> For the complete documentation index, see [llms.txt](https://docs.paintswap.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.paintswap.io/nft-marketplace-1/trading.md).

# Trading NFTs

## Marketplace

<figure><img src="/files/sLagZMDYqMZ21sFDp1sq" alt=""><figcaption></figcaption></figure>

The [Paintswap NFT Marketplace](https://paintswap.io/sonic/) is a hub to buy, bid, and sell NFTs. $S is used as the main currency, and some of the fees are used to buy $BRUSH.

{% hint style="warning" %}
Not all NFTs on the marketplace were minted in Paintswap. NFTs are simply smart contracts, and they can hide functionality that could, for example, self-destruct or transfer to a third party after some time. Beware of this risk, and prefer buying verified NFTs looking for a :white\_check\_mark:symbol on their page and check the contract, or NFTs from [featured collections](/nft-marketplace-1/collections.md#featured-collections).
{% endhint %}

## NFT Sales

NFTs can be sold via direct sales or auctions. The mechanics of both are described in more detail in [Marketplace Mechanics](/nft-marketplace-1/trading/marketplace-mechanics.md), but in summary, a sale goes through three phases:

* The seller puts the NFT up for sale, interacting with the NFT marketplace contract.
* Potential buyers make their offers and (if a direct sale) can buy it immediately. Offers are done in wS.
* The sale is concluded: fees and royalties are taken from the sale price and distributed. The NFT and currency are transferred to the new respective wallets. Any user can conclude a sale, but it needs to be called manually. We run a script that completes concluded sales after no more than 1 hour (except if gas is too high on the network).

{% content-ref url="/pages/-MiL17Oe\_piX3upD78s4" %}
[Marketplace Mechanics](/nft-marketplace-1/trading/marketplace-mechanics.md)
{% endcontent-ref %}

### Initiating the sale

When putting an NFT up for sale, you will need to provide:

* How many to sell, of the same NFT
* How long to keep it for sale
* Sale price
  * Reserve price (minimum) for auctions
* NSFW check

<figure><img src="/files/1IE94ZOPqpuMWJqhpSOI" alt=""><figcaption></figcaption></figure>

### Cancelling a sale

Cancelling a marketplace sale is possible in all cases except the following. If a bid is placed on an auction, the auction can no longer be cancelled, unless the auction is less than 2 hours old.

Note that cancellations offer no refund of the listing fee.