Algogems is an ever growing and evolving platform. New features are being added regularly, and with each release comes new possibilities! Let’s go through some popular methods you can utilize.
NFT-for-NFT Trading
Algogems offers a simple and free way to swap NFTs and collectibles with whoever you want. You can also add an ALGO cost as well, if needed, to balance out the exchange. The ALGO cost is given to the fusion creator on completion. Let’s take at the simplest option:
Fusion https://algogems.io/fusion/create
1. Enter the ASA ID, or ASA IDs of what you want to receive. Also called components. It is okay to continue if the preview images do not load, it is being imported by Algogems, and won’t prevent listing.
2. Select what you want to offer in return, Also called results. this can be any NFT or collectible you hold in your wallet. currently limited to one result with multiple copies, for multiple uses.
3. Click create and sign the required transactions. No fees are charged to make a fusion. If there is an ALGO cost added, the global marketplace fee of 2% will be taken upon fusion completion.
Private Sales and Exclusive Whitelists
What’s the difference? A private sale is a fixed-price sale, hidden from the marketplace, with a scrambled URL. This is a web2 approach to hiding a sale. A whitelist on the other hand is a web3 way to guarantee only the users you want are able to purchase your listing! Shuffles and packs both support a whitelist. Here is a common example:
Whitelist Shuffle https://algogems.io/shuffle/create
1. Choose a title, description, and a price. Buyers will be able to view this information from your listing page.
2. Select the whitelist slider. You can choose the name, unit name, and amount of WL tokens to create. The tokens will be created by your wallet. Buyers will be able to opt-in to the WL token from your listing page.
3. Add results to the shuffle and from your owned NFTs and collectibles. This can be a combination of any ASA on Algorand.
4. Click create and sign the required transactions. No fees are charged to make a shuffle or WL token. If there is an ALGO cost added, the global marketplace fee of 2% will be taken each successful purchase.
5. Send WL tokens to whoever needs them. 1 WL token is used when buying a shuffle, so to shuffle 6 times and user needs 6 WL tokens.
Tips and Tricks
There are a lot of quality tools offered to every Algogems user! Here are some creative ways to use them, and some features you may not be aware of. Here are some great examples:
1. The minimum listing price can be smaller than an Algorand transaction. for example 0.0001 ALGO. Popular for proof of participation NFTs.
2. A private sale is very convenient for giveaways, or swaps. Sale listings can also hold multiple collectibles. It’s faster to set-up than a whitelist, and easy to share.
3. Buyers can make public offers on your current listings, or un-listed creations. Check them out under Pending > Offers on your user page. You can cancel offers you have made from Listings > My Offers.
4. An offer can be made on any NFT on Algorand, by any user, even if it’s listed elsewhere. Offers can be accepted by anyone holding a collectible, so if there multiple copies, it may be accepted by another holder. Found under Listings of the user page.
5. WL tokens can be sold in their own listing as a form of distribution. This can be private or public. They also make great prizes for giveaways, so it’s good idea to have some extra made!
6. Shuffles can be made with only 1 ASA, or multiple copies of 1 ASA. This works perfect if you want whitelist feature for a fixed-price sale.
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Thank you for reading, GEMS FAM 💎
Wilder Stubbs
GEMS Core Team Member
