NFT platform for buying, selling and keeping Reddit valuables.Go to app
Wait... what are reddit valuables?
Werto is a new way to build your digital identity. Here you can sell, buy and keep Reddit posts like collectibles.
Still confused. Get me more details.
Werto is a platform where users can buy Reddit posts and sell or keep them as valuable NFT tokens.
NFT - is a digital certificate that confirms the authenticity of an asset and can only be issued in a single copy with the consent of the owner. On the Werto platform such assets are Reddit posts.
NFT stands for Non-Fungible Token. This means that each token is unique and cannot be issued twice.
Try to imagine that every post on Reddit is a unique asset that holds value. You could think of it as a collectible. The value of each post is determined by several factors: who is author, what information it contains, and at what point in time it was published. When you buy a post on the Werto platform, you initiate several contexts at once:
- Create a direct relationship between you and the author of the post;
- Become the owner of the unique asset that can be kept as value or resold at a higher price.
1. Have a registered account on http://www.reddit.com;
2. Have MetaMask wallet installed in your browser;
3. Have the minimum required amount of Binance Coins in your MetaMask wallet.
MetaMask is an online wallet for keeping cryptocurrencies on the Binance Smart Chain. It must be installed in your browser as an extension and refilled with the desired amount of BNB (BEP-20) cryptocurrency.
Any Reddit user can upload post to the Werto, but only the original author of the post can close the auction for the first deal.
To buy someone's post, follow these steps:
1. Open http://www.reddit.com and copy the direct link to the post using the "Share" button;
2. Open https://app.werto.store and paste the link into the appropriate field;
3. Make your offer to buy;
4. Inform the author of the post in any way you can about the auction.
As soon as you pay for your offer the system will activate the auction for the selected post. The post will appear in the list of offers on the main page, and any user will be able to participate in this auction.
If someone makes a higher bid, your money will be automatically refunded back to your wallet.
You can also cancel your bid after 24 hours, but only if the post hasn't been sold yet.
For the first deal Werto allows close the specific post's auction only for its original author. Author have to sign in on Werto under his Reddit account to do that. After selling the post to someone, only new owner can sell it.
In order to sell a post, follow these steps:
1. log in to https://app.werto.store;
2. In your personal profile, open the "Offers" section and select "Received";
3. Open the post you want to sell;
4. Accept the offer by clicking on the "Sell for..." button.
The Binance Smart Chain will create a transaction to transfer money to your wallet. This may take some time, up to several hours. Please be patient and wait for the transaction to be completed.
Werto deducts 8% from the total amount. The remaining 92% of the amount is sent to your wallet.
All financial transactions in Werto are performed via smart contract in the Binance Smart Chain. Once you made a bid for a post, your money being sent to the escrow account and securely stored there until one of the following conditions is met:
- You cancel your bid after 24 hours;
- Someone placed a bid higher than yours;
- The post has been sold.
Werto team has no direct access to your money. All transactions are made automatically by smart contract with no interference from bystanders.
A smart contract is a program code which automatically executes financial transactions in the blockchain. Once a smart contract has been uploaded to the blockchain, its code cannot be changed by anyone.
Any transactions on the Binance Smart Chain are verified and confirmed by all network participants (validators). That's why for every transaction you make on the Werto platform, you are charged a fee, the amount of which can be viewed in MetaMask wallet before sending. This amount calculated automatically. This is a miner’s fee for verifying your transaction.
This is absolutely no problem because after buying the post Werto creates a unique NFT token, which cannot be deleted by anyone. This NFT token will contain all the data of the purchased post, including its image, sale date, etc.
Completed transactions cannot be reversed in blockchain. The only way out is to negotiate and sell the post back to the author.
So... what’s next?