How to put an NFT on Raffle - Tutorial
👋 Hey there! Glad you are here & welcome to our Sqwid marketplace tutorial for Raffles. These resources are made for you to learn about the Sqwid dApp and ensure a smooth process to get you ready for selling your first NFTs on the marketplace.
Briefing - What is this tutorial all about?
If you're new to the world of NFTs, you will definitely come across theoretical and also practical challenges. This tutorial will give you a brief intro in how you create a Raffle using your NFTs.
Relevance - Why do I need this tutorial?
NFTs are probably the hottest tech features in 2022 and our Sqwid dApp built on Reef is an amazing place to publish your NFT collection for a very low minting cost (compared to legacy Ethereum or other layer 1 blockchains in the space).
See our blockchain comparison chart below:
See our NFT marketplace comparison chart below:
Prerequisites - What do I need to get started?
- Reef chain extension
- Reef extension account for Mainnet
- Bind EVM address here.
- An NFT on Sqwid
🎗️ If you have questions at any point feel free to reach out in the Reef Discord Dev Chat!
🚀 Getting started - we are ready to go!
Step1: Visit the Sqwid dApp on https://sqwid.app/
💡 What is special about this decentral application? The Sqwid dApp can be connected to the Reef blockchain. This enables great functionality as described above. Without actually connecting to the dApp, you can just look around and see some featured content. By establishing a connection, you will enjoy the full functionality of the dApp.
Step2: If you have a Reef EVM account with a balance on Mainnet, connect to the Sqwid dApp.
Click on Connect in the top right corner. You will see a dropdown list just like me. Now you can choose your Mainnet account and make sure you choose Mainnet in the tiny dropdown within the list.
⚠️ Important: EVM address needs to be claimed successfully. Here is how
⚠️ Attention: In case you got the polkadot.js extension installed and active, please make sure you disable it. It might interfere with signing the transaction.
Step3: We successfully connected our Reef Mainnet account
As you can see I got some REEF on Mainnet, more than enough to perform some transactions on Sqwid. You can now hit View Profile on the top right and check out your individual space.
Step4: Click on the NFT in Available Items
This is the overview page of our NFT. You can see all the respective data to it. In the bottom left corner you can see Available. These are all the options available for you to perform on your NFT.
Today we want to use this NFT to create a Raffle, so let us click Create Raffle.
Step5: Enter the respective data for Create Raffle & click Submit
Now the Sqwid marketplace is requesting some data: Number of copies & Duration. In addition, we see information about Service Fees, which are 2.5%
💡 What is the concept behind a Raffle? Its a fun and gamification like concept, where users can add funds to a pot. The more funds a user is adding, the higher the chance to win. When the time is up, the system will automatically distribute the NFT to the winner. The funds in the pot will be sent to the creator of the Raffle.
Step6: Click Submit and sign the transaction
Step7: Check the status of your transaction
You can see another option now in the bottom left corner which is called Raffle. You can also see the Total Raffle Value, Participating Addresses, and the specified Deadline (3 days).
Step8: Click Raffles to see if your NFT is properly listed
There we go! The NFT is successfully listed in Raffles. You can see the remaining time: approx. 3 days are displayed on top of the preview. You can also see the Entries and Accumulated Value of this Raffle.
Step9: Enjoy more features on the Sqwid marketplace
Congrats on your first Raffle using your NFT! Now you're set up and ready to Put on Sale, Create Auction, or Create Loan Proposal.
We are going to look at these features in the next videos. Stay tuned!
Debriefing - What are the most important takeaways from this tutorial?
📖 You learned how to use an NFT for creating a Raffle on the Sqwid marketplace.
✅ Understood the basics of NFTs and their features
✅ Getting comfortable with a decentral application and establishing connection to the Reef blockchain
✅ Created first Raffle Proposal suing your NFT
Check out more tutorials about the Reef ecosystem here on our blog and stay tuned for more detailed videos on sales, loans, and auctions on the Sqwid dApp.