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).
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 tokens be locked?
If someone outbids me will my tokens immediately get refunded?
What do I need to purchase NFTs on Raresama?
You will need the native token of the chain on which you wish to purchase NFT’s.
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 fee. After your account has been set up, you will be ready to mint your NFTs. This again requires a small fee.
Where are the NFT’s stored?
NFT’s are stored in an IPFS. Web3, unruggable, secure storage.
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 $SAMA to pay for the mint.
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.