Raretoshi User Guide
Table of contents
1. CREATE A NEW ACCOUNT
Go to https://raretoshi.com and navigate to “Sign in” at the top right corner.
Select "Don’t have an account? Sign up."
Provide your email address and define your username and password.
Check your inbox for a confirmation email and follow the instructions provided to validate your email address.
Select “Continue to Raretoshi” or go back to https://raretoshi.com/login and log in with your username and password. The first time you log into your Raretoshi account you will be prompted to create a new wallet.
2. CREATE A NEW WALLET
Select “Create new wallet”. Read the instructions and click "I am ready to start" to see your 12-words mnemonic seed.
Write down all the words displayed including their order. Remember this is your ultimate back-up. If you lose access to your account and lose your 12-word mnemonic seed your funds and NFTs will be lost forever.
Validate that you have correctly written down your 12-word mnemonic seed phrase by typing them in the correct order. Once you are done click "Next."
Your wallet is now ready to be funded.
3. FUND YOUR WALLET
Artists will need a bit of Liquid Bitcoin (L-BTC) in their wallet to mint an NFT (~0.000013 L-BTC or ~0.5 USD at the time of writing). Raretoshi users will also need L-BTC or other Liquid assets (e.g. USDt Liquid) in their wallets to bid on artwork. Your wallet can be funded through a Liquid, Bitcoin on-chain or Lightning transaction.
If you choose to fund your account through a Bitcoin on-chain address or Lightning invoice, your BTC will automatically convert to L-BTC within Raretoshi. This is probably the most straightforward and easiest way to get L-BTC in your Raretoshi wallet.
Confidential Liquid and bitcoin deposits require one on-chain confirmation before being converted (Liquid: ~1-2 min; BTC: ~10-30 min). No pending deposit indication will be shown while the conversion is underway. The minimum amount to convert is 0.00001 BTC and the maximum is 0.01 BTC.
Please see this article for a complete list of the fastest and easiest ways to get L-BTC.
When funding through Liquid, users have a choice between confidential transactions and non-confidential transactions. By default, all transactions are confidential. More info here.
When selecting “Fund” in your Raretoshi wallet, you will be shown a Liquid non-confidential address in text format and in QR code. You can use this non-confidential address to send any Liquid asset including L-BTC, USDt (Liquid), or L-CAD directly to your Raretoshi wallet without limit in amount.
We recommend using Blockstream Green, Blockstream AQUA or Coinos to send Liquid assets to your Raretoshi wallet. If you get an error in your Green or AQUA wallet saying “Non-Confidential addresses not supported” simply click on “Confidential” under the Liquid address and you will be shown a confidential address and corresponding QR code.
It can take 3-6 min for the funds to show up in your wallet. If you don’t see the amount updated in your wallet try refreshing the page.
To speed up your Raretoshi wallet funding process, avoid funding delays and be able to bid on artwork with agility, we recommend obtaining L-BTC ahead of time. If you want to learn about different ways to get L-BTC please take a look at this Blockstream Help Center guide or this article on Liquid.net.
3.2 BTC (on-chain)
By selecting “Bitcoin” you can fund your wallet by sending an on-chain transaction to a native SegWit address generated by your wallet. This option will automatically exchange your BTC to L-BTC using Coinos. Depending on BTC network traffic and the selected transaction fee this funding option can take 12-60 min (however, keep in mind that this could take longer if there is high traffic volume on the Bitcoin network). You can use this option if you are not in a rush.
3.3 BTC (Lightning)
You can also fund your Raretoshi Liquid wallet using Lightning. By selecting “Lightning” you will be presented with a Lightning invoice with no predefined amount. You can scan this QR code and input the amount you want to send. Similar to on-chain funding, your BTC will be sent to Coinos and automatically exchanged to L-BTC that will then be deposited in your Raretoshi Liquid wallet. Keep in mind that there is currently a minimum of 0.00001 btc (~1,000 sats) and a maximum of 0.01 BTC with this funding option.
4. UPLOAD ARTWORK & MINT NFT
All new accounts in Raretoshi are “Fan” accounts. With this type of account you can bid on artwork and trade NTFs in the secondary market, but you can’t upload or mint NFTs. These options are reserved for users with an artist account. Artists will get their accounts tagged as “Artists” during the onboarding process.
To upload their artwork, artists can go to their profile page and select “Submit a new artwork.” This option is also available in the “Market” page (https://raretoshi.com/market). Current supported file formats are jpg, png, gif and mp4 up to a size limit of 400MB.
You will be presented with a “Submit artwork” form. You can either drag and drop your file or click on “Upload your artwork” to select a file from your device. You will see a “Upload complete!” message once your artwork is ready
You can now fill out details of your artwork including:
- This is a physical artwork (this just adds an icon to indicate that the NFT is associated with a physical item like a physical copy of the artwork)
- Number of editions (1:1, multiple editions)
- Description (here you can add a description of your artwork, about yourself, or indicate that there is additional content associated with the NFT such as a physical copy of the underlying artwork, access to an event, etc.)
