Buying NFTs

Complete guide to purchasing NFTs on Lyraverse marketplace.

Marketplace Overview

What is the Lyraverse Marketplace?

  • Integrated Platform: Buy and sell NFTs without leaving Lyraverse

  • HYPE Payments: All transactions use HYPE tokens

  • Instant Transfers: Near-instantaneous on Hyperliquid

  • Low Fees: 2.5% platform fee on sales

Marketplace Features

  • Advanced Search: Filter by collection, traits, price

  • Real-time Pricing: Live floor prices and volume

  • Portfolio Tracking: Your NFT collection at a glance

  • Transaction History: Complete trading history

Finding NFTs to Buy

Marketplace Navigation

  1. Main Marketplace: /marketplace - All listed NFTs

  2. Collection Pages: Individual collection listings

  3. Profile Pages: User's listed NFTs

  4. Search Function: Global NFT search

Advanced Filtering

By Collection

  • Browse specific collections

  • View collection floor prices

  • Check rarity distributions

  • See holder statistics

By Price Range

  • Filter affordable NFTs

  • Find premium pieces

  • Budget-based discovery

By Traits and Rarity

  • Legendary: Ultra-rare traits (≤2%)

  • Epic: Very rare (≤5%)

  • Rare: Rare traits (≤8%)

  • Uncommon: Moderately rare (≤12%)

  • Common: Common traits (>12%)

By Status

  • Recently Listed: New additions

  • Ending Soon: Auctions approaching end

  • Price Drops: Recently reduced prices

NFT Evaluation

Key Metrics to Check

Price Analysis

Rarity Assessment

  • Trait Rarity: Individual attribute frequencies

  • Overall Rank: Position in collection rarity

  • Unique Combinations: Special trait pairings

  • Floor Impact: How traits affect minimum prices

Creator Reputation

  • Collection Size: Supply and holder count

  • Community Size: Discord/Telegram members

  • Trading History: Volume and price stability

  • Creator Background: Artist credibility

Due Diligence Checklist

  • ✅ Contract Verification: Check on Hyperliquid explorer

  • ✅ Creator Legitimacy: Research collection creator

  • ✅ Community Feedback: Read holder reviews

  • ✅ Rarity Accuracy: Verify trait calculations

  • ✅ Price Fairness: Compare to similar NFTs

Step-by-Step Buying Guide

1. Wallet Preparation

2. Find Desired NFT

  1. Search Marketplace: Use filters and search

  2. View NFT Details: Click on NFT card

  3. Examine Traits: Check rarity and attributes

  4. Review Pricing: Compare to floor and recent sales

3. Review Purchase Details

4. Execute Purchase

  1. Click "Buy Now": Initiate purchase

  2. Review Transaction: Verify all details

  3. Approve in Wallet: Sign transaction

  4. Wait Confirmation: 3-5 seconds on Hyperliquid

5. Verify Receipt

  1. Wallet Notification: NFT appears instantly

  2. Profile Update: New NFT in collection

  3. Transaction Hash: Viewable on explorer

  4. Ownership Confirmed: Fully transferable

Understanding Fees

Complete Fee Breakdown

Fee Categories

Platform Fees

  • Fixed Rate: 2.5% on all marketplace sales

  • Automatic Deduction: Calculated at purchase

  • Revenue Purpose: Platform maintenance and development

Creator Royalties

  • Variable Rate: 0-25% set by creator

  • Secondary Sales: Only on marketplace transactions

  • Creator Revenue: Supports ongoing development

Network Fees

  • Hyperliquid Fee: Minimal transaction costs

  • Variable Cost: Depends on network congestion

  • Paid by Buyer: Added to purchase price

Advanced Buying Strategies

Sniping Opportunities

  • Price Drops: Monitor recently reduced listings

  • New Listings: First to buy new additions

  • Collection Dips: Buy during temporary price drops

Rarity Hunting

  • Trait Stacking: NFTs with multiple rare traits

  • Undervalued Pieces: High rarity, low price

  • Future Potential: Upcoming collection launches

Portfolio Diversification

  • Multiple Collections: Spread risk across projects

  • Price Points: Mix budget and premium NFTs

  • Categories: Art, gaming, collectibles, etc.

Risk Management

Common Risks

Price Volatility

  • Market Fluctuations: NFT prices can drop

  • Collection Hype: Artificial price inflation

  • Exit Liquidity: Difficulty selling rare pieces

Creator Risks

  • Rug Pulls: Malicious creator actions

  • Project Abandonment: Creator disappears

  • Quality Issues: Poor or delayed deliverables

Technical Risks

  • Smart Contract Bugs: Rare but possible exploits

  • Wallet Security: Private key compromise

  • Network Issues: Temporary unavailability

Mitigation Strategies

  • ✅ Research First: Thorough due diligence

  • ✅ Start Small: Test with affordable NFTs

  • ✅ Diversify: Don't put all funds in one collection

  • ✅ Secure Wallet: Use hardware wallet for large amounts

  • ✅ Stay Informed: Follow collection announcements

Post-Purchase Actions

Immediate Verification

  1. Check Wallet: NFT visible in wallet

  2. View Details: Examine traits and metadata

  3. Share Purchase: Post on social media

  4. Join Community: Connect with other holders

Portfolio Management

  1. Track Value: Monitor price changes

  2. Set Alerts: Price drop notifications

  3. List for Sale: If looking to sell

  4. Hold Strategy: Long-term holding plans

Community Engagement

  1. Join Discord/Telegram: Collection communities

  2. Follow Updates: Creator announcements

  3. Vote in DAO: If available

  4. Provide Feedback: Help improve collection

Troubleshooting Purchases

Transaction Issues

Transaction Failed

NFT Not Received

Wrong Price Paid

Common User Errors

Insufficient Balance

  • Add more HYPE to wallet

  • Check for pending transactions

  • Calculate total with fees

Network Congestion

  • Wait for lower congestion periods

  • Increase gas limit if needed

  • Try during off-peak hours

Listing Expired

  • NFT sold to another buyer

  • Check listings more frequently

  • Use alerts for favorite NFTs

Happy collecting! Remember: NFTs are speculative investments. Only invest what you can afford to lose. 🎯

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