Selling NFTs on Magic Eden's Marketplace: A Step-by-Step Guide | Magic Eden Help Center (2024)

FAQs

How to sell NFTs on Magic Eden? ›

Look for a prominent button before the first displayed NFT that says "Instant sell for." Select the NFT you want to sell instantly by checking the checkbox next to it. Upon confirming your selection, the checkbox will be ticked. Click the "Accept offer" button to proceed to the transaction and complete the sale.

Getting Started with Magic Eden

To get started with Magic Eden, you'll first need a Solana-compatible crypto wallet like Trust Wallet. You'll also need to ensure you have enough SOL tokens in your Solana wallet to cover the gas fees on the Solana blockchain and pay for your NFT.

To sell an NFT, find where it's located in your collection. Then open it and tap the “sell” button. Immediately, you'll be redirected to the listing page, where you determine how you want the NFT listed and the sale terms.

While its primary function is to allow users to buy, sell, and even create NFTs, it also offers other essential features, including a non-custodial wallet, developer resources, and a launchpad for NFT and Web3 projects. However, Magic Eden goes beyond Solana as it supports Ethereum, Polygon, and even Bitcoin Ordinals.

Optional royalties are applicable exclusively on the BUY side of transactions. Sellers will receive the List price minus ME's platform fee, while buyers will pay the List price plus the royalty percentage they have selected. This option is available to set at the account level.

When minting open editions on the Solana blockchain via Magic Eden Wallet, you will still encounter program fees (rent), transaction fees (gas) and platform fees. These fees, typically range between 0.02 to 0.04 SOL. By being aware of these fees upfront, you can make informed decisions about your minting endeavours.

No, there is no fee charged when listing an NFT. The Maker fee is only charged to the seller when their listing is sold, or to the buyer when their offer is accepted. Fees are only charged at the point of sale.

Magic Eden's Launchpad charges a $1 (SOL equivalent) fee for using the platform, covering the costs associated with providing a user-friendly interface, maintaining the Launchpad infrastructure, and supporting creators.

Magic Eden supports four primary currencies for transactions: Solana (SOL), Ethereum (ETH), Polygon (MATIC), Base (BASE) and Bitcoin (BTC). These blockchain networks offer robust features and widespread adoption in the NFT community.

Most people interested in creating and selling NFTs are digital creatives. So in short: Yes, it is hard to sell an NFT unless you already have an audience. As with anything, you need to find your buyers, and they don't come just because you uploaded something on a marketplace or website.

How to convert NFT to cash? ›

If you're using a MetaMask wallet, simply click on the “Send” button and copy and paste the address of your crypto account. It will take a few minutes to receive the money in your crypto account. Once you have received the money, you can sell it on the crypto exchange you use to convert it to fiat.

The amount of money you can earn from creating an NFT depends on the market demand for the NFT, the quality of the artwork, and the platform you are using to create and/or sell the NFT. Some creators have earned millions of dollars from the sale of their NFTs, while others have earned much less.

The airdrop scam involves receiving a fraudulent NFT airdrop, such as a "Magic Eden" Mystery Box or a Summer Box, claiming to be an official Solana NFT. Scammers use bots to identify recent transactions and send their scam tokens to those addresses.

On the Auction page, the Auction Wallet section will be your dashboard for fund management. Locate the box displaying your Auction Wallet's address and balance. Two buttons, “Deposit” and “Withdraw”, allow interactions.

Technically speaking, yes, you can sell your NFT on different marketplaces. But it's not the best idea and will certainly ruin your reputation.

The Magic Eden Aggregator is a game-changer for the NFT marketplace, offering a unified and user-friendly platform for trading across diverse networks like Solana, Polygon, Base and Ethereum.