TofuNFT - The First Multichain NFT Marketplace - Market247.io
In the market of NFT marketplace, TofuNFT had a great breakthrough when it became the first Multi Chain NFT marketplace. So, which special features does TofuNFT have? Let's learn about that TofuNFT marketplace through today's article.
What is TofuNFT marketplace?
TofuNFT is a fully featured decentralized marketplace that was developed by SCV.Finance and deployed on multiple blockchains. It is used for buying, selling, and trading non-fungible tokens (NFTs).
In the past, this marketplace was referred to as the "SCV NFT marketplace," and it functioned using a combination of the features found in DeFi and NFT marketplaces. After undergoing a name change to TofuNFT, the site is now entirely devoted to NFTs. They were able to successfully launch the full product in November 2021, after having successfully published the beta version in September 2021. Users are permitted to take advantage of gas-free listings within both the fixed pricing and auction sub-fragments of the marketplace. Additionally, buyers and collectors of NFTs have the ability to acquire and upload NFTs with price tags denoted in a number of distinct currencies.
TofuNFT already has support for ERC-721 NFTs, and the developers have plans to add support for ERC-1155 in the near future.
Features of TofuNFT Marketplace
Tofu NFT marketplace offers features that other traditional NFT marketplaces can only wish for. Once Layer-2 and Layer-0 protocols are perfected, the platform will be the go-to NFT marketplace. Furthermore, the DApp has over $3 million in volume traded over a 30-day period across all 20 blockchains supported. While this figure pales in comparison to OpenSea's 30-day volume of $959 million, the tide may turn in the future as the blockchain becomes more connected and interoperable.
TofuNFT, like other NFT marketplaces, offers some basic features. First, it offers collections of NFTs minted under the same contract on chain, such as CryptoPunks or Polychain Monsters. Second, TofuNFT keeps you up to date on market activity. Almost every operation, including Listing, Bidding, and Sale, will generate an activity. Third, based on your and your liked NFTs' activities, tofuNFT sends you notifications via Telegram bot, such as Item sold, Outbidded, and so on. Fourth, the searching and filtering features make it easier for users to find NFT.
How To Buy NFT On Totu NFT Marketplace?
If you want to buy NFT from this marketplace, here is a step-by-step instruction.
- Go to the TofuNFT website.
- Look for the NFT you want to purchase.
- Choose the NFT you want to purchase.
- You have a choice now. Purchase it directly or bid on it.
- Connect your wallet.
- Finish the transaction.
- Wait to be confirmed.
How to sell NFT on TofuNFT?
To sell your NFTs, go to your profile page, which lists all of the NFTs in your wallet. The Profile page includes powerful filters to assist you in finding NFT to sell. The Fixed Price and Auction buttons can be found after opening the NFT detail page. You have several options for selling NFTs on Tofu.
A fixed price sale is a standard sale in which you set a price for your NFT and others can pay to buy it. The total revenue is the payment of less market fees and royalties.
The auction begins with the starting price and lasts for a set amount of time. During this time period, the highest/last bid will win your NFT.
Accept Purchase Offers
An Offer to Purchase is a price-based offer made by buyers who want to purchase an NFT. It is not required; receivers or sellers may accept, reject, or simply ignore it. As a result, it is recommended that you research the average market price before placing your bid. The higher the price you set, the more likely the seller will accept your offer.
tofuNFT now includes Package Listing support for single contracts. Bundle listing means you can combine up to 50 NFTs into a bundle and sell it in tofu at a fixed price or at auction. It would be extremely useful if you have a large number of NFTs at a low price that you want to sell in bulk to save time.
How much is TofuNFT's fees?
The Tofu marketplace charges a fee of up to 5% on all Binance Smart Chain trades. It is a tiered transaction fee structure based on a user level, with the amount of staked SCV on scv.finance and trade volume on tofuNFT determining the fee structure. It is critical for tofuNFT to provide stable and sustainable market infrastructure for everyone.
TofuNFT takes a fixed 2.5% fee from every trade made on other chains such as Polygon, Ethereum, and others.
Which Wallets does TofuNFT support?
Currently, TofuNFT support the following wallets:
- Wallet Connect
- Trust Wallet
- Coinbase Wallet
tofuNFT(V2) is scheduled to go into beta before the end of September, with all basic features released in October and all M2 features released in November.
That is some understanding about the TofuNFT marketplace. Hopefully this article provides useful information about TofuNFT for you. If you have any further questions, feel free to leave us a comment in the section below.
FQAs about TofuNFT
What blockchains is tofuNFT compatible with?
Binance Smart Chain (BSC), Ethereum, Polygon, Avalanche, Fantom, and Arbitrum are currently supported by tofuNFT. We're working to get it on more blockchains.
What currencies are available on tofuNFT?
TofuNFT currently only supports the native on each blockchain. Support for multiple currencies will be added in the future.
How can I report a fraudulent NFT?
Despite the fact that tofuNFT is a peer-to-peer trading market, any fraudulent content that violates copyright or our Terms of Service will not be tolerated.
If you believe an NFT is fraudulent, you can report it by clicking the "..." button on the NFT's image. Once we confirm the report, we will cancel the NFT contract.
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