How to swap 🔃
swap
1: (noun) an act, instance, or process of exchanging one thing for another
2: (verb) to set a price for your OBJKT
If you have just minted some objkts or you have unsold objkts, its time to Swap them - that means pricing some or all, for collectors to buy. Note - you can't swap objkts that are already swapped, have already been collected, or if you don't have enough tez to pay the fees. You won't see Swap, Burn, Transfer options or be able to cancel swaps if you haven't synced the account that owns them. You don't need to swap all of the objkts you own. Many artists like to keep one or two, either as 'artist proofs' or for gifting etc.
Pricing is a tricky area that can be based on how big the edition size is, how well known and liked you are for your artwork, and how well you market it. Another consideration is how much you want for the work, not considering collectors and the current market. Pricing consistently and with some thought will influence some collectors.
If you're considering pricing very low (0.01 tez for example) or free, consider the fact that bots or bottom-dwelling flippers may buy many (sometimes all). When collectors view the objkt history they will see the churn of low price activity that such flippers create and it can reflect badly on how responsible collectors will view both the work and you as an artist. You can give away manually, or try to regulate flipper action by swapping in blocks at different times (this also helps collectors in different time zones).
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Click on your OBJKT's link to see the details. If you are synced to your wallet, you should see the "Swap" option next to History. (If you don’t see these options, then you have to sync your wallet again.)
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Click on Swap.
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Input how many OBJKTs out of your edition that you want to set for sale. For example, If you have
10, and you want to keep1, and sell9, then input9. If you want to sell all of them, input10. -
Input how much each edition should cost in Tezos.
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Click the "swap" button. You will be prompted to approve the transaction in your wallet app.
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The user interface will update you on the transaction or you can check in your wallet (look at 'activity' in Temple wallet). Once the transaction approves, your objkt/s are for sale to collectors. Go out and tell the twitter world...
You can use hicdex
You can use the Cryptonoises telegram bot [https://cryptonoises.com/] to get a notification every time something sells. We have Andrii Bakulin to thank for this very useful tool. Support him if you are able. https://twitter.com/cryptonoises
Important: When you swap objkts they are no longer in your wallet. You send those OBJKTs out of your wallet to be held in a Teia escrow wallet, ready to be transferred to the buyer, which is why they're no longer visible in your wallet. Once the blockchain transaction finishes, the OBJKT is available for purchase at the price set, and your wallet should indicate that you sent that amount of OBJKTs.
Proceed to How to cancel ❌ to learn how to take your OBJKT off the market or change the price.
You might be trying to swap more editions than you minted, or your object is still for sale and you need to cancel it first.
Help, I get this message that 'something seemed to hang'. This can happen if the transaction was stopped for any reason. If the wallet app seems to close before finishing, try unsyncing and resyncing. Also, if you have multiple accounts, check that you are using the correct one for that account (if you change accounts you might need to reload the page so that the page is aware of the new account.
Finally, if you use a browser based popup wallet, it may be that its still waiting for a 'confirm'. The popup can get hidden behind the main window.
HELP! I keep getting the BACKTRACKED error and I'm using temple wallet! (transaction likely to fail)
You will have to manually set max storage fees (it only charges the storage fee that was really used in the operation).
mint - set storage to 310
swap - set storage to 180
If raising storage fees doesn't work, you'll have to switch to using Kukai wallet. You don't need to make a new wallet to do this. Here is a video tutorial on how to import your wallet to Kukai.