How to Sell an NFT? – A Definitive Guide

Have you ever heard of an NFT but are not familiar with it? This article will help you learn how to sell an NFT and other relevant information.

In the era of competition, innovative people are rushing towards making money through investing in NFTs. NFTs are worth millions of dollars. However, people are desperate to invest in them every passing day. It is a form of digital ledger that can be sold and traded. If you are new to the market, know what an NFT is and grasp the idea of the market where you should sell it at high prices. You can sell NFTs with the help of suitable ways, even if you are not a master. 

 

An NFT (non-fungible token) is a unique non-interchangeable unit of data stored on a blockchain that can be sold. You can sell and trade NFTs even without heading to galleries. Follow this article to know the ideas on how to sell an NFT and everything related to it in-depth. 

What is an NFT?

An NFT is a non-interchangeable unit of data reserved on a blockchain, a digital ledger that can be traded. It is a digital asset representing real-world objects like art, music, in-game items, videos, or a virtual baseball trading card. A non-fungible token is created and sold in cryptocurrency, digital cash with an encrypted key, usually in a random string of numbers. Every NFT is non-replicable and non-interchangeable. For example, the Statue of Liberty and the Mona Lisa are non-fungible items.

 

In addition, NFTs allow users a flexible way to store, control and save the information related to their identity. NFT is the latest technology important for artists, creators, and businesses. These digital assets are sold and bought online, commonly with cryptocurrency. NFTs are unique and can’t be substituted. One great advantage of NFT is that its creators can also receive royalties from their NFTs and a percentage of future scales of their NFTs. 

How does an NFT work?

NFTs transform a digital work of art and other collectibles into a verifiable digital asset traded on the NFT market or NFT blockchain technology. People investing in non-fungible tokens need a digital NFT wallet that fully supports the blockchain protocol on which it builds the NFTs. 

 

Users commonly use Bitcoin, Ethereum network, and dogecoin as cryptocurrencies which are the medium of exchange. A blockchain is a dispersed public ledger that records your transactions. Once you log in your scope onto the blockchain, every transaction from transfer to sales is recorded on the chain, creating an easily accessible ledger of provenance and price history. 

Is it easy to sell an NFT?

The foremost step to sell an NFT includes choosing a blockchain platform. You don’t need to head to markets to sell your creativity and skills; it’s just a click away. You can take a few steps to sell the NFT mentioned below: 

Select a platform for minting

When picking a blockchain platform, consider a few things, such as the creator fees paid to the blockchain for every scale and if the platform specializes in certain digital assets.

 

For instance, if you sell an NFT on the Ethereum blockchain, you may have to pay transaction fees typically known as “gas.” On the largest NFT marketplace, OpenSea, NFT creators pay one-time enrollment fees, and the platform does not charge for creating and listing an NFT collection for sale. 

Mint the NFT

Before selling an NFT, you need to create or mint the digital asset. NFT minting is creating digital art or content as a part of the blockchain.

List the NFT for sale

After minting the NFT, you can opt to list the digital asset for sale on the marketplace. You will see the other options, such as the price, the auction time, and the kinds of cryptocurrencies accepted.

How do I sell my NFT digital art?

Create a wallet and fund wallet with ETH. Then prepare your artwork, submit it to an NFT marketplace, and promote your content. 

 

Log in to sell your NFT digital art on the most influential marketplace, OpenSea. Then click on ‘profile’ in the upper right-hand corner. After that, browse your NFT collection and tap on the NFT you would like to sell. Then choose ‘sell’ at the top right-hand corner of the page to be taken to the listing page. In the next step, decide how to sell your NFT.

 

There are two types of fees; a 2.5% ‘service fee’ and a 5.0% ‘creator royalty fee.’ The highest percentage to be deducted from an NFT on OpenSea is 12.5%. Pay fees and finalize your NFT listing. 

 

Lastly, a popup will appear, and you will have to authorize a signature request to finalize your NFT listing. And that’s it! You have listed your desired NFT for sale successfully. 

Can you sell NFT art?

You can create and sell NFT art. If you want to sell an NFT, tap on the blue sell button at the top right of the screen. Pick a fixed price option and a timed auction if you desire people to bid on your NFT. Creating doesn’t cost money, but minting and trading your NFT art incurs Ethereum network and marketplace fees. Trading NFTs can be doubtful, given the volatility in the young movement.

How can I sell NFT fast?

Take assistance from social media platforms to sell your NFT rapidly. Showcase your artwork on Twitter, Facebook, and Instagram, and join Reddit NFT groups. Keep actively posting and promoting your NFT. Instagram is an excellent platform to showcase your portfolio.

 

Create an Instagram professional page and upload your NFTs. The collectors exhibit your recent projects and see your past work in this way. Post stories relevant to your content. Add hashtags in your post captions to reach more individuals across the globe. Hashtags can make you appear more in searches.

 

To catch more audience’s attention, provide the backstory of your NFT to weave into the NFT community. 

Tips to get someone to buy your NFT

An NFT’s price is community-driven and triggers you as a seller. Make your NFT unique that people crave to buy and ask you, is that a limited edition?

 

  • As a developer, maintain your NFT well to resist the corrosion brought by time.
  • You can promote yourself in the world of NFTs by speaking your creative mind on discord channels and attending calls and streaming parties.
  • People evaluate the value of an NFT considering three factors: rarity, utility, and tangibility. So, ensure your NFT is unique. Rarity and scarcity can help it stand out in the market.
  • While describing metadata, provide a clear explanation about your NFT. Customize it to reflect the characteristic style and distinctive features of your NFT from the perspective of content and expressive form.

Conclusion

NFTs are ruling the world as they are a source of making a massive amount of money. Investing in NFTs would be a never-regretting decision. You can create an NFT for free, but you require paying a gas fee to sell it. However, research which platform best fits your needs before making an NFT. 

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