FxBrokerReviews.org – NFTs have transformed the way artists and creators display their artwork. NFTs have opened a huge space for them and given them the freedom to showcase and sell their artwork without any geographical restrictions.
Most artists, however, do not earn millions of dollars like Beeple, who earned over $69 million from the sale of his first NFT. But this does not mean that you back down from investing in NFTs. creating and selling NFTs provide the potential to have an extra source of income and also earn a status symbol.
To earn profits in the NFT art marketplace, it is important to understand the correct way to make and sell NFTs- as it makes all the difference. This guide by forex broker reviews has provided a step-step guide for beginners on how to make and sell NFT art. Read below to get started.
How does NFT work?
If you know about NFT trading, then it is quite possible that you might be aware of the fact that NFTs are based on blockchain technology-similar to cryptocurrencies. Blockchains like Ethereum, Solana, Tezozs, and more power the NFT art marketplaces which makes it possible to create and sell NFT art.
Let us understand the process of NFT art creation and purchasing in detail
- NFT Minting
The process of creating NFTs is known as minting. All the NFTs are minted using a marketplace like Opensea or Binance, where a creator uploads the NFT information, which is then converted into tokens and then stored in the blockchain. Tokenization is the process of generating keys for an asset. The NFT is minted through this process.
- NFT listing
After the NFT is created and stored on the blockchain network, the creator put it on display in the marketplace for the buyers. This is known as listing. The NFT can be listed at a set price or auctioned. This is how a creator sells art as NFT.
- NFT purchasing
The listed NFTs are available for users to buy in the marketplace and so when any NFT or crypto art is purchased, a blockchain transaction is initiated. The blockchain network starts its work and begins the process of validating the transaction and transferring ownership of the NFT to the new owner.
How to make an NFT art?
In this section, we have taken each process mentioned above in step-by-step detail. Read below to find out
How to make NFT art and sell it
The steps to create an NFT art are as simple as uploading a file on the digital platform. Take a look below and make your first NFT art
Step 1: Choose your NFT art
The NFT that you choose to create should be appealing to buyers and have some value to it. Therefore, before you jump to create any digital asset do thorough research about the trends in the marketplace and find out what is appealing to the investors. However, it is not necessary to be something fancy, an NFT can be something as simple as a Tweet.
Step 2: Connect to a crypto wallet
Once you have decided what you want to mint, you will need funds to mint the asset. You need to register yourself with a crypto wallet like Coinbase or Binance and add the required crypto in order to pay the fees. Read here to find out the best NFT wallets you can connect to.
Step 3: Choose an NFT marketplace
The marketplace you choose to display your NFT on plays a huge role in determining your profits. If you choose an active and popular marketplace like Opensea then you will find more potential buyers to invest in your digital asset.
Step 4: Start the NFT creation process
Now, to start the process of creation:
You need to first select the ‘create’ option on your chosen NFT art marketplace and from there you will be taken to a page where you have to fill in details related to your NFT like your blockchain, the name of your asset, its description, and price.
Step 5: Upload the file and enter details of your NFT
Now all you have to do is upload your media file or upload a link to an externally hosted media file. Next, you will need to name your NFT and fill in a description. You can even add perks to it like, unlockable content, an invite to a private channel, or even a discount code to add value. Lastly, select the blockchain on which you want to mint your NFT and select the ‘create’ option.
How to sell NFT art?
Now, that you have created your first digital token, it is time to put it on the marketplace for potential buyers. Before, you start selling any NFT creation it is important to have funds in your crypto wallet, based on the blockchain you are using to sell your NFT creation.
How to sell NFT art on Opensea?
Let us look at the steps to sell an NFT art, using one of the best NFT marketplaces. Take a look below.
Create a wallet to store your tokens
The first step to put up your NFT for sale involves choosing a digital wallet that supports that blockchain to store your NFT and initiate the transaction process. A crypto wallet is a place where you can securely keep your digital currency. Your main considerations, before selecting a wallet should be security, ease of use, and compliance with government regulations. To create a wallet, you need to download the crypto wallet app, select a username and password, and store your private keys.
Select an NFT platform and list for sale
There are various platforms available to sell your NFTs like OpenSea – it is one of the most popular NFT marketplaces to trade digital artworks with over 1 million active user wallets on the platform. Now, to sell your NFT artwork on Opensea follow the steps are given below:
- Open OpenSea, and navigate to the top right of the page and click on the Profile icon.
- Then, select the NFT you would like to sell from your wallet. If you don’t have an NFT available to sell, check out our mint NFT tutorial to get started.
- Next, click Sell and Choose the Type of sale and the Price.
- Then select how long you want the sale on display by choosing a default duration or setting a custom duration using the calendar.
