Do you want to learn how to sell NFT work as a digital artist? Several artists and enthusiasts are already taking advantage of this ‘digital art collective’ strategy and generating good money. According to a recent study, over $400 million in NFTs have been traded on NFT exchanges in the previous three years. The market for these digital assets is growing and will most certainly continue to increase. So, as an artist, how can you get a piece of the pie? Begin by reading our primer on what an NFT is and how it operates. Once you get the information plus some very amazing art that you want to sell as an NFT, the next step is to find out where you can sell them.
What are NFTs?
NFTs are collectable cryptocurrencies that are designed to symbolise a one-of-a-kind digital object that may be purchased, traded, or transferred. The term “fungible” refers to something that may be substituted with something similar. A $1 bill, for example, is fungible because all dollar notes are almost identical. Non-fungible tokens are digital goods that cannot be reproduced, such as art, music, collectibles such as trading cards, video games such as skins, weaponry, or avatars, and virtual land. The options are nearly limitless. Individuals may now produce something digital, stamp it with a unique stamp within the blockchain network, and sell it to someone without the requirement for a third-party middleman such as an art dealer or thrift store.
How to Create NFT Art?
Creating NFT artwork is rather simple and does not need much understanding of the crypto sector. Prior to starting, a developer must decide which network they wish to issue their NFTs on. At the moment, Ethereum is the most popular blockchain service for this purpose, but a number of other blockchains are gaining traction, including Tezos, Polkadot, Tron (TRX), and Binance Smart Chain.
Every blockchain has its own NFT token specifications, markets, and wallet systems. For example, if someone creates NFT tokens on Binance Smart Chain, traders may only utilise those NFTs on platforms that support Binance Smart Chain resources. As a result, they couldn’t sell them on an NFT marketplace based on Ethereum, such as OpenSea.
Because Ethereum is the most widely used NFT ecosystem, let’s take a look at what it takes to create a new NFT on the Ethereum blockchain. To begin, an NFT creator will require an Ethereum wallet that supports ERC-721, Ethereum’s NFT token standard. Coinbase Wallet, MetaMask, Trust Wallet, Enjin, and D’Cent are among the wallets that qualify. An NFT creator will also require between $50 and $100 in Ether (ETH) tokens. Those who use the Coinbase wallet can purchase ETH from Coinbase using US dollars or other fiat currencies. Other users will need to purchase ETH from a cryptocurrency exchange and then transfer it to the wallet they created earlier.
Step by step guide to Create NFT Art using a marketplace like OpenSea
- After you’ve created a wallet and funded it with ETH, you’re ready to choose a platform. A number of NFT-focused services enable users to link their wallets and upload the photographs or files they want to convert into NFTs.
- Mintable, Rarible, and OpenSea are some of the most prominent NFT markets on Ethereum. In the upper-right corner of each of these markets, there is a “create” button.
- In the upper-right corner of each of these markets, there is a “create” button. Let’s have a look at how OpenSea works. After you click “create,” you’ll be taken to a screen that asks you to connect to your Ethereum-based wallet. When you submit the wallet password as required, the wallet will connect to the marketplace. To confirm they own it, you may be required to sign a message in their Ethereum wallet.
- Then, hover over the “create” icon and choose “my collections.” Then you’d press the blue “create” icon. An upload window will appear in which you can upload the image or document that you wish to convert to an NFT. Fill up the blanks with your name and a description. Essentially, you’re making a folder in which to store the NFTs you produce.
- When you add an image to a collection, it will show on the left side of the screen. Then, on the upper right, pick the pencil symbol to add a banner picture.
- At this stage, you may begin making NFTs. Click “Add New Item” and use your wallet to sign a message. You’ll then be sent to a new window where you may upload the file you wish to convert into an NFT, whether it’s audio, a picture, or a GIF.
- Users on OpenSea and similar platforms may also add specific qualities to their NFTs to make them more distinctive. We may also offer exclusive material that is only accessible to customers. This might include discount coupons or passwords that allow purchasers to access specific services.
- After you’ve finished, click “create” at the bottom of the screen and sign another wallet note to verify that you’ve created your NFT. The token will subsequently be added to your account.
How to Sell NFTs
Once you’ve acquired an NFT, you must decide whether to HODL it or sell it. For selling an NFT, the asset must be listed on a marketplace. Locate the “sale” button on the NFT that you want to sell. When you click “sell,” you’ll be sent to a price screen where you may negotiate the details of the transaction. You have the option of having a fixed price or a bidding sale.
However, some platforms will only allow you to sell for the native currency of their network. NFT designers may now receive royalties for their artwork each time a token is sold to a new individual. Set this up in OpenSea by clicking the “edit” tab and selecting the option to programme royalties into an NFT. You would be paid royalties in a variety of ERC-20 tokens. When that option is chosen, artists get royalties automatically using smart contracts.