If you’re an artist who’s been wondering about how to sell NFT art, your search ends here.
The internet, more specifically Web3, has changed art trading worldwide. Gone are the days when artists would create a unique piece and hope for it to fetch a reasonable price at a local auction.
Art has become a non-fungible asset, meaning it cannot be copied or replaced. This practice gives exclusivity rights to every artist.
Art that cannot be copied or replicated automatically becomes exclusive and has a value attached to it. This art can be an image, a painting, a song, a music album, or anything that can reside in the digital world and get experienced by the lovely folk on the internet.
The art lives on the blockchain, which is an online ledger. It is treated like a piece of information or a token. Hence, it is called an NFT, or non-fungible token. You may have just encountered some words and terms that seem too technical.
You're probably wondering, "Where can I sell NFT?" Good question. Before we dive into how to sell NFT art, let's simplify these terms for you.
The internet is evolving faster than ever. Higher internet speeds, technology adoption, and improved computing gadgets have created new online applications and abilities.
The classic World Wide Web has entered a new era and is now called Web3. Web3 is not software or hardware; it is an idea that the internet has infinite potential to be more than just a place for speed dating, enjoying music, and gaming.
The internet is where you can now buy and sell objects, trade in currencies that no central authority or government regulates, and even host virtual conferences using your digital avatar. In your journey to discover how to sell NFT art, you will come across these terms. We will help demystify them for you.
As the name suggests, cryptocurrency is a form of currency that everyone cannot decode because it is cryptic. Are you even more confused now? Don’t fret. Let’s break it down for you, shall we?
Simply put, cryptocurrency is a digital currency. You can only use it over the internet. No reserve bank or federal authority has any claim over cryptocurrency. It truly is money by the people and for the people.
Several cryptocurrency options exist, such as Bitcoin or Ethereum. Most cryptocurrencies are finite, meaning there will only be a fixed number of them in circulation across the blockchain. ‘Finite’ cryptocurrencies have a higher value than ‘infinite’ ones.
Just like you collect your actual cash and store it in a physical wallet, you need a place to keep the money you make as cryptocurrency. When you discover how to sell NFT art and have managed to make a sale, you would want the money to be safely stashed away at an online destination of your choice.
Crypto wallets like Coinbase, Electrum, and Metamask help users trade freely with cryptocurrencies. It is recommended that you do your research before choosing a crypto wallet.
It is necessary to have a ledger for any financial transaction. In the world of cryptocurrencies, where there is no governing authority to assess the history of currency, the blockchain comes into play.
It records where the money came from, what it was used for, and who had access to it. Understanding this concept is essential when planning how to sell NFT art online.
Think of the blockchain as a digital ledger system distributed across the entire network. It consists of blocks of information linked together by a chain. The chain keeps extending as multiple entities access the data or NFT.
The value of assets on the blockchain is recorded at every transaction, making it more secure and transparent to work with. Blockchains are free for all to use and are owned by everyone who uses the network.
When governments print new currency notes, it is called minting. In the blockchain context, you do not have actual physical notes and coins to print. What you do have are objects of value.
You can put a new token (which can be any form of art) to mint an NFT into the digital world. The blockchain mints this asset and assigns a code to it. A new ledger gets opened for the object you wish to mint and thus begins its journey in the blockchain.
This quirky term refers to the amount of money you must pay to open your ledger. The blockchain resides across various computers and servers. These are actual, physical devices that need to be maintained and kept running.
Gas fees are charged to those using a blockchain. Its value can rise and fall depending on the demand for that blockchain.
So, how to sell NFT art without paying gas fees up front? You can do so by selling your product and then minting it. As a result, the gas fees can be included in the cost of the NFT, protecting artists from having to pay to sell.
Modern digital art, such as NFTs, can be stunning in its beauty or incredibly dull. Ensure that your NFT business has some credibility be having an excellent NFT logo as proof that the rest of your visuals are up to par.
Check out some of these awesome NFT logos below, compliments of the LOGO.com free logo maker. Click one, customize to your heart’s content, and get it for free! No strings attached.
By creating your own NFT logo, you’ll find more benefits from it in the long run. It speaks volumes about your taste to customize wisely.
Visual content has become a phenomenon. Owning it, in part or whole, is becoming an obsession for many. This fad has encouraged artists to put up their ‘wares’ on frequented marketplaces, where buyers are always ready with some money to splurge.
Knowing how to make and sell NFT art ensures that the piece of art will be exclusive and never reproduced before, which automatically increases the value of the art. So, how do you reach out to this exciting market? Where do you find these buyers, and where do you host your products?
Here are eight simple steps to help you create a unique revenue stream for yourself by selling your digital art as NFTs.
If you do not have a wallet offline, it doesn’t matter. A pocket would suffice to carry your cash around. In the digital world, it’s another matter.
Wallets are essential in digital transactions because this is where your cryptocurrency is stored. Digital wallets offer several convenient features that let you earn and pay with them. One crucial factor is that each crypto marketplace supports different wallets.
Do your research before deciding which one to use. If you are new to cryptocurrency and the blockchain, it would be a safe bet to open a wallet with Ethereum, the most popular currency used in NFT exchanges. It makes sense to create your digital wallet at the very beginning to speed up your online purchase process as a buyer and seller of NFT art.
Now that you’ve picked your wallet, you can proceed to choose a marketplace. Many marketplaces are available for NFT buyers and sellers. Here are some of the most popular ones:
Among the first platforms to open up on the blockchain is OpenSea.io. It is free to sign up here (not all crypto marketplaces offer free sign-ups). The platform does not restrict the sellers it has, meaning you can sell here whether you are a large enterprise or a tiny grocery store.