- Then, you’ll see the potential fees from the sale, including a service Fee of 2.5% and a creator Fee of 3%.
- Lastly, You need to confirm your sale by signing a transaction and agreeing to the terms and conditions.
You can follow the same steps if you want to know how to sell NFT art on Rariable marketplace.
What are the best places to sell NFT art?
Now that you have learned how to create and sell NFT art, let us take a look at some of the best NFT marketplaces you can start NFT trading with.
Best NFT art marketplaces in 2022
OpenSea is considered to be one of the largest NFT marketplaces in terms of trading volume and availability of cryptocurrencies. The marketplace has a huge range of assets and allows excellent offerings to create and sell NFTs.
The marketplace is a suitable choice for beginners as it supports more than 150 cryptocurrencies. It was built on the Ethereum blockchain and also supports other blockchains like polygon and Klatyn. It allows users to buy, sell and mint NFTs in various categories like music, Art, Digital collectibles, Domain names, Sports, Photography, Trading Cards, and Virtual Worlds
- The marketplace is free to use
- Offers excellent minting tools
- The marketplace is user-friendly and easy to use
- Offers a wide range of NFTs
2. Nifty Gateway
Nifty Gateway acquired by Gemini is a popular crypto platform. The marketplace is popular for hosting sales and has exclusive NFT artworks. The marketplace mostly includes celebrities and top artists buying and selling NFTs and therefore it comes under the top NFT marketplaces list.
Nifty Gateway is a good option if you are looking to create and sell NFT art at large investments. Since the platform is a division of the crypto platform, Gemini users in the UK require a Gemini account to use crypto to purchase NFTs. Gemini also allows you to store your NFTs, Creators on Nifty Gateway benefit from a percentage of secondary NFT market sales as well as open editions, allowing them to mint unlimited editions for a limited time.
- It allows the creation of artwork like music and art
- The platform charges a 5% seller fee
- Has a profile of only high-end creators and artists.
Cardahub is considered to be the best place to sell NFT art in the Cardano blockchain. The platform is extremely user-friendly and therefore a suitable option for beginners. It also allows investors to mint and create their own NFTs and pay solely for the Cardano blockchain transaction, using ADA crypto. The marketplace is one of the few platforms that does not charge any transaction fees and only has a minimum Cardona blockchain fee for minting NFTs.
- The platform is easy to use and navigate
- Supports Nami, CCvault, Flint, and Gero Wallet
- No Marketplace fees, only Cardano blockchain transaction fees
Binance is a well-known platform in the NFT marketplace and offers low-cost NFT creation and selling. Binance allows you to purchase NFTs with only a 1% transaction fee using the Binance Smart Chain or the Ethereum blockchain.
The Binance NFT Marketplace has a wide range of NFTs in several categories, including, Art Sports, Entertainment, Gaming Collectables, Esports, and Mystery Box. The marketplace is well accessible and is an easy-to-navigate platform. For people who already have a Binance crypto account, the NFT platform is available without the need to create a new account.
- The marketplace has its exchange token
- NFTs are minted at a Low fee
- It has excellent security features
How much does it cost to sell an NFT crypto art?
When you sell an NFT it comes with a variety of fees, depending on the cryptocurrency and platform you use. Platforms like Opensea charge a 2.5% commission only once a transaction is completed. While platforms like Nifty Gateway charge a much higher commission of 15%.
Let us understand the cost of selling an NFT in detail
- Every NFT platform has its own fee structure, including listing fees, minting fees, commission, or account membership fees.
- The fees also depend on the blockchain, you have chosen as each blockchain has a different process.
- Other factors like the size of data, project quality, speed of transaction, mint time, gas fees, and more.
- Blockchain transaction fees change according to the network’s supply and demand. When there is a high demand, gas fees increases and vice-versa.
- The costs associated with NFTs also fluctuate due to the prices of cryptocurrency, as they are quite volatile and can fluctuate significantly. The prices for minting an NFT currently range from $1 to $500.
NFTs provide a unique opportunity for artists to develop their craft and run a business. Also, with the opening of numerous NFT art marketplaces, it has become easier to learn how to create and sell NFT art.
In this guide, we have explained all the steps involved in creating NFTs for beginners and also mentioned all the costs involved in the minting process.
Q1. How to make NFT art and sell it?
Ans: there are numerous marketplaces like Opensea and Rariable that allows users to easily create their own NFTs as well as sell them on the marketplace.
Q2. What can I sell as NFT art?
Ans: NFTs have made it possible to turn any kind of artwork into digital tokens, including paintings, music files, sports assets, valuable merchandise, trading cards, and more.
Q3. Can I make a profit by creating NFT?
Ans: the profits depend on who you are when you created your NFT, whether you possess any marketable artistic ability, or if you’re offering any unique utility in your NFT.