The NFT market is a new and fascinating area full of opportunity. Non-fungible tokens (NFTs) are now widely used in Art, Fashion, Collectibles, Sports, Gamefi, Ethereum Name Service and even Unstoppable Domains. The recent developments have invited a lot of attention from the general public, who wants to understand the fundamentals of NFTs.
Since most individuals aren’t familiar with utilizing blockchains to create wallets and transfer money from one location to another, buying NFTs will probably need some technical know-how. One must set up the correct wallet network and hold the right amount of cryptocurrency before being able to buy the NFT they desire.
NFTs may also be exchanged for fiat money on social media groups, Craigslist or eBay. However, since there is no means to verify the NFT’s legitimacy, this option is extremely risky for users. NFTs are not being regulated unless users are trading with their friends
In order to provide a more effective way of buying NFTs for mainstream buyers, PearDAO will launch its Cash-For-NFT marketplace that is cost-saving, safe and convenient for all users.
Trading NFT for Cash on PearDAO
Instant Conversion From NFT To Cash / Cash To NFT
PearDAO’s NFT Marketplace is a perfect place to buy and sell NFT for Cash. It works exactly like P2P trading. Buyer will contact the seller for payment details and send the payment through bank transfer, cash deposit or cash trading to the seller. During this process, the NFT will be escrowed until the trade has been completed/canceled. Once the seller has confirmed receiving the payment, PearDAO will release the escrowed NFT to the buyer instantly.
ERC-721 Token Standard
Pear NFT Marketplace supports ERC-721 token standard which is compatible with Opensea’s most popular NFT collections. While NFT listed on Pear NFT marketplace could not be listed on other platforms at the same time, ERC-721 provides higher transparency criteria for ownership, security, and immutability. To put it simply, ERC-721 tokens are ‘non-fungible’ in their activities.
Verifying NFT’s Authenticity
Conversion of NFT to cash becomes instant and convenient. Moreover, unlike trading of NFTs through Craigslist or Facebook groups, all NFTs will be verified through the NFT’s metadata to avoid scams from happening on the marketplace.
Lower Transaction Fee
No transaction fee will be applied to NFT being traded on Pear NFT Marketplace. Users can trade absolutely for free. Furthermore, users do not have to pay the same amount of gas fee as compared to trading on Opensea, as the buyer does not have to send ETH tokens to the seller during the trading process.
Safe & Secure
What if the buyer did not make the bank transfer but has marked as paid? Or has the seller received the payment but is unwilling to release the NFT? Users can submit an appeal to PearDAO’s appeal handling nodes and get professional help to settle the trading dispute.
PearDAO’s appeal system has been operating since the launch of our P2P marketplace. All trading disputes have been fully resolved and no successful scam case has ever happened in the marketplace.
Learn more about PearDAO Appeal Nodes
About PearDAO
PearDAO is a decentralized online marketplace for all users who prioritize on safety, anonymity and convenience. Pear P2P marketplace has over 30 million USD trading volume with traders and merchants from all over the world. With the launch of Pear NFT Marketplace, PearDAO is a step closer to the establishment of a WEB3 online marketplace that suits all needs of the users.
More About PearDAO:
- Twitter: OfficialPearDAO
- Website: Peardao.io
- Meet more Pears on Telegram
