How To Sell NFT Artwork
The ongoing buzz about non-fungible tokens (NFTs) has left many people wondering how to make money with NFTs. Without a doubt, NFTs have become the hottest topic on the internet, with some reports indicating that the NFT industry hit $10.7 billion in sales during the 3rd quarter of 2021. Other reports indicate that over $126 million worth of NFTs are being sold every day.
Furthermore, all indicators suggest that the NFT obsession isn’t slackening anytime soon. But how do you sell NFT artwork? This article answers this and other related queries.
Understanding NFTs
NFTs are cryptographic assets stored on the blockchain with distinctive identification codes and metadata that help you to know their ownership and distinguish them from each other. Although NFTs are created the same way as cryptocurrencies, they work differently because they are irreplaceable and non-interchangeable. While you can exchange cryptocurrency coins for dollars, you can’t exchange an NFT for another.
Another important fact to note about NFTs is that they comprise a wide range of digital collectibles, including videos, images, artwork, GIFs, tweets, domain names, among others. NFTs make the selling, buying, and trading of digital assets more effective while reducing the chances of fraud. They also represent your digital identity and property rights. The unique construction of NFTs makes them the best means to represent your physical assets like artwork digitally.
They also remove intermediaries and connect you to potential collectors. You don’t have to go through the agonizing process of dealing with art galleries and auction houses. The main benefit of dealing with collectors directly is that you get to set the prices and make quick sales. This means that every artist and digital content creator has a chance of making money from their work. Even if you don’t have any valuable artwork at the moment, you can easily create NFTs using a reliable NFT generator like the VQGAN text to art generator. This program helps you to create valuable NFTs from simple text prompts. Before you start using this tool, you need to know how to seed for VQGAN+CLIP. This is an important process because it helps to regenerate previous prompts.
How to Sell Your NFT Artwork
Before you can sell your NFT artwork, there are several important things you have to set up. For instance, you need to choose the best NFT marketplace and create an account. While most NFT marketplaces are free to join, some have very strict signup rules and processes. For instance, some platforms only accept new artists who have been invited by existing artists. Others charge a registration fee as well as “gas” money, which is the fee charged by NFT trading platforms when you are conducting a transaction or executing a contract.
Once you’ve created an account, you need to create a digital wallet. Make sure your wallet supports cryptocurrencies and NFT trading. Then, buy some cryptocurrency coins and put them in your digital wallet. Since most NFTs are stored on the Ethereum blockchain, you should load your wallet with some Ether coins. Once you have the trading account and digital wallet set up, you can proceed to create your NFTs on your preferred marketplace and list them for sale. Most of these platforms have user-friendly interfaces that will guide you throughout the listing process.