What is Arbitrum One?
Arbitrum One is a layer 2 solution created by Offchain Labs. The team solves Ethereum scalability with multi-round interactive Optimistic Rollup (i.e. one of the mainstream layer 2 solutions). For more about Arbitrum One, please click here.
imToken now supports the receiving, sending, and trading of NFTs on Arbitrum One.
Note: Arbitrum One is Arbitrum in your imToken wallet.
How to send and trade NFTs in your Arbitrum One wallet?
Preparation:
- Switch your ETH wallet network from Ethereum to Arbitrum.
- Deposit ETH in your Arbitrum wallet to pay Gas fee since trading on Arbitrum requires ETH as Gas fee.
You can deposit ETH from the Ethereum mainnet to Arbitrum by following the tutorial below.
Sending an NFT
1. Open your Arbitrum wallet and click the “NFT” portfolio to see all the NFT items you have. Besides, the corresponding NFT image will be shown if you click on its name. Moreover, the basic information and trade history of the NFT will be displayed when you click the image.
2. Choose the NFT you want to send to enter the page showing its details. Then, click “Send” and fill in the receiver’s address. After that, click “Next” - “Confirm”.
Trading an NFT
1. Click “Trade” to enter the page for selecting marketplaces. Take OpenSea as an example here.
2. Click “Sell” to enter the NFT listing page where you can set up the “Type”, “Price”, and “Duration” of your trade. Click “Complete listing” if you have confirmed all the information. After that, on the Approve collection page, click “Confirm” again to pay Gas fee to grant the approval.
Note:
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Collection approval is required for selling NFTs of a collection for the first time. Later, you only need to sign trade messages if you sell NFTs of the same collection.
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An NFT can be listed at a fixed price or in a timed auction. This tutorial will show you how to list an NFT at a fixed price, which is commonly used. You can learn more about OpenSea through this tutorial: How to create and trade NFTs on OpenSea?
3. After the approval, a page will show up for you to sign a trade message. On the page, click “Confirm” to list your NFT. You can see all the listed NFTs through “View listing”. If the NFT is sold, the tokens paid by the buyer will be automatically sent to your wallet address with fees deducted.
Note: the fee includes an OpenSea service fee (2.5%) and a creator fee, which is set by the creator.
End
For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also supports users to manage NFTs on Ethereum and Arbitrum One.
Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Tokens investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.