Booming at the same time as the GameFi market, NFT is considered one of the fertile lands that brings huge cash flows to players. So, how to sell NFT? How to make money from it? CoinMinutes will guide you in detail through the article below.
How to Sell NFT?
Choose an NFT marketplace
To sell NFTs, the first thing you need to do is find a reputable NFT exchange with many visitors. Some popular NFT marketplaces you can refer to are OpenSea, Rarible, SuperRare, Foundation, and Nifty Gateway. These exchanges have a very large trading volume and each provides full functionality so you can post or sell your works easily. Research and compare different options based on the type of NFT you want to sell, the transaction fees, and the functionality these exchanges offer to choose the right marketplace for you.
Set up a crypto account and wallet
Next, you will need an account and set up a digital wallet, which will allow you to store your cryptocurrency. This is also a tool for you to trade on NFT markets. There are many works of art and pictures being sold and traded by artists as well as collectors here. You can choose one of reputable e-wallets such as MetaMask, Trust Wallet, Coinbase,… to make NFT sales transactions.
Regardless of whether you sell or buy NFTs, you need to have a certain amount of cryptocurrency to be able to charge Gas when making transactions on the Blockchain. You should buy some cryptocurrency and transfer it to your wallet. The most popular and widely used cryptocurrency in the NFT market is Ethereum (ETH), so you know which one to buy. If you want to purchase cryptocurrency, you can choose the world’s largest exchange, Binance. With just one simple step, you can immediately buy the amount of Ethereum you need.
Connect your wallet to an NFT marketplace
Most e-wallets work similarly. No matter what wallet you have chosen, once you have some ETH in your wallet ready to pay, you can go to the NFT platform you will use to sell your NFTs.
Below is an example of connecting Metamask wallet to Opensea exchange, you can follow these steps:
- Open a web browser and visit Opensea.io.
- Click the avatar icon at the top right of the screen and select “Sign In” to log in to your account.
- After logging in, click the avatar icon again and select “My Profile”.
- On your profile page, click the “Connect Wallet” button at the top right of the screen.
- Select “Metamask” from the list of wallets supported by Opensea.
- Click the “Connect” button. A window will then appear allowing Opensea to access your Metamask wallet.
- Confirm the connection by entering the Metamask password and clicking the “Sign” button on the window.
Once connected successfully, you can make transactions on Opensea using your Metamask wallet to buy and sell NFT art.
Upload the file you want to turn into an NFT
Once you’ve completed connecting your wallet to Marketplace, your job is to upload your NFT creations. You can post images, videos, music, or another digital item that you want to convert to NFT, below are the specific steps to do on Opensea:
- Select “Create” from the navigation bar at the top of the website and choose “Single” or “Bundle” depending on the collection you want to create.
- Enter information about your NFT, including name, description, and item.
- Then upload an image of your work by clicking the “browse media on your device” button in the “Image” section. Please ensure your painting meets Opensea’s technical requirements.
Set up an auction or fixed price
Next step, you will need to choose how you want to sell your NFT. There are three price-setting options for NFTs, the first being ‘Fixed Price’, which allows you to set a price and sell it to someone immediately. The second way to set a price is ‘Unlimited Bidding’, which will allow people to continue bidding until you accept the final price. Finally, a ‘Timed Auction’ is an auction that only runs for a certain period, people can only bid and buy NFTs during that period.
Add a description to sell your NFT
Once you’ve finished setting up your price, add a title and description to your NFT store. To increase your chances of selling an NFT, you will need to spend some time thinking carefully and carefully writing the description of the features or introduction of the NFT so that it is concise and meets the buyer’s needs.
Pay the listing fee to sell your NFT
Most exchanges charge a small fee to list and sell NFTs. This fee is usually paid in ETH. You need to pay this fee for your NFT to be listed on the exchange.
How to Promote & Sell Your NFT Art for Free
One of the sustainable and effective ways to promote NFTs is to create useful content about them. You can create articles, tutorials, and videos on channels like Facebook, YouTube, and Instagram to promote your NFTs. Additionally, you can provide information about the work, the story behind each NFT, and why people should care. In these ways, you can create a community of NFT enthusiasts, thereby promoting your NFT creations to more people.
In a survey, about 63% of marketers agreed to increase the budget for campaigns using influencer marketing. With Influencer marketing, you will easily reach Influencer’s loyal customer base.
Therefore, you should contact famous artists and NFT collectors in the community and ask them to promote for you. Co-creating an NFT with them or offering them a portion of the commission on the sale will be a win-win for both parties.
Participate in NFT communities
As mentioned above, joining the community will help you promote your NFTs to the right target audience. Join forums, Discord groups, and NFT communities, interact with people, share your work, and support other artists. Building reputation and relationships within the community will make it easier for you to sell NFTs.
Top NFT Marketplaces for Selling
Opensea is one of the largest NFT marketplaces today and was launched in 2017. OpenSea will allow users to sell, exchange, and trade their NFT assets based on smart contracts in blockchain technology. On OpenSea, you can participate in exchanging, buying, and selling NFT collectibles, game items or characters, art videos, etc.
OpenSea is built and designed almost in line with current market trends, creating a large source of liquidity for a large number of NFTs in crypto & non-crypto.
Rarible is a creator-centric NFT Marketplace and publishing platform. The platform uses the RARI token to empower users to actively interact with the protocol. RARI holders have voting rights on project decisions.
Additionally, users on the Rarible platform can easily create NFTs of unique digital items such as works of art, game items, etc. The platform provides users with a fully featured Marketplace filtered and sorted using different categories creating an easy and smooth user experience.
Is it hard to sell NFT art?
Selling NFTs requires a bit of effort and marketing strategy, but isn’t too difficult. The key is to create high-quality work, build a community of followers, and promote effectively on social media channels. You should also research prominent NFT trends to create related work.
Is selling art NFT profitable?
It can be very profitable if you sell NFTs at a high price. Some NFT artworks have sold for hundreds of thousands or even millions of dollars.
How is NFT converted to cash?
When you sell an NFT, you will receive cryptocurrency in your wallet such as ETH. To convert to cash, you need to transfer ETH from your wallet to a cryptocurrency exchange like Coinbase. From there, you can sell ETH to withdraw USD to your bank account.
NFTs are opening up new opportunities for artists and creators to monetize their work. Above is an article about How to sell NFT that CoinMinutes compiled. By following the simple steps above, you can easily sell NFTs on popular exchanges like OpenSea or Rarible.