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    KnownOrigin - An Artist-Driven NFT Marketplace - Market247.io

    ByJasmine
    Sep 21, 2022

    Non Fungible tokens (NFTs) have gained enormous popularity recently, leading to the emergence of brand-new NFT exchanges. An artist-driven NFT marketplace called KnownOrigin specializes in digital art. In this article, we will learn about KnownOrigin NFT marketplace.

    knownorigin

    What is KnownOrigin?

    Built on Ethereum, KnownOrigin was one of the first marketplaces for NFTs and was released in 2014. The marketplace has decided to concentrate on the sale of digital artwork rather than also providing an option to purchase digital music or virtual things from within games.

    Tokens can be minted in addition to editions, artists can identify collaborators for the purpose of fee splitting, and tokens can be listed with a myriad of auction methods, pricing, and other factors to choose from.

    Because it has such a strong emphasis on art, KnownOrigin is equipped with a more comprehensive set of features that are geared toward the welfare of artists and the development of a talent pool on its platform. For instance, artists are required to submit an application in order to have an artist profile, during which they must present a portfolio and a synopsis of their work as part of the application process.

    In the course of its efforts to provide support for its artists, KnownOrigin offers a number of additional services, such as a trending tool that draws attention to artists and promotion opportunities for artists by including them in drop events.

    What is advantages of KnownOrigin?

    Here are some pros that KnownOrigin offers users.

    Extraordinarily selective

    Since NFT art is vetted for the site, there is a significantly reduced risk of seeing spam or fraudulent accounts.

    The royalties are very hefty.

    On each secondary sale of their NFTs generated utilizing the platform, creators earn a 12.5% commission, which is 2.5% more than OpenSea offers.

    Provides support for numerous wallets.

    Wallets such as the widely used MetaMask and WalletConnect are supported by KnownOrigin.

    Platform is clean and uncomplicated.

    The postings are straightforward to understand, and the ownership history is presented in a format that is not difficult to comprehend.

    How much fees on KnownOrigin?

    knownorigin nft

    ETH is used for the payment of all fees and transactions entirely.

    The artist who lists the digital artwork for sale on KnownOrigin is entitled to collect 85 percent of the sale price, with the remaining 15 percent being paid to KnownOrigin in the form of a commission charge. This applies to all primary sales, also known as the initial sale on KnownOrigin.

    When there is a secondary sale, often known as a resale, the seller is entitled to collect 85% of the total transaction price. The remaining 15% is split between the artist who created the work and KnownOrigin in the following proportions: 12.5% goes to the original artist, and 2.5% goes to KnownOrigin marketplace.

    Which wallet KnownOrigin support?

    You will need to have access to a Web 3.0 digital wallet in order to purchase NFTs. KnownOrigin NFT marketplace is compatible with a variety of crypto wallets, including MetaMask, WalletConnect, Coinbase Wallet, Fortmatic, Portis For any and all transactions on that NFT marketplace, you will need ETH.

    How to sell on KnownOrigin?

    The three steps to selling an NFT are as follows:

    • Join a wallet: Go to the site and, on the top right, select Connect wallet. Select your Web 3.0 wallet and verify the connection. NFTs purchased or created by KnownOrigin should now be visible on your Profile page.
    • Choose an NFT to sell: Select the NFT that you want to be listed on the KnownOrigin marketplace from your Profile page.
    • Select a method of sale: Choose between an auction-style sale and a buy now price.

    How to buy on KnowOrigin?

    To make a purchase, you'll need to connect to wallet..

    • Join a wallet: Select Connect wallet, and then select the required wallet. Once connected, you'll see a link to your profile.
    • Look through the listings: Choose the NFT you want to purchase and confirm the transaction. Browse the primary marketplace for new items or the secondary marketplace for resold artwork: There is also a search bar where you can look for specific creations.
    • Finish your purchase: If the artwork is sold during an auction, place a bid and wait for the auction to end. If you are the auction's winning bidder, you will be notified to confirm the ETH transaction in your Web 3.0 wallet. If the artwork is available for purchase now, click Buy and confirm the ETH transaction details in your connected wallet.

    How to mint an NFT on KnownOrigin?

    On the KnownOrigin platform, here is a short tutorial that will assist you in minting your first piece of NFT art.

    After you have been authenticated, you will be able to submit your artwork by going to your profile, selecting the box that says Upload and Manage Artwork, and then entering the information that is required.

    Fill in the information about the artwork, such as its name and description. The maximum number of members in an edition that may be supported by the platform is 25.

    You have the option of selecting the Accepting offers only setting so that you may determine whether or not a collector will make you an offer rather than purchasing your artwork at the buy now price directly from you.

    Determine the appropriate pricing for your work. At this time, 0.01 ETH is the lowest price that may be paid.

    Check to see that your artwork complies with the terms and conditions of KnownOrigin as well as copyright regulations. There is also an option to specify a selling date and start time on the form that you use to mint the coins. You are permitted to use up to 25 tags while you are tagging your NFT artwork in order to assist in the categorization of your work and to make it visible on third-party websites.

    Ebay acquired KnownOrigin

    ebay buys nft marketplace knownorigin

    In June of 2022, it was revealed that the online retailing company eBay had purchased KnownOrigin. This was part of eBay's shift toward digital collectibles; just the year before, it enabled NFT sales on its own platform, thus the change fits in with the company's overall strategy.

    Despite the fact that eBay's native NFT sale feature has a high maximum bid and requires both the buyer and the seller to be located in the same nation, among other restrictions, this acquisition indicates an expansion of eBay's possibilities.

    Conclusion

    The article covers all things about NFT marketplace KnownOrigin. If you have any questions related to that NFT marketplace, please share with us in comment section below.

    FQAs about Knownorigin

    How do artists on KnownOrigin get paid?

    Artists receive 85% of the original fee of a sold artwork for a primary sale, with the remaining 15% going to the platform. Secondary sales earn the seller 85%, the artists 12.5%, and the platform 2.5%.

    How to join as an artist?

    Users who are interested in becoming artists on the site are need to go through the application process provided by KnownOrigin. This involves the presentation of a portfolio together with an explanation of why such a thing would be an advantageous addition to the platform. There is a review process, and artists' access is granted in batches on a weekly basis.

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