Shops FAQ

What are shops?

Shops have instant Buy buttons and (optionally) a banner image. Here’s a great example

How can I get a shop?

You can apply for a shop here! Currently we’re just creating new shops for creators. Please keep in mind, the team is super busy right now, improving the experience for creators and collectors. For this reason, we’re growing Rand Gallery’s family of amazing creators gradually

How much do shops cost for sellers?

2.5% of purchases (remaining 97.5% goes directly to your personal account, even if it’s on Ledger)

Where do NFTs stay?

Rand will mine a vanity address for you (~3 characters), and give you the passphrase. You own this Shop account, and can add/send NFTs to it, which then appear in your Shop. Please note, the Rand servers will know the Shop account’s passphrase, so the servers can sign transactions for atomic transfers. This allows Rand Gallery to create an easier experience for Buyers, but it is a tradeoff you should be aware of. If you prefer a smart contract approach, check out ab2.gallery.

What’s an atomic transfer?

With atomic transfers, a group of transactions either all succeed or all fail. So the Buyer only pays Algos and your Shop only sends NFTs if everything goes through, otherwise the atomic transfer gets denied and people keep their Algos/NFTs.

Where do sales proceeds go?

The sales proceeds (97.5%) go directly to your personal Algo account. Even if it’s a Ledger account. The Buyer actually sends it directly to your personal account, so you’ll have access to those Algos immediately after a successful atomic transfer.

How do I add a banner?

You can upload banner images from your shop admin page.

How do I add Buy buttons?

You can set prices for NFTs from your shop admin page. Updating prices is easy too.

You can even do reverse auctions, by setting a high initial price, then lowering the price until someone buys.

What kind of NFTs can I sell?

Artwork and gaming NFTs are allowed, as long as they are safe for work. Security tokens and investments are not allowed. Also, the NFT creator must owner the rights to sell the artwork in the NFT.

We don’t allow any NFT from a collection/project that distributes or advertises the distribution of royalties to NFT holders, as this makes the NFT a security/investment.