Frequently Asked Questions

Lensy.io is a digital photography marketplace built on the Hive blockchain.

The Hive blockchain is optimal for NFT trading. Transactions are free and 3 second block times means all transactions resolve very quickly.

NFT stands for non-fungible token. Anytime you have a token and you're keeping track of more details than who owns them and how many, then you have a non-fungible token. In this case we're keeping track of the art, who owns it, when it was created, a description etc. All of that data lives in the token, which is what you're purchasing when you buy the art. More info at Wikipedia

NFT creation costs 0.5 SWAP.HIVE + 0.1 SWAP.HIVE per edition. Upon completion of the initial sale Lensy.io collects a 10% commission. Upon completion of secondary market sales Lensy.io collects a 10% comission and pays half of that as a royalty to the original artist.

The first step is to create a Hive account and login with your keys.
To get a Hive account go to: https://hiveonboard.com/?ref=lensy
We suggest you store your keys in Hive-Keychain-
Chrome/Brave
Mozilla Firefox

Here is a quick video tutorial explaining how to get a Hive account and install keychain:

You will need a small amount of crypto to tokenize your first artwork. You may need a larger amount of crypto to start collecting art. Hive can be purchased on a number of exchanges such as, Bittrex Binance, Kraken, Huobi and more.

Hive Engine is a smart contract platform built on the Hive Blockchain. One of the smart contracts on Hive-Engine is the NFT contract that Lensy.io uses to operate the digital marketplace.

The Hive blockchain uses the HIVE cryptocurrency as the medium of exchange. Hive-Engine utilizes a HIVE backed token called "Swap.Hive" to execute all the smart contracts. To interact with Lensy.io users are required to convert Hive to SWAP.HIVE. You can do this at Hive-Engine.com and sign in with the Hive Keychain browser extension you've already installed.

For all support needs please contact us in Discord

A blockchain is an opensource and publicly available database that stores information in chunks called "blocks" every so often.

A wallet is a place where you can store your cryptocurrency.

Most regular websites require a username and password. Blockchains require you to have keys. Keys are long strings of numbers and letters that are unique to you. If you lose your keys you'll be unable to access your accounts.

A wallet address is a particular Wallet. On Hive wallet addresses are stored as account names. So, a wallet address might be @juliakponsford or @aggroed.

HIVE is a cryptocurrency that powers the Hive blockchain.

On Hive you can own liquid HIVE or choose to stake (freeze it) as HIVE Power. Hive power grants you voting rights on the platform as well as resource credits. Resource credits are consumed when you do any action on the blockchain like make art NFTs or blog about the experience, and are regenerated over time when no actions are performed.

Hive Keychain is a browser extension that works with Chrome, Brave, and Mozilla to encrypt your keys within a browser. By using Keychain you can prevent your keys from ever being shared with a malicious website.

On Lensy.io artists can create digital tokens with unique features that can be sold to collectors. Collectors can gather limited edition art pieces from popular artists. You can create, buy, sell and trade these tokens.

As the creator of the token you have digital ownership of your work. When you sell the work you can choose a private sale or Full Commercial Rights. When the art is sold as Private the collector owns that single piece of art but does not have the right to reproduce it on other sites. If the creator chooses Full Commercial Rights then the collector has full commercial rights to reproduce the art for profit and display it on commercial sites.

Lensy.io currently allows uploads up to 30 mb. We suggest uploading the highest resolution possible while staying below that limit.

Art files are initially stored on the Hive image server managed by @blocktrades. As the project gains traction Lensy.io will have it's own image server.

Yes, and you can leave a custom note when gifting.

You are selling limited edition, collectible, art tokens.

After you issue the art you have the ability to list it for sale. For now you can set a "Buy it now" price, but in the future we'll add a bid option as well.

Each individual print of a single piece of art is called a Digital Edition. If you issue your token with 15 copies then you have created a total of 15 Digital Editions.

The smart contract platfrom Hive-Engine, which is the backend of the Lensy.io website, requires that all contracts be settled in SWAP.HIVE.

By creating an NFT with a specified number of editions you are ensuring the scarcity of your art for your buyers. Once an item is tokenized it's important you do not tokenize the same creation again as that will negatively affect the value of your artwork and reputation.
We reserve the right to restrict access to Lensy.io if an artist is caught fraudently issuing additional tokens of the same creation.

You can trade it for goods and services, you can exchange it for other cryptos on hive-engine, and withdraw it as Hive from the Hive-Engine.com exchange.

Join https://discord.lensy.io, fill out the whitelist appliction form under `Profile` on the site. You'll be contacted in Discord.

After you have purchased art you have the ability to sell it or trade it. Trades are handled privately. If you'd like to sell it on the market simply click the piece of art in your collection, choose the `Sell` action from the menu, set a price and it will be on the market.

Under profile there is a `On Market` option. Choose that, and then select the art pieces you'd like to cancel. Selected art will become highlighted in the top right under `activities.` From there you can choose `cancel sale`.

No. You can contact the buyer, but if they refuse there is no recourse.

A 10% commission is taken by the exchange. So if you sell an art piece for 10 SWAP.HIVE and the art sells the seller will receive 9 SWAP.Hive.

You're buying a token that contains limited edition, collectible art by wonderfully talented artists. It may additionally contain full commercial rights, which allows you to reproduce the work for commercial (money making) purposes.

Bids are not yet operational, but as it becomes available collectors will bid on art they want to purchase. Once a collector bids on a piece of art a 24 hour timer is started. If no new bids come in the collector will successfully purchase the art. If a new bid comes in then it will cause the original bid to be refunded and the 24 hour timer will restart. This process will repeat until there is no additional bidder within a 24 hour period at which point the sale will go through.

There is a `collection` tab in the website. You can see all the art you own there. If you're looking for a more technical answer the tokens live on the Hive-Engine side chain in a layer 2 on top of the Hive blockchain.

Fraudulent art from verified creators may be refunded up to the price the first owner paid. Otherwise, no, all sales are final.

Yes, as long as it's not being used in a commercial endeavor. So, if you're blogging about it or sharing a picture on social media that's ok, but it is recommended to be respectful of the artist and ask permission. Attempting to sell this art without securing the rights is not in compliance with the Terms of Service.