Frequently asked questions
What is an NFT?
An NFT is a Non Fungible Token which is a digital asset stored on the blockchain. This Digital asset can be distinguished from one another due to specific metadata and ID codes. They can even be linked to real world items.
What is a "floor price"?
Floor price refers to the lowest price of an NFT (in a collection).
Is Raresama for 1:1’s only? What about collectibles?
Raresama will allow the minting of both NFTs (ERC721s) and collectibles (ERC 1155s).
What can I do with POOP?
POOP is Raresama’s governance token and gives the community governance rights. A small fee in POOP must also be paid to create a user profile and mint NFTs once these functionalities become available.
How long does an auction last?
That depends on how long the artist sets the auction for. Auctions use a showdown mechanism, meaning that if a bid gets placed in the 5 minutes before the end of the auction, the timer extends, allowing for more bidding. Bring on the bidding wars! This also prevents sniping.
If I place a bid will my $GLMR be locked?
If someone outbids me will my $GLMR immediately get refunded?
What do I need to purchase NFTs on Raresama?
You will need $GLMR to purchase NFT’s.
How do I obtain $GLMR and $POOP?
$POOP can be purchased on Moonsama Marketplace or earned through Pondsama Fish NFTs. It will soon also be listed on Stellaswap and Beamswap. Information on where to purchase $GLMR can be found on Coingecko and CoinMarketCap.
How can I submit my art on Raresama?
Sign-in to Raresama using your wallet. You can then create your personal profile, this requires a small POOP fee. After your account has been set up, you will be ready to mint your NFTs. This again requires a POOP fee. NOTE: This feature will be available shortly after launch.
What is the royalty percentage on Raresama Marketplace?
Raresama offers 5% artist royalties and handles a 2% platform fee.
Where are the NFT’s stored?
NFT’s are stored in an IPFS. Web3, unruggable, secure storage.
What is the acceptable file format?
Right now we accept .png and .jpeg.
Does my minted NFT belong to me or Raresama?
Your NFT always belongs to you and is stored on the blockchain.
What do I need to mint my NFT?
You will need $POOP and you will need $GLMR for gas fees.
Can I burn my NFT’s?
Yes, but fees are non-refundable.
Can any artist publish and compete with other artists for auction?
Yes! Results depend on community votes.