Why do we use Polygon vs Ethereum?
Without getting too technical: Polygon, which is a layer on top of the Ethereum chain, allows for much cheaper transactions, which is why we are able to offer free/no gas fees.
Ethereum gas fees can be very expensive, which may be fine for certain NFT projects, but is not ideal for the mass usage that Sutudu strives for.
What is a floor price?
The floor price is the lowest amount any particular item in a collection is currently selling for. It is just useful information you can take into consideration when browsing.
Which wallets does Sutudu support?
We currently support metamask and coinbase wallet. We may support other wallets in the future, but wish to remain cautious in recommending any/all wallets because of the various security concerns.
There are things we like and dislike about each wallet (metamask and coinbase included), and always advise caution no matter which wallet you choose. Save your seed phrase offline, and never use your wallet from an untrusted device. It is recommended that you store valuable items on a hardware wallet such as a Ledger, or Trezor.
What is IPFS, and why do we use it?
InterPlanetary File System is decentralized file storage. Once something is placed on the IPFS, it is not able to be modified.
This is ideal for most cases of NFT usage because it would be a big security risk for the NFT and its metadata to be stored on a traditional system such as AWS or Azure, where someone can modify them. Like the blockchain, an entry into IPFS is permanent and transparent.
You may notice some assets being displayed using non-ipfs servers, and this is to get the best of both worlds: have the “master” stored on IPFS, and use a “local” reference copy which is much faster for user web browsing. IPFS is many things, but “fast”, isn’t currently one of them.
What is the multiple wallets function for?
We innovated the usage of the NFT by adding multiple wallets for the simple reason that there can be multiple owners from an NFT project. An example would be music.
Often times, the creation of a song requires multiple copyrights, thus there is a process called the “Split Sheet”. Sutudu’s NFT platform allows for the “Split sheet” to happen within an NFT. You can use the split wallets for the initial sale or for the royalty.
Can first time NFT buyers own a piece of the royalty that’s set by the creator?
If the creator enables for first time NFT buyers to own a piece of the royalty with the creator, the NFT buyer would essentially be a royalty partner with the NFT creator.
This feature is an incentive for the NFT buyer to know they are getting a royalty benefit if they were to sell the NFT on the secondary market.
What is the time duration function on the royalty?
The NFT creator can set the amount of royalties you get based on years. Meaning it can be set for life time or it can be set in a descending years.
So an example would be at year 5, royalty owners would receive 10% from the secondary market. At year 4, royalty owners would get 8%. At year 3, royalty owners would get 6%. The idea is to allow the secondary markets to have opportunities to sell their NFT at better royalty rates.
Will you be using other chains other than polygon?
As Sutudu continues to develop, we plan to connect with other major blockchains. We are very cautious about which technologies & platforms we integrate with.
How do I get an NFT?
NFTs can be bought, sold, and traded. Someone can gift you an NFT if you simply provide them your wallet address.
If you want to purchase an NFT, the steps would be: Create a metamask wallet, add the polygon network to the wallet, purchase matic (or ethereum, depending on the NFT), which can now be done directly in Metamask, and then go to the NFT page and click on the purchase/bid button. Some NFTs may not be for sale, or may be on auction.
How do I delete a collection?
Currently, in our beta release, there is no ability to delete your collection on your own. You will need to report the collection and state why you want to delete it. Our team will help you delete it, if applicable. However, if collections were created and others have bought within your collection, more than likely, it can not be deleted otherwise it would delete the NFTs of those who bought your NFTs. We do this very carefully to ensure the reliability and integrity of the platform.
How do I delete an NFT?
To have it removed from Sutudu.com, please send us a report of the NFT stating why you want the NFT to be removed from the platform. If access if granted, we will remove it from our platform. If you had minted on the blockchain, just know that the NFT will be on the blockchain and we can not delete what’s on the blockchain.
Can I buy, sell, or mint NFTs on the mobile device?
Yes you can, but we do warn you that it could be unstable doing it over the phone for numerous reasons. We do recommend doing the transactions on your desktop
How can I contact Sutudu?
How do I withdraw funds from Polygon?
Polygon uses Matic. You can send your Matic tokens to an exchange place such as Coinbase or Binance, and exchange it for Fiat (Dollars). Your wallet may also have an exchange to fiat option.
What does it mean when you see “Royalty” on the top right of the NFT?
It means that the creator of the NFT is allowing for first time NFT buyers to own a royalty with the creator.
The split sales and royalty system allowing for multiple wallets to be attached to the NFT creates an opportunity for project partnerships.
Do I need to provide any information about myself when buying an NFT?
To get started, much of this is up to you, you may complete a profile, or remain anonymous.
However, depending on the NFT creator, the creator may use our Utility Manager where it requires you to input information to use the utility. But that would be up to the NFT creator on how they manage their NFT project.
Where can I find NFT sales records?
When you click on the NFT, you will be able to see the history of the sales in the history tab.
What are the gas fees?
Gas fees are what many cryptocurrencies use to pay for transactions. They differ from chain to chain, some being higher, and others lower. We do not control any of the gas fees. Being on the Polygon blockchain, gas fees are very low in price compared to Ethereum.