- Ticker (this is a short 3-5 character identifier for your asset that you will see in other Liquid wallets and explorers. The ticker will be automatically selected based on the title of your artwork, but it can also be customized)
- Tags (you can use this field to add search words for your artwork so other users can find it easily. This section will also be used to include your artwork in a specific gallery (e.g., #Bitcoin2021; #Cypherpunks, etc.) Please only add the tag to a specific gallery if you are authorized to do so. We will remove any artwork that is not supposed to be displayed in the gallery. Consult with your gallery organizer to make sure you include the appropriate tag
After clicking “Submit” your artwork will be uploaded into our IPFS node and a Liquid issuance transaction will be generated to mint the NFT. You will be redirected to the newly uploaded artwork page and you will be able to see different details such as the username of the artist that created the artwork, the current owner (in this case the same artist), and under asset details you’ll be able to see the IPFS hash and the Liquid transaction ID.
You will have to wait 1-2 min for the NFT minting transaction to be confirmed in the Liquid blockchain (indicated as “pending'' by the history of the artwork on the bottom left corner).
Once the minting transaction is confirmed, your artwork/NFT will be ready to be listed. At this point your artwork is labelled as “Unlisted” so no other Raretoshi user can see it in the platform. You can see it in your profile page but it won’t be publicly visible until listed.
The NFT will also be in your wallet now. You can confirm this by going to your profile page and then to your wallet. If you go to “X assets available in this wallet>” you will see all Liquid assets in your wallet including L-BTC and NFTs.
5. LIST ARTWORK
After uploading your artwork and minting NFT you can then proceed to list your piece for sale.
1. Go to your Raretoshi profile page. There, you will find all your uploaded artwork under the “Creations” tab.
2. Select the unlisted piece that you want to publicly list by clicking on it. You will be taken to the artwork page where you will be able to list it by clicking on “List.”
3. You will now be presented with several options for your listing and you’ll be able to select between simple listing and auction.
5.1 Simple listing
You have different options that include:
1. Listing currency: you can define if you want to receive L-BTC, L-CAD or USDt (Liquid). Users bidding for your artwork will have to do it in this listing currency
2. Price: setting a price is optional. This would be the “buy it now” or buyout price. If you don’t set a price, users will post offers for your piece.
3. Royalty Rate: setting a royalty rate (in percentage) is optional. This is the percentage that will be paid to the original artist in subsequent sales of the NFT. Setting a royalty involves transferring the artwork to a 2-of-2 multisig address with Raretoshi. Our servers will only co-sign a transfer if they pay the specified royalty to the original artist. This percentage can not be modified afterwards by any NFT owner. Once an NFT has a royalty associated it gets locked in Raretoshi to ensure that the original artists receive their royalties, which means the NFT cannot be transferred outside of the platform. If you want your NFT to be transferable outside of Raretoshi wallets, do not add a royalty.
Once you are happy with your listing conditions you can hit “Submit” and your piece will be published for sale. You will be redirected to the artwork page and will be able to see the listing details and the history of the artwork if you scroll down.
Other users will now be able to make you an offer or directly buy your artwork if a price was set.
You must enable “Create an auction” on the listing page to activate this option. You have the same options as in simple listing, but in this case, you can also add a start and end date and time for your auction and a reserve price. The reserve price is the minimum price you’ll accept for the artwork. Setting one is optional.
To ensure auction start and end dates and time, once an artwork is listed using this option it is transferred to a 2-of-2 multisig address. The Raretoshi server will co-sign this transaction once the auction is finished and the NFT will be sent to the highest bidder and the money to the artist.
After listing your artwork using the auction option, other users will bid on it and see information such as reserve price, if any, and how much time is left until the auction ends.
6. WHAT TO EXPECT AFTER LISTING
After listing your artwork, Raretoshi users will be able to bid in different ways depending on your listing conditions. If you set a price, users will be able to buy out your artwork immediately for that price. Users can also make an offer and you’ll see these offers in the artwork page and in your profile page under “Offers.” If you did a simple listing (i.e., not auction) after someone places a bid on your artwork, you can accept that offer, wait for further offers or wait until someone pays the buyout price for your piece.
If you decide to accept an offer, your wallet will sign the atomic swap transaction that will transfer the NFT to the bidder and will deposit the bid money into your Raretoshi wallet. Your artwork will still be visible to you in your profile page under “Creations” but since you no longer are the owner, it won’t show up under the “Collection” tab. The artwork page will also show the history of the NFT and it will reflect the new owner.
If you decide to list your artwork as an auction, Raretoshi users will see the time left until the auction goes live, and they will be able to bid for your piece until the end of the auction. If you set a reserve price (i.e., minimum amount that you will accept for your piece), users will also be able to see this information. Raretoshi users will also see a countdown timer indicating when the auction ends. If someone bids in the last 15 min, this will automatically push the auction end time 15 min. Once an auction is finished, the NFT will automatically be transferred to the highest bidder and the money to the artist.
7.1 Edit your Raretoshi profile
1. Go to your profile page
2. Select "Edit Profile"
3. Fill out the fields and change your profile picture if you want and save the changes. Done.