You’ve likely heard of NFTs. But did you know that the biggest NFT sold for over $532 million? That’s some big bucks! It is clear that NFT art is a lucrative way to make money while exploring your passion. If you want to jump on the NFT bandwagon and learn more about how to sell an NFT, you’re in the right place.
Keep reading to learn more.
NFT 101
What is an NFT? Let’s start with the basics. The term stands for a non-fungible token, meaning that the item is digital and can’t be duplicated. Individuals can create a work of art, video game, or anything in between, and place it within the blockchain network. This reduces the need for a third-party intermediary such as an art broker.
Getting Started
Okay, let’s get to the main reason you’re here. How can you earn money with NFTs? Well, the process starts through the creation of your NFT itself. Next, you’ll need to choose an NFT platform to sell your work. There are many NFT trading platforms out there, including OpenSea, Rarible, Nifty Gateway, and more.
Be sure to check out the fees associated with each platform to understand upfront how much you can expect to pay for selling your NFT.
Buy Crypto
To pay the associated platform fees, you will need to fund your account with crypto OTC. This step is critical in turning your artwork into a non-fungible token that you can sell. As most platforms use cryptocurrency (and not fiat) to cover the fees, you will need to buy some crypto. The most common currency used for NFT transactions is Ethereum. Once you have funding in your wallet, you’ll be ready to sell.
How to Sell an NFT?
Once you’ve hooked up your digital wallet, connect it to the NFT platform of your choice. Next, you’re ready to create an NFT of your work. You’ll have the option to create a single, multiple, or one-off of your work and then upload the digital file from your device. You’ll be able to upload various file types, including GIFs and MP3.
Next, decide how you want to sell your work. Typical options are fixed price and auction-based. Then choose a minimum price that considers the fees you’ll have to shell out. Add a description, and post your listing. You then have your NFT listed for all to see, and you’re ready for buyers! That is the entire process from start to finish.
NFTs are Going to the Moon
We hope this article helps clarify how to sell an NFT! Many artists and designers wonder how they can enter the NFT space today. Non-fungible tokens are fetching incredible prices in the market, and it looks like they are here to stay. Be sure to try to capitalize on this fantastic trend today!
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