Trading
What are gems?
Gems are artworks minted on primitives. each gem is a compressed NFT on the solana blockchain. Primitives believes everyone is a creator, so minting is open to all, and monetization is open to all.
How do prices move up and down?
A gem's price goes up when a collectors acquires that gem and down when a collector cashes in that gem.
What benefits do I get from buying a gem?
Acquiring a gem unlocks access to an exclusive chatroom for all current edition holders of the gem and the creator of the gem.
How many editions of each gem are there?
Each gem starts with 1 edition. each acquisition mints one new edition. each cash-in burns one edition. the circulating supply of a gem will always be directly correlated to its price. the more editions a gem has in circulation, the higher its price will be.
Why does each gem have two prices?
The acquire price is the price to add the gem to your collection
The cash in price is the price you’ll receive from trading in a gem you own
The small gap between these prices enables the system to send royalties to creators on every transaction while also giving collectors the peace of mind that they can always instantly cash in gems.
How many editions can I acquire in one transaction?
You can acquire 1 of the same gem in one transaction.
How many editions can I cash in in one transaction?
You can cash in 1 of the same gem in one transaction.
When a transaction happens, where does the money go?
15% of each transaction goes directly to the creator. 80% goes into a locked liquidity pool for that gem to support instant cash-ins. 5% goes to primitives to fund the continued operation of the platform.
How can I mint a gem?
Every primitives user can mint tradable gems or free-to-collect gems. When minting a tradable gem, you pay a $3.15 fee and receive your first edition. this allows you to cash in on your own success if the price of your gem goes up!
When a transaction happens, where does the money go?
15% of each transaction goes directly to the creator. 80% goes into a locked liquidity pool for that gem to support instant cash-ins. 5% goes to primitives to fund the continued operation of the platform.
Are my trades and gems on chain?
Yes. when you acquire a gem it is minted into your Solana wallet inside primitives. you can see blockchain transaction details on your wallet page
All gems belong to you until you decide to cash them in or send them to a wallet outside primitives.
Last updated