Are you planning to make a lot of money out of your creative work by staying at home? Or willing to sell your Digital Artwork on a creative market at a Gigantic price?
Then the NFT Business is definitely going to be your next exciting way to earn whopping money online with your creativity and by doing what you love!
Digital artists, illustrators, and designers all around the world are rolling up their sleeves to put their breathtaking art material on the blockchain.
Some of you might be curiously wondering, “What is an NFT?”. Or questions such as “How can I make money with NFT?” might be popping in your head right now, Right?
What Exactly is an NFT?
First of all, let me introduce NFT to people who are not familiar with this hype word! NFT stands for “Non-Fungible Token”, where Non-Fungible means that the digital artistic work to be sold and traded is Unique and Cannot be Replaced with Something Else.
NFTs are quirky artwork tokens that represent ownership of any creative items, from paintings, GIFs, or vintage action figures to music to in-game items and video files. Today, individuals are selling them for millions of dollars.
But instead of purchasing a physical item, you will be paying for a digital file and ultimately become the owner of the original copy. It allows the digital content to become logged and verified on cryptocurrency blockchains. NFTs are stored in a digital wallet, just like cryptocurrencies.
Examples of Some Inspiring NFTs
Mike Winkelmann, professionally known as Beeple, is a graphic designer from the USA, who produces unique and eye-catching artwork pieces, including short films. In March 2021, he sold his purely digital masterpiece artwork, “EVERYDAY’S – THE FIRST 5000 DAYS”, for a mighty price of $69 Million and became one of the top most valuable digital artists who create extraordinary work with a blasting crypto art record!
Some of the most spectacular and notable NFTs are Nyan Cat, The Merge, Taco Bell, Cryptopunks, Crossroads, Ocean Front, Stay Free, Replicator, and The First Tweet.
If you have got This far, you might be wondering, “Can I make an NFT?”. But don’t worry; I’ve got you covered! And I’m sharing a bonafide guide with you that will help you grasp NFT!
Who Can Make an NFT Art?
Well, anyone having a decent amount of money to invest can create an NFT artwork. It’s almost 2024 and NFT platforms provide a variety of advanced tools and technologies so you can craft any kind of NFT with ease and attach unlockable content to your files.
No matter who you are – an artist, collector, musician, entrepreneur, or company – with the help of simple minting tools on NFT marketplaces, you can generate a piece of art, convert it into an NFT on the blockchain and set it up for sale on his own chosen auction platform.
There are different platforms to pick from, but generally, you only need to fill in the details of your NFT, upload your artwork, and pay your minting fee.
Top Marketplaces to Mint & Trade NFTs
Usually, art enthusiasts will mint their out-of-the-box artwork on an NFT marketplace. The process of turning your digital work into an NFT so that it can be sold or traded is known as “Minting”.
There are various marketplaces that have emerged around NFTs, which let you buy and sell. Some of the popular sites where you can trade your NFTs are:
- Axie Marketplace
- Nifty Gateway
- NFT Showroom
Now, here’s how to start making your own NFT, sell it, and earn a massive amount.
How to Create & Sell an NFT
By following the steps below, one can swiftly create and sell an NFT:
Decide the NFT Type
The very first thing that you need to do is decide what type of NFT you would like to create and how it can offer value to your audience. You can choose artwork, media (image, audio, video), music, memes, games, virtual items, and so forth – The options are endless!
If the NFT you’ve decided to make is simple, you won’t require a developer. But, if it’s a complicated artwork, like a game, then you will surely need the help of a developer. You can even hire an artist to make custom art for you.
Pick a Blockchain & Buy Cryptocurrency
After deciding your NFT type, you have to choose a blockchain and purchase cryptocurrency because the NFT minting process requires cryptocurrency for fees.
For this, you can select Ethereum. It is one of the most renowned and leading cryptocurrencies that many businesses use in NFT exchanges and is supported on any marketplace that you choose.
To know if blockchain and cryptocurrency are here to stay, read up on ‘Blockchain & Cryptocurrency Reality Check’.
