If you are a digital artist and looking to learn how to sell NFT Art? Don’t worry this post will help you cover each aspect of step-by-step how to sell an NFT. Many artists, creators, and collectors are already using the method of the digital art collective and making tons of money.
Around $400 million of NFTs have exchanged hands-on different NFT marketplaces in the last few years and the numbers are rising. This means that market for these digital assets will continue getting bigger day by day.
So, how do you get your share as an artist?
Firstly, check out our guide on NFT and observe how NFT works. Once you are done understanding the Working of NFT, you will surely be prepared for the next steps. This next step is –how to sell an NFT Art and where.
Where you can Sell NFT Art?
There are dozens of famous NFT platforms where you can sell your NFT art at your set price in any way you want. But before you decide on any platform make sure to compare their features. So, we will discuss the best 3 NTF marketplace platforms where you can sell your NFT Art.
Presently, Opensea is the industry’s largest NFT marketplace. All you will find on the website is art, virtual world materials, trading cards, domain names, collectibles, sports, and utility tokens.
This NFT platform indexes art from different NFT marketplaces and has a wide collection of art listing i.e. over 1 million at writing. In addition, the entire items price in ETH, also some are available for a specific price and others through an auction.
Even though any artist can apply to the put up their digital art on Opensea, eventually the submission has to go through a vetting process by the team before it gets approval for the public trading platform. Lastly, artists can certainly define royalty parameters for their artworks.
Another great platform for minting and selling NFT art is Rarible. On rarible every item pricing is in ETH and either available as ‘Buy now’ or through an auction.
However, as an artist, you need to apply and get a verified badge from the team to get benefits. The approval process generally takes less than a week, but you need to provide proof that your work is original.
Further, artists must share links to their social media channels to get an authentic badge from the team, however, the criteria of a strong following and an active community will get artists a verified badge. On the contrary, artists with non-verified badges will struggle to lure any buyers.
Top sellers on Rarible bring in around £100,000 weekly. So, if a buyer resells the artwork at a higher price, they gain 10% royalty. In addition, Rarible also offers an OpenSea integration, which allows artists to use OpenSea to view and manage assets they create on Rarible.
This platform brands itself as a marketplace for collecting digital art from the world’s top artists. Artists list their work under different tags such as abstract, painting, 3D, animation, illustration, surrealism, etc.
Anyone can sign up to buy an NFT art on SuperRare but, it’s not the same for the artists. At the time of writing, SuperRare is still in the Beta phase, so artists with genuine interest have to submit a form ahead of the full release.
Presently, creators receive 85% of the amount they sell per item. Further, they also get a 10% royalty commission if a collector resells the artwork. While a buyer purchases an Art, SuperRare receives a 3% transaction fee at the time of purchase.
How to sell an NFT Art – 5 simple steps
1. Create a Web3 Wallet
Since NFTs are blockchain-based assets, you will need a wallet to create, send and receive them. Also, to pay for the transaction fees you will need to fund your wallet. Specifically, you will need an Ethereum wallet with their native currency ETH to pay for the transaction fees because the majority of the NFTs are built on Ethereum.
The maximum number of experts suggests using the Metamask wallet extension on chrome. This extension basically allows a user to connect with an NFT marketplace and use servers directly from the computer browser.
Once you install Metamask and run it for the first time, you will re a 12-word recovery phrase. Make sure you back up this phrase in a secure offline location.
2. Funding of wallet
Most NFT platforms charge fees in ETH i.e. Ether, so you need to buy Cryptocurrency from an exchange or broker and send it to your Metamask ETH wallet address. For instance, using brokers like BC Bitcoin, you will only need to provide the address on the purchase point while they transfer coins to your address.
However, if you use an exchange instead of a broker, you’ll have to withdraw ETH after purchasing it.
The majority of platforms allow you to complete the purchase using a credit/debit card or bank. In any case, make the purchase and send at least £150 worth of ETH to your Metamask address.
3. Prepare the Artwork
By now you probably have your artwork ready. If not, you can create a unique sample piece of artwork.
Browse through different marketplaces to get inspiration on what it takes to create the highest selling NFT art. The NFT you create can be anything i.e. an image, audio, video, or 3D model with a maximum size of 100MB.
4. Submit Your Artwork on an NFT Marketplace
Once you set up your wallet on an NFT platform of your choice you are ready to roll. For instance, consider the OpenSea platform and follow these steps:
- Sign in to OpenSea using your Metamask wallet i.e. click on the blue icon on the top right and then sign in
- Allow the Sign transaction made to secure your wallet
- Once done, the website will redirect you to the Account page
- Select a username and also write a brief bio
- Provide your email and complete the verification through your inbox
- Select Create from the top right and Submit NFT from the dropdown menu
- Click Create under the ‘Create new collection’
- Provide a name for the collection, description, and a logo
- Click Save and wait for the message confirming that the collection is created
- Click edit on the next page to customize setting such as header image, link it to your social media, payment currencies and royalties, themes, etc.
- Afterward, click on Submit changes and return to the Collection’s page
- To create your NFT, click on the Add New Item under Collections
- Upload the artwork with other useful information such as an external link and description
- Further, fill in Properties, Levels, and Stats using information such as the year of creation and edition of the NFT you are about to upload. You can also upload another edition under a similar collection since OpenSea only permits mint one NFT at a time.
- Click Create and approve the transaction through Metamask
- Finally, you have minted your first NFT
- Now, go back to Edit from the Collections tab and toggle the option to submit your collection for review & approval from OpenSea
- Even if the approval is pending, your artwork will be available to others with an “Unapproved Collection” tag or warning sign.
- Once your NFT art is approved you will get an Approved Collection tag
- Now after the approval, click the link for one of your art items and Select Sell
- Select your pricing model and select Post Your Listing
- Follow the wallet prompt in order to sign the transaction via Metamask
- Your NFT is now available in the public domain
5. Promote Your Content
Social proof is a criterion that is useful in getting approval in OpenSea and other marketplaces. Especially in OpenSea, you need to specify your active social media channels and also share the NFT collection with the public at least once.
Hence, make it your agenda to let your audience know that you are venturing into NFTs as soon as you mint your first collection. Experts also recommend releasing a free edition of NFTs to build your fellowship and sales record on OpenSea.
We hope you have the gist of how to make and sell NFT art. The quest of minting your first NFT art may not go as planned but, it will be worth it in the end.
With a surge in the number of digital artists, the NFT market is only going to get bigger. So, if you are new and thinking about creating and selling NFT art now is the time to start.
How do royalties work in NFTs?
Once a creator mints his/her first NFT on OpenSea or any other platform they are entitled up to 85% of the amount after a primary sale. The royalty for secondary sale by an initial buyer is around 10% or more.
Can an individual Mint NFT on Other Blockchains?
The answer is yes, even though most of the NFT marketplaces are built on Ethereum, other blockchains such as Binance, Tezos, etc. offer mint functionalities for cheaper fees so people have an alternative option.
Hungry for more information?
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NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.
Conduct thorough research before you start with NFT trading.