In this guide, we'll show you how to navigate Rollbit's NFT marketplace to buy NFTs, how to deposit NFTs to list and sell them, as well as how to stake your Rollbots to earn a share of the marketplace's profits.
Navigating the Rollbit Marketplace to Buy NFTs
Rollbit’s NFT marketplace is unique and user friendly since you can purchase NFTs without dealing with the cost of expensive network fees on Ethereum!
We’re lowering the barriers for new investors by giving them an opportunity to use Bitcoin (BTC), Litecoin (LTC) or Ethereum (ETH) to buy NFTs through our marketplace.
Let’s look at how the Rollbit NFT marketplace works.
NFT listings can be filtered by collection (list of supported NFTs can be found here) and by owner. Another filter is also available with the options of lowest price, highest price, rank or best deals. Lowest and highest price filters are self explanatory!
When filtering by rank, the owners of NFT with the highest revshare are displayed first. For filtering by best deals, you’ll be shown the NFTs that are listed with the lowest price relative to their estimated worth so you can pick up some bargains.
If you go to ‘Manage Rollbots’, and then go to the marketplace, you can add Rollbots to your collection from the ones that are on sale.
To purchase one of the NFTs listed on Rollbit’s marketplace, click on the Buy button and then a confirmation screen will pop up, then click on ‘Buy Now’. The fee for each transaction on our NFT marketplace is 5% and there are no Ethereum gas fees to worry about!
Once you’ve made your purchase, the NFT will instantly appear in your portfolio. You can then keep the NFT on your Rollbit account, add it to a Rollbox as a prize, sell it on our marketplace at a later date or withdraw it to your Ethereum wallet.
Depositing and Listing NFTs on Rollbit’s Marketplace
One of the biggest benefits of Rollbit’s NFT marketplace is that we only permit listings for collections that are whitelisted by us, meaning that there’s zero chance you’ll buy fake NFTs (which have duped even experienced buyers on marketplaces like OpenSea). Our users can always recommend an addition to the NFT whitelist in our #suggestions channel via our Discord server.
How to Deposit NFTs to Your Rollbit Account
To sell a NFT on Rollbit's marketplace, you must first deposit it. The process is straightforward and is shown in the video below. Go to the deposit button and select ‘NFT’.
Ensure that the associated address is the same as your MetaMask wallet address. Once you have linked your Ethereum address from MetaMask to Rollbit, you’ll then see the NFTs you’re holding in your wallet appear under Available NFTs.
Click on the deposit button, then MetaMask will pop up and display the Ethereum network fee required to make the deposit. Ensure you have enough ETH in your wallet to send the NFT to your Rollbit account. Once you have authorised the transaction, you can check the status of your deposit from the NFT section of the Deposits page.
When the transaction via MetaMask has been confirmed, your NFT will appear in ‘My NFTs’. Now you know how to deposit NFTs to Rollbit, you can then list your items for sale using our gasless marketplace.
For most existing marketplaces, you have to pay a listing fee and another fee to execute the smart contract on Ethereum, the latter of which can be very costly. Rollbit’s NFT marketplace avoids all gas fees associated with Ethereum and gives users a much better experience as well as saving them a lot of money.
Selling NFTs on Rollbit’s Marketplace
To list a NFT for sale, click on the three dots on the top right-hand corner of the item you want to sell and select ‘List for sale’. Then enter a price for your listing. A suggested range of prices (based on the rarity of your NFT and market conditions) are displayed to help you set a listing price. Click on 'list for sale’ and the NFT will be put up for sale in our marketplace.
You can update the price or unlist your items at any time. Click on the three dots at the top right-hand side of the NFT that’s up for sale and select ‘Update price’ if you want to change the listing price or ‘Unlist’ to remove the listing from the marketplace.
Your history of sales is also shown by going to 'My Sales' from the NFT section of the sidebar menu.
Staking Rollbots for Profit Sharing
Rollbot owners can stake their Rollbots to earn a share of the marketplace’s profits. Half of our marketplace profits will be distributed to holders proportional to the market shares they have staked each day. For instance, if you have 2,000 market shares staked, you’ll earn twice as much as compared to the case where you only had 1,000 market shares staked.
How to Stake Your Rollbots
To stake your Rollbots, go to ‘Manage Rollbots’ then head over to Portfolio, which shows all the NFTs you’re currently holding in your Rollbit account. Click on the three dots on the top right-hand side of the Rollbot you want to stake and then click on ‘Stake Rollbot’.
You’ll then receive a notification that your Rollbot was staked in the bottom left-hand corner. Go to ‘Manage Rollbots’ from the sidebar menu and then go to 'Staked’ to see the Rollbots you have staked, your percentage of market shares and to claim your earnings.
Your Earnings from Rollbot’s Marketplace
Earnings for Rollbot stakers can be claimed weekly, every Thursday at 19:00 UTC.
The formula used to calculate your earnings:
Profit sharing = (Your Market Shares Staked)/(Total Market Shares Staked) x 0.50 x MarketplaceProfits
There are a total of 3,625,000 market shares. Look at the market share percentage you have and the total market shares you are staking to calculate how many shares are being staked out of a maximum of 3,625,000. For example, the screenshot below shows that a total of 1,200 market shares are staked for this account and their market share percentage is 0.09%.
To calculate the total market shares that are staked:
= 1,200/Total Market Shares staked = 0.09%
Convert 0.09% from a percentage to a decimal number to get:
= 1,200/Total Market Shares staked = 0.0009
Then re-arrange to obtain the total market shares staked:
= 1,200/0.0009 = ~1,333,333 market shares
You can use this spreadsheet to estimate earnings from your staked Rollbots for different scenarios. Make a copy of the spreadsheet and you can change the numbers in the ‘Staked’ column (column F) to see the different outcomes.
How to Unstake Your Rollbots
You can unstake a Rollbot at any time, at which point you will stop earning a share of the marketplace’s profits (although payouts will still be sent for the duration you staked your Rollbot for).
Once a Rollbot has been unstaked, a notification will appear on the bottom left-hand corner. You can also unstake all Rollbots at once using the button on the top right.
Once unstaked, your Rollbot will appear in your portfolio on the ‘My NFTs’ page and under the Portfolio tab in the 'Manage Rollbots' section and you can then use it to create Rollboxes or link it with your profile to apply Rollback to your account.
Future Marketplace Improvements
As stated in our Rollbot NFT whitepaper, the initial release of our marketplace will be basic, but we'll gradually add more features over the coming weeks and months.
Some of the additional features for the marketplace we're working on:
- The ability to bid and bet on NFTs,
- Display interesting metrics about the marketplace, including the total number of items listed, sales history, total volume traded and more,
- Better navigation with more filters so you can narrow down rarer items within a collection,
- Add more NFT collections to our whitelist and introduce support for NFTs based on other token standards (e.g., ERC-1155 tokens).
-The Rollbit team