Q: Buy a artwork

Steps to buy RWA artwork: <ol> <li>Connet Wallet.</li> <li>Select a artwork and Click "Buy Now".</li> <li>Enter Shipping and Contact Information, and check the box for personal information usage terms.</li> <li>Complete Payment *Click <a href="https://help.vault-x.io/en-us/article/complete-payment-1nfa8m2/">Complete Payment</a> for Complete Payment details.</li> <li>Arrange Shipping with the curator. The curator will contact the collector using the contact information and the collector can also reach out to the curator using curator's contact information on the details page.</li> <li>Delivery artwork: The artwork will be delivered via the curator's chosen shipping company, with shipping costs covered by the collector.</li> <li>Confirm Delivery and Click "Release Escrow". Once you receive the artwork and confirm its condition, Click "Release Escrow" to complete the process.</li> </ol> || VaultX utilizes a smart contract escrow functionality. || Escrow smart contract: A digital contract executed on a blockchain that holds funds in escrow until the transaction(payment and delivery) is fully executed, ensuring secure transactions.

Question 1

Shipping

Accepted Answer

Shipping is conducted in consultation between the curator(or seller in the case of resale) and the buyer, taking into account the artwork's condition, unique characteristics, and the global shipping environment.

Once the artwork purchase is complete, the curator will contact the buyer using the provided contact information to arrange the shipping schedule and inform the buyers of the shipping costs.

|| The shipping cost is to be covered by the buyer.

Question 2

Set up crypto wallets

Accepted Answer

**What is a crypto wallet? **

A crypto wallet is a digital tool that allows users to store and transact with cryptocurrencies. On most blockchain platforms, all activities, from signing in to transactions, are conducted through the wallet.

What crypto wallets can I use?

There are three main wallets for VaultX: Metamask, Coinbase wallet and Social login wallet.
Digital asset deposits and withdrawals through personal wallets are only possible with the personal wallets supported by the exchange. Check the exchange you are using before setting up a wallet. (ex. Upbit, a Korean digital asset exchange, only supports Metamask.)

How to set up a crypto wallet?

The setup methods are similar for Metamaks and Coinbase wallets.

Visit the Website: Metamask: https://metamask.io/download/ Coinbase: https://www.coinbase.com/en/wallet/downloads
Click on the "Download" button and choose your browser(Chrome, Firefox, Brave, etc.)

|| VaultX is optimized for PCs, so installing the wallet on your PC is recommended.

For browser installation, click "Add to Chrome" (or the relevant option for your browser) and then confirm the installation.
Open the extension, click "Get Started," and select "Create a Wallet."
Create a secure password and follow the prompts to back up your seed phrase.
Once you've backed up your seed phrase, your wallet will be ready to use.

|| Password: for everyday access, Seed phrase: for recovery your wallet or funds o

Question 3

How are taxes and customs fees calculated?

Accepted Answer

Shipping will be carried out through the shipping company designated by the curator(or seller).

In cases where taxes and customs fees must be paid, the shipping company will contact the buyer to provide information regarding taxes and customs fees.
They may require the buyer to submit necessary documentation and payment for these fees before the package can be delivered.

Question 4

Buy a artwork

Accepted Answer

Steps to buy RWA artwork:

Connet Wallet.
Select a artwork and Click "Buy Now".
Enter Shipping and Contact Information, and check the box for personal information usage terms.
Complete Payment *Click Complete Payment for Complete Payment details.
Arrange Shipping with the curator. The curator will contact the collector using the contact information and the collector can also reach out to the curator using curator's contact information on the details page.
Delivery artwork: The artwork will be delivered via the curator's chosen shipping company, with shipping costs covered by the collector.
Confirm Delivery and Click "Release Escrow". Once you receive the artwork and confirm its condition, Click "Release Escrow" to complete the process.

|| VaultX utilizes a smart contract escrow functionality.

|| Escrow smart contract: A digital contract executed on a blockchain that holds funds in escrow until the transaction(payment and delivery) is fully executed, ensuring secure transactions.

Question 5

VaultX's guarantee of artworks

Accepted Answer

VaultX is a Web3 platform for real-world assets, with a focus on physical art.

We guarantee our artworks using blockchain technology, NFTs, smart escrow contract.

|| Here are our key capabilites for transparent and trustworthy RWA management:

On-chain asset registration: By recording the attributes of real world assets on the blockchain during the minting process, we ensure transparent disclosure of product authenticity and enhance product reliability.
Blockchain-Based Product Provenance: Easily trace the artwork’s history, including all past transactions and ownership changes.
Escrow smart contract: Funds are held in escrow until the transaction (payment and delivery) is fully executed, ensuring secure transactions.

Question 6

What is Gas fee?

Accepted Answer

The fees charged for using the blockchain network are called Gas Fees.

These fees vary based on the congestion of the network and can differ depending on the specific transaction.

||| Here are some cautionary points related to Gas Fees

Check Congestion : Gas Fees can increase when the network is congested, so it's advisable to check the congestion level before proceeding with a transaction.
Volatility: Gas Fees fluctuate in real-time, which means higher fees than expected may occur.
Check Wallet Balance: Ensure you have sufficient balance to cover the Gas Fees, as they are typically paid in ETH for networks like Ethereum.
Confirm Transactions: After completing a transaction, make sure to verify that it was successfully executed, reviewing all details, including fees.

Frequently Read Articles

Browse All Categories