Help Topics for TokenUp.app This website requires Google Chrome.
Contents
Application Overview
Metamask
xDai
TokenUp Directory
Administration Page
Create a Non-fungible Token
Deposit or Withdraw Your xDai Balance
Buying and Selling Tokens
Move Tokens To Your xDai Address


Application Overview

A Non-fungible Token (NFT) is like a virtual baseball card that is stored on the blockchain. The creator of the Token can select how many "cards" will be minted. If there is only one unique card, then it might be worth more. An NFT recently sold for $69 million.

This website lets you create, buy, and sell NFT's that can represent Art (a .jpg file), or Music (an .mp3 file). For the same reason that you don't "own" a baseball player by owning their card, you don't own any of the rights to the Art or Music that an NFT represents. You just own the Token for the Art or Music.

For a Token to be offered for sale in the TokenUp Directory, the Token must be held at the TokenUp Escrow Address. You can move your Token to your own blockchain address, but then it will not be offered for sale in the TokenUp Directory.

Metamask

You do not need to install Metamask to create or sell Tokens. However, to buy Tokens, and to withdraw your proceeds, install the Metamask Chrome extension.

Metamask allows the Chrome browser to interface with the blockchain, without installing any other software:
  • Create new xDai addresses.
  • Move xDai to and from TokenUp.app, to your own xDai address.
  • Move your Tokens to and from TokenUp.app, to your own xDai address.
  • Transfer money to other xDai addresses.

xDai

This website uses xDai instead of Ether.

Ether transactions charge a "gas" price that is determined by "miners" who create the Ether coins. Websites using Ether can charge more than $100 for each NFT transaction.

The xDai coin is always worth approximately one U.S. Dollar, and the Gas Price should always be set to the minimum of 1 GWEI. Each xDai transfer only costs $0.000021, so you can perform 1,000 xDai transfers for about 2 cents. To perform 1,000 Ether transfers currently costs more than $10,000.

To convert USD to xDai: All major crypto exchanges can convert USD to Dai. Use the xDai Bridge to convert Dai to xDai, and perform the Metamask Setup Instructions to view your xDai in Metamask.

To view ART and MUSIC Tokens that you move from TokenUp.app to your xDai address: (a later section describes how to move Tokens.)
  1. From Metamask, select the address that you copied the Token to.
  2. With the Assets tab selected in Metamask, scroll to the bottom of the Metamask popup, and click [Add Token].
  3. Click the Custom Token tab.
  4. Enter the Token Contract Address for the ART Token: 0x0146e205E81BC727F2fe56F7463E15da79c8DE4D
  5. Click [Next], and then click [Add Tokens].
  6. Repeat the same instructions to add the Token Contract Address for the MUSIC Token: 0x8EECef02D7476bE5FF43Df1F8F2EaD44f331659d

TokenUp Directory

If you are not logged in, the TokenUp Directory is displayed on the Home Page. If you are logged in, click [View Token Directory] on the Administration page.

The dropdown boxes and textboxes at the top of the Directory allow you to Sort and Filter the Tokens that are shown. You may enter partial matches for Search Criteria. For example, entering "an" as the Owner criteria would display Tokens by Van Gogh.

Clicking an entry in the Directory will display a popup page that allows you to see a larger version of the image (if it is an ART Token), or to hear a MUSIC Token.

The popup page also allows you to do the following:
  • View the Transaction History (if the Token had previously been sold).
  • View the Creator and Owner's websites, by clicking their name.
  • If you are logged in and have an adequate xDai balance, then you may purchase the Token. This is explained later in this help file.

Administration Page

When you Register on the Home Page, you will receive an email that contains a temporary Password allowing you to Login and display your Administration Page, which contains the following features:
  • You will receive a Free NFT Credit, which allows you to create one Free Token. To create more Tokens, you may purchase additional NFT credits by clicking the [Buy Now] button.
  • To confirm your identity, add the code snippet that is shown to your website (or social media page). Enter your Website URL in the textbox beneath the code snippet.
  • You may select a New Password.
  • If you have at least one NFT Credit, you may create a New Non-fungible Token, which is explained later in this help file.
  • Your Tokens are listed under the Your Non-fungible Tokens heading. You may View or Listen to any Token. Click [Edit] to change a Token's Price, and its "In Directory" status.
  • If you have an xDai address selected in Metamask, you may Deposit or Withdraw to your xDai Balance (shown on the upper left corner). This is explained later in this help file.

