Non-fungible tokens (NFTs) are extremely popular at the moment, and people are paying exponential amounts for the pleasure of owning one. In 2021, an NFT created by Beeple was sold for a staggering $69 million. If you’re a digital artist or want to see if you can earn some money for your art, you can leverage NFTs as a space to sell your work. The process is straightforward, and you can continue reading to find out how.
Pick Your Media
Any media you have the intellectual rights to can be turned into an NFT, including drawings, music, and memes. Given the competition out there right now, you should make sure that your media is unique and collectible; the rarity of the media is what makes NFTs so popular.
Choose a Blockchain
You will need to choose a blockchain to sell your digital media. Currently, the most popular blockchain for NFTs is Ethereum (ETH). This platform has also been used to make decentralized apps and games. Other popular blockchains include Cosmos, Polkadot, and Tezos.
Make sure you open a digital wallet before your NFT is created. Your wallet will need to be kept secure because all your blockchain assets will be stored there, including your NFTs. There is a steep learning curve for digital wallets.
Choose an NFT Marketplace
When you’ve picked your media, opened your digital wallet, and chosen your blockchain, you will need to decide which marketplace to sell your NFT on – popular choices include Axie, Lava Labs, and Mintable. All you need to do is open an account, connect your digital wallet, and upload your file. This process is called minting, and each marketplace’s guidelines may differ slightly. Typically, your NFT will need to be uploaded in PNG, MP3, or GIF before you can upload it.
The Actual Sale
Once you’ve uploaded your NFT, you need to make sure that you stand a chance of making money on your digital art. To do this, you can set a fixed price for your artwork, start an unlimited auction, or a timed auction similar to eBay. If you choose to go down the auction route, you need to have a minimum price in mind. When you select a price, you should take into account any minting fees you may incur from the marketplace.
Making More on Your NFT
With your media minted and ready to be sold, you will need to dabble in marketing. One way to do this is to spread the word through Reddit, Quora, and other social media platforms. Typically, Reddit is where NFT, blockchain, and cryptocurrency news hits first. You should read this NFT marketing guide to ensure you’re successful in your campaign.
NFTs are hugely popular right now, with people paying millions to own them. Sales this high have led people to try and sell their own NFTs. We have outlined the process above but be sure to carry out s