How to consign an NFT
Consigning your NFTs on Pawnfi has the following advantages:
Upfront payment: You will get an upfront payment once the order is submitted. This will maximize capital efficiency and you don't need to low ball your listing price.
Low service fee: Pawnfi will only charge 1% of the price difference between sale price and upfront payment as service fee.
1. Sell -> Consign
2. Select an NFT
3. Select Duration and set Sale Price
Duration: The real timeframe the NFT is no longer placed on marketplace.
Grace Period: During grace period, NFT is no longer placed on marketplace. You can still retrieve your NFT once you pay back upfront payment and custody fee. NFT will be liquidated when grace period expires.
Sale Price: Currently only P-Token is supported for settlement.
4. Confirm parameters -> Approve -> Submit transaction
Based on your days for sale (consignment duration) and interest rate, withholding custody fee will be deducted from upfront income. A portion of custody fee will be refunded if the item is sold out earlier.
Custody fee = 0.274 P-Token per day (10% APR)
After confirming all the information, click [Approve] button to approve the transaction. After approval, click [Submit] button to initiate transaction.
5. How to cancel consignment?
You can access to [Dashboard] and find [My Records] to review the consignment status.
In the detail page, you will be able to see all information of this order. Click [Approve] to authorize repayment. After approval, click [Repay] to initiate transaction. You can redeem your NFT after repaying your upfront income along with the custody fee during the period.
6. How to claim sale proceeds?
If someone buys your consigned NFT, sales proceeds will be directly sent to your wallet.
Last updated