One does not require any coding knowledge while working with OpenSea.io. It allows “lazy minting,” a feature where you can mint an NFT only after it has been sold. It protects artists from paying up-front for gas fees.
Rarible offers sellers the option of lazy minting. It is also considered one of the most cost-effective yet well-reputed NFT marketplaces. Buying products on Rarible is quick and easy, as they are priced in ETH. Sellers on Rarible are trusted because they receive a verified badge from the platform.
The process of obtaining the badge takes a few days. Some users choose to skip this step at their peril.
As a platform, SuperRare is social media for artists. They can meet, collaborate, and sell together. The blockchain's secure nature makes it increasingly attractive to have a meeting that isn’t physical. Buyers can access a vast artist portfolio. Think of it as DeviantArt but for NFTs.
You can choose from several other crypto marketplaces that thrive on selling digital art.
If you are new to the world of cryptocurrencies, then the first one you should go for is Ethereum. It is among the most widely used cryptocurrencies and will be supported on any marketplace you choose.
You may wonder why you must buy money before making money. Transactions on the blockchain cost money. Even as a seller, listing and minting cost a fee. Having sufficient funds in your crypto wallet will help you avoid any hiccups.
Now that you have your crypto wallet and marketplace, you must prepare to make a big splash with your art. As soon as you set up your wallet and store cryptocurrency, you can connect it with your NFT marketplace. Each marketplace has its own process for connecting your digital wallet with its services.
Platforms like OpenSea.io have a simple interface that doesn’t take up much of your time. You can click ‘Create’ and fill in the requested details via the form. Be elaborate and detailed in your description because this is what your prospective buyers will research before buying your art.
Check if your marketplace offers the option of royalty. OpenSea.io allows you to set royalty amounts and gives you a percentile payout every time your NFT art is further sold in the future.
There is no fixed cost for this, as the value of cryptocurrencies fluctuates regularly, as do the prices on the marketplaces. It would help if you were wary of the gas fees you may have to pay when you mint your NFT.
Here’s the big moment you have been waiting for: unleashing your art on unsuspecting potential buyers.
Now that you have made all your payments, filled out the forms, and prepared your art in the best possible shape and format imaginable, it is time for you to hit the upload button.
Make sure you check that your file is in perfect condition, just as you intended it to be, before uploading.
There are two types of pricing structures you can adopt when you sell NFT art. You can put your art up for auction, where bidders will keep pushing for a higher price to get hold of your art, or you can set a fixed price.
If you're wondering how to make money from NFT art, this is it. In the case of an auction, you get to set the minimum selling price for the product. The auction begins from there. In the case of a fixed-price NFT, you know just how much money your art will fetch.
Making this choice is a function of a thorough analysis of how your art is appreciated and basic human behavior. Set a fixed price if you know the art does not stand a chance of being valued higher than your chosen price. It could be terrible having to realize that your art could retail for way more than it did just because you fixed its price.
Remember when we spoke about creating a detailed description earlier? Art exhibitions often have descriptors that talk about the artist and the piece of art: what inspired them to make the art, how they interpret its message, and how they advise viewers to appreciate the art.
On the blockchain, the only description your humble piece of art will have is the one you give it at the time of uploading.
Be as detailed as you can be. This description can make or break a possible sale. It is art, so buyers love the work of someone profound in their thought.
At the same time, being a digital piece, the attention span of buyers isn’t as great as it would be in an art gallery. It would help if you detailed your expressions and came to the point soon. The title of your NFT should be mentioned and explained in your description.
Some of the most popular NFTs are the ones that have a story behind them. Even NFTs that feature an animal in some form, meaningful moments, or key characters from films do pretty well.
There’s a fee for everything. Even selling your own NFT will require you to make an initial investment, and no, this isn’t the time and effort you put into honing your craft. Listing fees are pretty significant, given how highly priced your art can be.
This payment has to be made as soon as you click ‘Create Item.’ Your wallet will be connected to the marketplace, and the money will be deducted. You will be prompted to add more money to your wallet if you do not have sufficient funds.
The listing fee isn’t the last fee you will be paying. If your art sells, you will have to pay a commission fee on the sale and a transaction fee. The challenge is that these fees are never a fixed value.
Blockchain technology is unpredictable, with fluctuations plaguing it throughout. It is best to stay prepared for a hefty price if you are foraying into the exciting world of cryptocurrency and asking ‘how to sell NFT art in 2023.’
What are some commonly asked questions about how to make and sell an NFT? Get your questions answered with these three FAQs.
Contrary to popular belief, selling NFT artwork is not difficult. One option is to list them on an online marketplace, while the other is to go straight to the buyer. When selling NFTs, it's important to take a few factors into consideration, such as the asking price and the safety of the transaction.
The use of NFTs has completely altered the market for creative works. Though most artists won't make $70 million from an NFT like Beeple's "Everydays," the ability to create and sell NFT art has given creators more control over the publication and distribution of their work.
The price of making an NFT can be anywhere from $0.05 to over $200. In addition to the price of blockchain, gas fees, marketplace account fees, listing fees, etc., the total cost of creating NFTs can vary widely. The most expensive blockchain is Ethereum, while the least expensive is Solana.
With this article, learning how to make money from NFT art is a breeze. Selling NFT art requires resilience and some good luck to make that first sale. The real magic of the activity is realized when you see the fruits of your efforts.
Only some people begin learning NFT art sales in an instant. It is far too new a concept for experts to weigh in heavily with their stories. Just remember that selling NFC art is a prestigious platform for you, as an artist, to take your wares and fetch a hefty sum for them without stepping out of your home's confines.
We promise this will be a prestigious journey of learning, earning, and yearning to do it all over again. Happy selling!
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