You’ve probably heard about NFTs, but if you’re not that familiar with all this new technology that is slowly penetrating every aspect of our lives, both personally and professionally, you will need to learn about it if you’re looking to enjoy some of its benefits. One of such recent technologies changing the way we think about art and creativity is non-fungible tokens or NFTs.
If you’re an artistic soul or someone who appreciates unique things, you will want to learn more about this digital form of buying and selling items. So, if you were wondering how to sell NFTs once you create them, you will find all the information you need in this article.
Creating Your First NFT
Firstly, you will need to choose an NFT platform you will use to create and sell your NFTs, including a payment wallet that you’ll use to pay fees and receive payments each time you sell your NFTs. You will find many online platforms where you will be able to make and sell your NFTs, with Rarible, OpenSea, SuperRare, and Nifty Gateway being the most popular ones.
Before you sign up on any of these platforms, make sure you check their conditions and fees as each platform has its own set of rules, so you will need to find the one that will suit what you need. Also, make sure that you have the type of payment wallet that is accepted on your chosen NFT platform to be able to receive payments and participate actively.
To mint your NFT, each of the above-mentioned NFT auction platforms will require that you pay upfront to turn your artwork into a non-fungible token eligible for sale. When you sell your NFT, keep in mind that these platforms pay in cryptocurrency, which also means you’ll need to have cryptocurrencies in the beginning to pay for the platform fees. The majority of these platforms charge their fees in Ether, the native cryptocurrency of Ethereum because that’s where the first NFTs were launched.
If you have some Ether, you will need to have it in your digital wallet because the platform will require you to connect the wallet to the platform so you can later make and receive payments. If you don’t have and need to buy, you will find numerous cryptocurrency exchanges that will trade it for you.
Set Up A Digital Wallet
Visit the digital wallet’s website to set up a digital wallet of your choice. Once you pass through the signup process, you will have your account set up and ready to top up with crypto money. If you don’t have any ETH, you will need to purchase it by clicking on the ‘Buy’ option within a wallet and depending on the platform, you will be offered several payment options. Once you decide whether you’ll pay with your debit card or by using another method, you will soon have some crypto money to join the NFT platform.
Connecting Wallet with NFT Platform
Once you have completed researching different options and found the wallet that will satisfy your needs, you will need to connect it to the NFT platform. The process of connecting your digital wallet is the same as most NFT platforms. Within the platform, find an option to connect the wallet and follow the simple, straightforward instructions of connecting your chosen wallet.
Now, that you’ve successfully connected your crypto wallet with your NFT platform, you can start uploading files you wish to turn to NFTs, such as NFT in sports or your unique art pieces. Within the NFT platform, you will easily find the option to create an NFT. You can either create a single, one-off work or decide to sell the same piece several times.
Then, you will need to upload your file. Keep in mind the majority of NFT platforms accept PNG, JPG, GIF, WEBP, MP4, and MP3 files. Each file you decide to upload will need to be below 30MB.
Selling Your NFTs
When talking about selling your NFTs, you will need to decide among three options. The first one is the fixed price, in which you’ll be able to determine a price and sell an NFT instantly once somebody decided to purchase it. With the ‘Unlimited Auction’ option, other people will bid on your NFT until you decide to accept one of them. The last option is ‘Timed Auction’ which will be set for only a certain amount of time.
There is no right or wrong when choosing the way you’re going to sell your NFT. Mostly, it will depend on your preferences and your assumptions of what might work better. Another great way to make money on these platforms is with NFT lending. Users are able to lend their assets to others and earn their money that way within the platform.