Last updated on March 25th, 2022
NFTs (Non-Fungible Tokens) have brought a paradigm shift in the art world. It has made artists self-reliant as they are no longer dependent on art galleries and art dealers for promoting and selling art. Now, many online NFT marketplaces are happening places where transactions occur frequently. This post will guide you step-by-step to help sell your NFT artworks.
If you are a digital artist, NFTs might entice you as a new way to sell your art globally. You can prioritize whom to sell the art and at what price, royalty percentage, etc. So, you decide on how you want to sell your NFT art.
Where can you sell your NFT art?
There are dozens of new and famous NFT platforms where you can sell your NFT art at your set price and whichever way you want. But not all those platforms are made equal, and you should compare them for their unique features.
Most NFT marketplaces run on the Ethereum blockchain. These platforms charge a transaction fee from both the buyers and sellers. In addition, sellers can set a royalty of up to 10% for each art resale.
Here Are The 10 Most Popular NFT Marketplaces
These are amongst the most visited NFT platforms. But there are many others that you should compare and see which ones are most suitable for your style of NFT art. For example, some NFT sites are dedicated to a particular art theme and style. So, compare many of them to find which NFT art marketplace best suits your art style and theme.
Here Are The Steps You Need To Take To Sell NFT Art
01. Signup With An NFT Platform
The first step to selling NFT art is registering yourself on an NFT platform. When you sign in, you access all the features of the platform to have updated development happening in the NFT world. After that, you will create and sell your art and a payment wallet for the transaction.
OpenSea, Rarible, SuperRate, Foundation, Nifty Gateway, Axie Marketplace, NFT Showroom are popular online NFT platforms. You will also need to sign up with an NFT Payment platform such as MetaMask, Coinbase, Portis, Torus, MyEtherWallet, WalletConnect, and Fortmatic.
02. Buy Cryptocurrency
You will need cryptocurrency to pay upfront to buy and sell your NFT art, called ‘mint.’ By ‘minting’ your NFT, you can convert your artwork into a non-fungible token to sell it. You will also be paying the fee of the marketplace in cryptocurrency.
Most NFT platforms charge fees in Ether [ETH], which is the native cryptocurrency of the blockchain platform Ethereum. The cryptocurrency is called Ethereum because it is the place where NFT was first launched.
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03. Have Your Digital Wallet
Then, you should have a digital wallet from which you will pay for your NFT art. There are many digital wallet options that you can explore. MetaMask, for instance, is one of the most used wallets you can add as your browser extension and a mobile app.
You need to visit the MetaMask website to create its digital wallet and choose the desktop or mobile app option to install the wallet. You will then create your new digital wallet and see the phrase, which you should save carefully somewhere with you as you will need it later.
It stores your blockchain information, which will be lost forever if you forget the seed phrase. Then, after agreeing to the terms and conditions, you have your wallet created.
04. Add Cryptocurrency To Your Wallet
After creating your digital wallet, you should add some ETH, the cryptocurrency. You can buy ETH from your MetaMask wallet by clicking on its ‘Buy’ button and then on the option ‘Buy ETH with Wyre.’ Then, buy the cryptocurrency using your debit card or Apple Pay.
But while on cryptocurrencies such as ETH and bitcoin, note that its value fluctuates. For instance, the value of 1 ETH in 2021 has increased from $1000 to around $4,700. It fluctuated many times during the period, and the value can swing either way by many hundreds of USD in hours. So, keep that in mind while buying the ETH or other cryptocurrency.
05. Link The Wallet To Your NFT Platform
The next step is to connect your digital wallet to your choice of NFT platform. These platforms have the option to link any of your wallets in quick and easy steps. Just accept their terms and conditions and click the submit button, and you have your wallet connected.
06. Upload Your Art File
Now that your NFT platform and digital wallet are linked, upload your art to the platform. In this way, you will turn the art file into your NFT art. The platforms have a ‘Create’ button that allows you to create a single art, your one-off work. Or, you can choose to sell one item multiple times.
When turning your art into NFT art files, most NFT platforms accept GIF, PNG, WEBP, MP3, and MP4 files with a size limit. For instance, if you have created a brand logo using a startup logo maker, you need to upload the accepted format as per the platform. In addition, after you upload your digital file, the platform will let you see a preview of your NFT post.
07. Set Up Your NFT Artwork Price
It is now time to set up your NFT artwork price. The NFT platforms give you three choices in this regard. You can choose the ‘Fixed price’ to sell your art instantly at one fixed price that you need to set. If you select the ‘Unlimited Auction’ option, you allow people to bid on the work until your satisfaction. You can sell to the highest bidder after you think that the price is satisfactory. Then, the third option is ‘Timed Auction,’ which allows you to set a time about how long the auction will last.
But note that if you choose to set your NFT art price too low or at a minimum level, it may not be profitable. The high fees will eat up your profit. So, it is better to set your art price a little ambitiously and start it at 1 ETH, which is currently USD 3165.31. Then you can give a week to bid for your NFT artwork.
08. Write A Description of Your Art
Make sure that you add a description of your NFT art. Tell what it is about and make it enticing and valuable to maximize their sales chances. Take your time to develop a description that gives a reason to buy the art.
For instance, you are planning to sell bitcoin logo. On the description page, you will also need to tell what percentage of royalty you want to charge on the sale of your art. You will get the rate of royalty on any resale of the art in the future.
When setting your percentage of royalty, keep it in balance. You’ll get more money on each sale if it is on the higher side. But higher royalty may also deter people from buying NFT art. So, keep the balance.
09. Promote Your NFT Art
Now that you have completed all the steps to put your NFT art on an NFT marketplace of your choice, set the wallet and price, etc., tell the world that you have the artwork to sell. You should aggressively promote the art on different social media channels. Many marketplaces such as OpenSea require you to promote your art on social channels. You should share the artwork often with the public.
Get the word out that you are entering the NFT world just after minting your first art collection. Also, build your fellowship and sales record on NFT marketplaces.
Do not expect success overnight once you know how to sell your NFT art. Also, do not think you will sell your art at astronomical prices. Some NFT art got sold at historical prices, which is encouraging. For instance, Everydays -The First 5000 Days by Beeple was sold for $69 million in March 2021 at Christie’s. His digital/physical kinetic video Human One also was sold for $29 million in November. Many other NFT artworks fetched over $1 million, and there is an even larger number of artworks sold for hundreds of dollars.
While not every NFT art will fetch great prices, you will still get much higher prices for your art if you promote it strategically.
Also, make sure that your NFT logo is unique to speak for your brand and art style. Designhill can help you get your unique logo that will be your identity across all the platforms. Then, just launch your logo design contest with your brief, and you will get dozens of logo ideas, and you can pick one winning logo for your NFT art.
NFT art is trending everywhere as it sells at enticing prices without any middlemen such as art dealers in between. You can quickly sign up to a reputed NFT marketplace to convert your art as NFT and sell it at an attractive profit with carefully taken steps.