Sologenic NFT Marketplace…SUCKS
So far, I can say…what a let down. Their tutorial at the top of the UI doesn’t clearly explain very much. I eventually had to go hunting for the 101 guide and was still not happy with their explanations.
So here is how my experience went. I created a collection named Digital Portraits under my name (not the FooCuties name) to test it out and see if it would be a good fit for the project, considering other marketplaces will be popping up soon. I also had to create one called The Art of Lewna Tsuki…more on that later.
To begin, you start on the collection page where you put the collection name, photo, banner, a blurb about it..and then you are supposed to click next. It warns you that you can’t make any changes later on…so make sure your collection has all the correct information. Umm…..that really sucks…but ok.
After you create the collection, you create an NFT, and are charged 3 Solo before anything else to mint it. You sign the transaction, then you are taken to the NFT screen where you input the info you want for the listing, as well as upload the file. Once you are done, you click next.
Oh..but wait! Where is the warning that once you click next, you won’t be able to make any changes to the NFT information? That’s it, you are stuck.
After clicking Confirm you are on the “Finish” Page. Here it tells you that you need to pay 10 XRP to create an issuer address. Uh…what? Where the hell is this written anywhere else in the tutorial or guide? So, you are forced to create another issuer line with 10 xrp, and if you don’t, then you are stuck with NFTs that are minted but can’t be listed? Ridiculous.
If you go back to the NFT page and try to delete the NFT on the NFT page to start over, you lose the 3 solo you paid to mint it. (At least they warned you about that).
Once you create the issuing address and sign the transaction, you have to seal the NFTs and then it will be available at some point in time. Fine.
So I see my first collection listed on the front page after some time…with my 1 NFT. Now I want to add another. Oh..but hang on a sec. There is no way to add additional NFTs to the collection you have already created! It’s a one time upload. So I went searching for the guide and it says that every NFT creates a new collection. Whaaa?!?!
The meaning of “ Make sure this information is correct because once the collection is successfully uploaded, it cannot be edited” [sic.] This implies that the INFORMATION of the collection cannot be edited. Where does it say “and no additional NFTs can be added to the collection?” Sketchy AF.
The only kind of indication of not being able to upload additional NFTs to a collections is also on the front page of their main website…and it doesn’t say much either. It can be interpreted in several ways…so it’s useless info basically.
So there it is. Screwed on a 1 NFT collection and I just can’t wait to see what surprises the listing process will bring. (I am going to wait to batch mint my NFTs for the second one..lol)
Now let’s break this down by cost, if I am understanding this process right. If I am not, please correct me. I am really trying to understand this whole setup.
- It costs 3 solo to mint each NFT.
- Each NFT is a collection on it’s own…and it costs 10 XRP to create a collection.
- So you would pay 10xrp, 3 Solo just to get to mint and list your NFT, unless you upload every NFT you are going to offer for sale EVER, in that instant. If so, then it would cost 3 Solo for each NFT and 10 XRP for the address.
- Don’t forget, you sign a transaction at the minimum 3 times with tx fees. It doesn’t sound like a lot, until you have to mint 10,000 NFTs and seal each one with a transaction (from what I am understanding).
Yeah…I think I am going to have to wait until some other options open up or look for a different way of doing things. This is just ridiculous to me. It seriously ticked me off and I hope writing this helps other NFT creators before they screw themselves on having to make more than one collection. FooCuties has 10 NFT phases to be released at different times…get rekt.
Thankfully, I decided to test it out with my own XRP and Solo funds, and did not waste any of the money from the FooCuties project. Lesson learned, and here we are…a deflated creator ready to end this rant.
One more thing: SOLOGENIC…learn to use a text editor. You spelled CATEGORIES wrong. (Yeah, I had to get that in. :P)
Stay Beautiful Cuties!