NFT transaction has a low-frequency demand. The NFTs being minted or displayed for sale will not necessarily be sold in a short time. They may undergo a price discovery process. Completed NFT transactions cannot be revoked. So be prudent with your pricing.
3. NFTs are a certain type of blockchain virtual assets, which involve safe custody of private keys, wallets, and other assets. Due to the scarcity of NFTs, it may cause immeasurable losses if they got lost. So please keep them properly.
4. Gate.io currently only supports selected external mainstream wallets, and the recipient address used is not the spot wallet address. Please check addresses and the supported contracts carefully when inputting NFT assets, in case they cannot be retrieved.
5. NFT MagicBox supports uploading content first and minting later. Once the minting is done, the content cannot be changed.
6. NFT MagicBox supports listing multiple copies for one work. Investors need to confirm the quantity before trading to avoid significant deviations between valuated prices and market prices.
7. Gate.io does not guarantee that works being displayed or sold in NFT MagicBox have no duplicates on other platforms or public blockchains now or in the future. Users need to make verifications and judgments themselves before trading.


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