A deep dive into how the NFTs emporium processes your sales and purchase transactions. How NFT Transactions Are Processed?

Transparency For Verified Smart Contract Code

AirNFTs being an emporium for exploring, buying, selling, and amassing digital arts and collectibles, its main source of revenue emanates from the 2.5% commission rate on sales effectuated on the platform.

The logic abaft the commission fee can be visually perceived directly from our contract code deployed and verified on the BSC scan.

Sale Transaction Steps

Here are the major steps that transpire when you click the “Buy” button on a certain NFT page:

  • The system amasses the metadata of the current NFT page, mainly the NFT ID and its current price.
  • It builds a transaction locally that sets the incipient buyer as the next owner if they purchase prosperously the current NFT
  • After building the transaction, the system requests the buyer to approve and sign the transaction that spends mazuma to get the collectible/NFT.
  • When the buyer approves, the transaction gets broadcasted on-chain, it customarily takes 3 to 10 seconds on average afore getting substantiated on the blockchain. How NFT Transactions Are Processed?
  • When the transaction gets substantiated, the ownership of the NFT is transferred from the seller to the buyer, and the fund gets sent to the seller. 97.5% goes to the seller and 2.5% goes to the AirNFTs deployer address.

In the process, we withal top up the seller and buyer AIRT balance, the AIRT will be distributed every a fortnight as an incentive program for all our artists and collectors.

What Transpires When I Can’t Optically Discern The Sale Transaction?

When a sale transpires, the sale funds are sent to the seller as an internal transaction, this denotes that the sale transpires via contract code execution. The current authenticity is that most wallet apps out there are not able to track internal transactions. The authentic sale funds do still reach the seller wallet and the balance is updated afterward.

You can read more about internal transactions not exhibiting on the links belong:

Bitpay ETH Internal Transactions

Trust Wallet Community ETH Internal Transactions

In brief how do you ken you genuinely got mazuma for a sale? When you don’t visually perceive the transaction in your wallet after a sale. This only betokens most wallets don’t fortify NFT sale transactions yet. The balance still gets updated despite the wallet app not exhibiting the transaction. How NFT Transactions Are Processed?

Conclusion

In this article, we covered how AirNFTs execute transactions, we took some time to explicate the mundane. Discombobulation cases that transpire when transactions don’t emerge after-sales.

At the cessation of the day, there’s no desideratum to worry, your NFTs and your mazuma are SAFU at neftivity. Have fun minting and accumulating, buying and reselling your NFTs.