4 Things You Need to Know About Tezos NFTs

Ethereum still rules the NFT landscape. Nonetheless, there are other blockchains active with NFTs. No wonder if you look at the high gas fees on Ethereum. One of these successful contenders is the Tezos blockchain.

Tezos is fast, cheap, and scalable. It’s also secure, and they have a unique feature. The Tezos blockchain can self-amend. They also started with NFTs when these became popular. So, let’s have a look at Tezos and its NFTs.

Where to Buy Tezos NFTs?

At the beginning, there was Hic et Nunc. It’s Latin and means “here and now.” This was the first NFT marketplace on Tezos. However, in November 2021, it shut down. Without any further explanation. Users didn’t lose their NFTs, since they are immutable. They were and are still on the blockchain. It’s interesting that the Hic et Nunc smart contracts still work. You can still trade on H+N, and they rank high between other Tezos marketplaces. It’s now a mirror site, and the community runs it with a DAO. However, this opened the door wide open for alternatives. Here’s a dedicated article on Tezos NFT marketplaces.

On the Tezos chain, there are a few NFT marketplace options.

  • Objkt — The most popular and largest option. The Tezos version of OpenSea with a volume of $2.2 million. We already dedicated an article to Objkt.
  • Hic et Nunc — Still second biggest in volume at $356,000.
  • Teia — Almost like a clone of Hic et Nunc, but popular on Tezos.
  • 8bidou — A newcomer that grows in popularity.
  • Kalamint — One of the OGs on Tezos.
  • Rarible — Offers Ethereum, Solana, and Tezos NFTs. You can also find Immutable X, Solana, and Flow NFTs here.
  • OneOf — For sports memorabilia and music. Quincy Jones is part of this marketplace. 

Tezos NFTs

Source: DappRadar

How Do You Buy Tezos NFTs?

For starters, you need a Tezos-compatible wallet. You can trade and store crypto or Tezos NFTs with them. There are plenty of options available. So, let’s have a look at some of them.

Your next step is to get some XTZ, the native Tezos token. XTZ is also referred to as “Tez.” With XTZ, you can pay for the gas fees. You can buy this token at every major CEX, including Binance.US.

So, now you’re all set to start buying your first Tezos NFTs. As with every marketplace, you have two costs. First, the cost of the NFT and, secondly, the gas fees. So, visit your favorite Tezos NFT marketplace and let’s go shopping.

  • Browse the marketplace and find an NFT you like to buy.
  • Find out how the NFT is on offer for sale. A fixed price or by auction.
  • With a fixed price, click on the NFT and confirm that you like to buy it.
  • Confirm in your wallet.
  • If it’s an auction, place your bet and wait until the auction finishes.

Tezos NFTs

Source: Rarible

How Do You Sell Tezos NFTs?

Selling an NFT can be from two different sources. Maybe you minted the NFT as the creator and now want to sell it. We discuss minting on Tezos in the next question. On the other hand, you can also sell an NFT that you already possess. Either way, you will have to list your NFT on a marketplace so you can sell it. First, make sure you have some XTZ in your wallet to pay for the gas fees. So, let’s list our Tezos NFTs.

  • Go to the marketplace menu and select the NFT you like to sell.
  • Click on the “Sell” option.
  • Fill out for how much you like to sell it for. You can also state for how long you want the NFT on sale.
  • If you opt for an auction, state what kind of auction you prefer, an English or Dutch auction. Set a minimum or starting price.
  • Review and, when all looks good, hit the button that confirms your listing.
  • Check the gas fees in your wallet and confirm the transaction. 
  • Your NFT is now for sale.
How Do You Mint Tezos NFTs?

Minting NFTs varies per platform. This also counts for the Tezos NFT marketplaces. However, they all follow more or less the same pattern for minting. To begin with, make sure that you have enough XTZ for the mint. To illustrate, a typical mint on Tezos costs around 1 or 2 Tez, or $1.50 to $3.

  • Connect a wallet to your marketplace and, if needed, sync.
  • Look for a “Mint” button and hit it.
  • Now you will see a few fields, like “Title,” “Description,” “Royalties,” or “Tags.” Fill them out.
  • Set how many NFTs you want to mint. 
  • After you sign the contract, you can’t change the number of NFTs to mint or the royalty percentage.
  • Click which kind of file you want to upload. For example – jpeg, gif, mp4, wav, etc.
  • You may get an option to preview. So, if all looks good, you can hit the “Mint” button.
  • Total minting costs will appear and confirm this on your wallet.

That’s it, you created an NFT. Most or all marketplaces have easy-to-follow instructions on how to mint. The following video shows how you can create and list Tezos NFTs.

Conclusion

In this article, we answered some popular questions about Tezos NFTs. So, now you know where and how to mint, buy, and sell these NFTs. That leads us to the current price of XTZ, as mentioned by CoinGecko.

An XTZ coin is currently worth $1.53. The market cap is $1.389 billion. There’s an infinite amount of XTZ and 901 million are circulating.

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