Select an NFT Marketplace
Next, you will select a marketplace where you can mint and trade your artwork. As discussed in the previous part, there are umpteen of them to choose from, and all of them have their own pros and cons. Nonetheless, it would be best to do proper research before picking any.
Popular NFT marketplaces include OpenSea, Rarible, and SuperRare. OpenSea is an excellent choice for beginners who are looking to kick off with a simple marketplace. Rarible is a great option for someone who requires access to a large network with solid connections. While SuperRare is perfect for those who want high-end NFT artwork.
Create a Digital Wallet
Before uploading and creating your NFT art, the marketplace requires a wallet connection as many of them, including OpenSea, collect a percentage of the sale price. So, now, you have to create a digital wallet. It will store and protect your cryptocurrencies.
Some widely used digital wallets include Ledger, Guarda, Exodus, etc. We recommend MetaMask for Desktop, Trust Wallet for mobile users, and Ledger Nano X for maximum security. Still, do your research before plumping for any.
Connect Wallet to NFT Platform
Once you’ve successfully set up your cryptocurrency wallet, it’s time to connect your chosen marketplace with the cryptocurrency you just bought.
So, visit your NFT marketplace. There you will see an option like ‘connect to a wallet’. When you click on it, your digital wallet will connect to the NFT marketplace, and the money will be deducted.
Mint Your Artwork
This is the step where you’ll upload your digital file and convert it into an NFT. But before this, complete all your payments and fill out all the necessary information.
Then, prepare your artwork in the best possible format and shape imaginable. You can choose from formats, such as JPG, PNG, GIF, and MP4, for your content. After that, the platform will allow you to mint your artwork.
This is how you create an NFT. Now, to sell it, you can continue to follow the steps below.
Add a Title & Description
Upon the creation of your NFT, you have to provide it with a title and description. The description can either make or break a possible sale. So, it needs to be as detailed as possible.
In your description, you should mention and explain the title of your NFT. On top of that, to grab the attention of buyers, be more expressive while describing the theme of your art.
Set Pricing & Sales Format
Next, you need to set a price for it. Although you can set it to any currency, we suggest you go for Ethereum or Binance Coin.
In addition, you’ll also need to decide whether to sell your NFT at auction or a fixed price. If you want to sell it at auction, set the minimum selling price for it. But, if you wish to earn the maximum from your NFT, you can sell it at a fixed price.
Pay the Listing Fee to Sell
Then, you will be required to pay a listing fee, even to sell your own NFT. The listing fees are usually hefty. That’s because you will sell your NFTs at a pretty high price. Further, if you don’t have enough money in your wallet, you’ll be induced to add more funds.
Keep in mind that you’ll still have to pay fees beyond the listing fee. That is, when your NFT sells, you will be charged a commission fee on the sale as well as a processing fee.
Sell Your NFT Artwork
As soon as you pay the fee, your uploaded NFT can be viewed on the blockchain with Bsc Scan. Finally, it will be available and ready to transfer and trade as you desire!
In addition, NFTs hold a feature that can be enabled so that you will be paid a percentage each time your NFT is sold or changes hands. If your digital work gets super popular and expands in value, you will get some percentage of that benefit, too.
NFTs are empowering different industries with innovative abilities. Specifically, in E-Commerce, they are expanding dramatically.
NFTs in the E-Commerce Industry
In E-Commerce, NFT offers several benefits to online businesses. Due to which, many E-Commerce companies are working on developing NFT integration solutions. Some are already using NFTs to make an appealing digital representation of their products.
Let’s take an example of the leading E-Commerce platform, Shopify. It lets its merchants sell NFT content directly from their online stores. Besides, Fred Segal, America’s top clothing brand uses NFTs to create a physical display of their products. As a result, some of their NFTs have been sold out for thousands of dollars.
Creating and selling a Non-Fungible Token (NFT) requires both artistic and technical skills. Not only this, you must be able to understand basic finance issues as well.
If you intend to mint your own NFT and sell it, the procedure is a bit risky, yet worth it! Perhaps you will someday join the million-dollar club of NFT as well, if and only if you play your cards right!