Part 1: If You Want To Auction Your NFT
1. Navigate over to the “Owned” tab on your Holaplex site.
2. Wait for the artwork to load and look for and click on the small “Sell” button near the top on the right side.
3. The two options I use are Instant Sale & Limited Edition.
- Instant Sale: Sell your NFT for a set price as a “Buy Now” sale.
- Limited Edition: Auction your 1/1 NFT.
Instant Sale
1. Select your NFT and set the price.
2. Review & Publish.
Limited Edition
1. Add the NFT and input the amount of copies you want to make. I recommend doing 1/1 on Solana but depends on your style. Click Continue.
2. Next you will set up the pricing.
- “Price Floor”: Starting bid of your Auction.
- “Tick Size”: The amount needed to increase the bidding. Example(Tick Size: 0.25; In order to up the bid from 1 sol, they would have to bid at least 1.25.
Once you’re done, click “Continue”.
3. Ending Phase
- “Auction Duration”: How long the auction will run for.
- “Gap Time”: This is the amount of time you want the bids to reset at once the time is reached. Example (A 2 sol Auction has a 15 minute “Gap Time”; The auction gets down to 5 minutes left before a bid of 2.5 is placed. The timer will then go back to 15 minutes to allow for additional bids.)
- “Tick Size”: In order for winners to move up in the auction, they must place a bid that’s at least this percentage higher than the next highest bid.
4. Participation NFT
This isn’t needed unless you want to give everyone in the auction participation nft.
If you do want one, all you have to do is add the minted nft.
5. Review and Publish!
Now make sure you double check everything and click “Submit” to post your first auction!