Create a Non-fungible Token

To create a new Non-fungible Token (NFT), you must have at least one NFT Credit. You do not need to have an XDai Balance, or have Metamask installed. However, Metamask is required to transfer your Token to your own xDai address, or to withdraw proceeds from a Token sale.

The following steps will allow you to create an NFT:
  1. Upload your File: Under "New Non-fungible Token", click [Choose File], and select an Art (.jpg) or Music (.mp3) file, that is less than 10MB.
  2. After the "Uploading file, please wait.." message is removed, you may optionally Upload a Thumbnail File (230x230 JPG; 100k max).
  3. Enter a Description (maximum 20 characters), and a Price.
  4. Click [Create NFT]. After the "Creating NFT, please wait.." message is removed, your new Token will appear under Your Non-fungible Tokens.

Deposit or Withdraw Your xDai Balance

To convert USD to xDai, follow the instructions in the xDai section of this help file.

Your xDai Balance is shown on the upper-left corner of the Administration page. To purchase a Token, you must first click [Deposit xDai] (on the right side of the Administration page). This will transfer xDai from the address that you select in Metamask, to the address used by TokenUp.app. This assures the Seller that the funds are "clear", since all purchases are non-refundable.

Withdraw from your xDai Balance: You may transfer any unused portion of your xDai Balance back to your xDai address in Metamask. Use Metamask to select the xDai address that you want to transfer to, and then click [Withdraw xDai]. Your xDai will then be transferred from the address used by TokenUp.app, to your xDai address. Withdrawals are approved within 24 hours (usually much faster).

Buying and Selling Tokens

You do not have to be logged into Metamask to purchase Tokens.

To Purchase a Token: Click its image in the Token Directory. If your xDai Balance is not less than the Token's Price, then the [Buy This Token] button will be shown. Clicking that button (and verifying) will cause the Token's Price to be deducted from your xDai Balance. The Token will then be shown under the "Your Non-fungible Tokens" heading.

When you buy a Token, it is removed from the Directory. To have a Token shown in the directory, click the [Edit] button (under the "Your Non-fungible Tokens" heading), change the Price, and check the [Show in Directory] checkbox.

Selling Tokens: When your Token is in the Directory, anyone who has deposited enough xDai Balance may purchase the Token. If you were the original creator of the Token, you will always be shown as the Creator on the Token detail popup.

When your Token is sold, your xDai Balance will be increased by the Price that you had selected, minus a 2.5% transaction fee.

Move Tokens To Your xDai Address

When you Create or Buy a Token, the "Your Non-fungible Tokens" list initially shows the xDai Address as being "In Escrow". This means that the Token is held at a TokenUp address. A Token may only be shown in the Directory (and be For Sale) if it is "In Escrow".

If you don't want your Token to be shown in the Directory, you may move it to your xDai Address. You must first select the xDai address in Metamask, where the Token will be moved to.

If your xDai address is selected in Metamask, clicking the [Edit] button (to the right of a Token on the "Your Non-fungible Tokens" list) will display a button to [Move Token TO Your xDai Address]. You may use Metamask to see Tokens that are stored at your xDai address (see instructions in the xDai section of this help file, under the heading labeled "To view ART and MUSIC Tokens that you move from TokenUp.app to your xDai address").

Move Token From Your xDai Address to TokenUp.app: After you move a Token TO your xDai Address, you may then move it back to TokenUp.app, so it can be For Sale in the Directory.

If a Token's xDai Address (shown in the "Your Non-fungible Tokens" list) matches the xDai address that is selected in Metamask, then a button labeled [Move Token FROM your xDai Address] will be shown on the Edit Token popup.

Clicking that button will cause the blockchain process to begin. After waiting at least 20 seconds, click the button labeled "Verify in Escrow", and the Token will then be "In Escrow", so you can check the "Show in Directory" checkbox.