By now, you must have gotten a bit of know-how about
But here, let’s glance at how NFTs are transforming the art world with immense scope of creating popularity and financial boon for the NFT artists.
To my surprise, I have recently seen how DCN Global has been helping the crisis in Ukraine by turning the
Though this has been a piece of fantastic news, I have also seen some groundbreaking NFT sales in 2021, like:
- “Everyday's - The First 5000 Days” and “Crossroads” - were sold by the artist Beeple at $69.3 Million and $6.6 Million, respectively.
- “CryptoPunk#3100” and “CryptoPunk#7804” - sold at $7.58 Million and $7.57 Million.
With such a fair and short history of NFTs, who wouldn’t love to explore their fortune through NFT art?
If you are a digital artist, NFTs will attract you as a new approach to selling your art globally. You can decide who to sell the artwork to and at what price and get the royalty share.
So just be ready to dive into the step-by-step guide to creating and selling your NFT artwork.
How to Create & Sell an NFT Art: Step by Step Approach
After reading this step-by-step guide, you will get a clear and concise picture of how the NFTs collaborate with
1. Choose a Platform to Sell Your NFT
Initially, you'll have to build, or 'mint,' your NFT.
But what is Minting?
In the case of NFTs, minting is moving a digital asset and transforming it into a blockchain-based digital asset. Without minting, the NFT owner will be unable to make it available to the buyers in the marketplace. So, once the NFT is set for sale, anyone on the NFT marketplace can access this asset and purchase it.
But before converting your artwork into NFT, you should choose an NFT marketplace and a payment wallet. The latter helps pay the marketplace service fee and receive the payment if your NFT is sold.
You can make money selling an NFT on various digital platforms or marketplaces. OpenSea, SuperRare, Raible, Foundation, Nifty Gateway, VIV3, Axie Marketplace, Myth Market, and NFT ShowRoom are some of the most popular NFT digital platforms.
You can choose and set up any NFT marketplace depending on your interests. However, you are strongly advised to read all NFT exchanges' policies concerning the market you prefer and choose the one that best matches your requirements. To name a few:
- Some NFT minting platforms, such OpenSea, cover all NFTs.
- Myth Market is a non-financial trading platform that focuses solely on trading cards.
- super rare is picky, accepting only authors after thoroughly reviewing their artist biographies.
2. Choose and Setup a Crypto Wallet Account
Crypto wallets provide a secure place where you can maintain your cryptocurrencies. Though there are various cryptocurrencies wallets emerging and being available out there in the market, they fall under the category of the following types:
- Hosted Wallets
Hosted wallets are the most popular and easiest way to store cryptocurrency. It is named "hosted" because you hold your cryptocurrency with a third party, just as you hold your cash with a bank.
In the real-time scenario, there have been instances that people "lost their USB wallet" or "dropped their keys," but this won't happen with a hosted wallet.
- Self-Custody/Non-Custodial Wallets
With a self-custody wallet, you have complete control over your cryptocurrency. In non-custodial wallets, your cryptocurrency is not held by a third party. It is solely your responsibility to remember and protect your password, even if they provide the software required to store your crypto.
You cannot access your crypto if you forget or lose your password (also known as a "private key" or "seed phrase"). However, when someone finds out your private key, they can access all of your assets.
- Hardware Wallets
Hardware wallets store your crypto's private keys offline on a physical device like a thumb drive.
Even if your system is hacked, they will keep your crypto safe even though they are complex to use and expensive to maintain.
However, compared to a software wallet, their increased security makes them hard to use, and they can cost up to $100 to purchase.
However, you should choose the wallet compatible with the blockchain you are using.
For instance, MetaMask's wallet (a leading non-custodial wallet) is supported by some of the most popular Ethereum-based applications, such as OpenSea and Raible. Moreover, it is available as an Android / iOS application or a Chrome / Firefox extension.
3. Buy and Add Cryptocurrency to Fund Your Wallet
The next step is to buy some cryptocurrency for minting. As discussed before, the NFT marketplace charges you for providing the platform for sales.
Most NFT services collect fees in Ether [ETH] (the native token of Ethereum's blockchain platform) since NFT was first released in Ethereum. Hence, it is wise to buy Ethereum to fund your wallet for minting.
After buying the cryptocurrency, the next step is to add it to the wallet you set up. Finally, you can add the funds to the chosen Wallet. Here’s the
4. Connect Your Wallet to the NFT Platform
After you have completed buying and adding the cryptocurrency to the wallet, the next step will be to link your wallet to the NFT platform you will be using.
OpenSea makes the connection easy by prompting you when you click the Create button. Once you choose a wallet, you will be prompted to complete the connection process.
However, if you are using Metamask or Coinbase's extension, you will receive a pop-up prompt asking you to link your wallet directly. To connect to the Coinbase marketplace, you can scan QR codes in the Coinbase Wallet app. These features make Metamask and Coinbase one of the most famous wallets on OpenSea.
5. Create & Upload a Piece of Art
It's time to upload your artwork to the platform now that you have linked your NFT platform and digital wallet. When you upload your artwork to the NFT marketplace, it becomes NFT art.
A 'Create' button on the platforms allows you to create a single piece of art, your one-of-a-kind masterpiece, and you can also sell the same thing several times.
Most NFT platforms allow GIF, MP3, MP4, PNG, and WEBP files with a size limit for converting your art to NFT art files. In addition, the platform will provide you with a preview of your NFT post after you submit your digital content.
6. Set Up an Auction For Your NFT
It's now time to decide on pricing for your NFT artwork. In this regard, the NFT platforms provide three options.
- By choosing the 'Fixed price' option, you can easily sell your painting quickly at a single fixed price.
- If you choose the 'Unlimited Auction' option, anybody can bid on the art until you are satisfied. After determining that the price is acceptable, you can sell it to the highest bidder.
- The third choice is 'Timed Sale,' which allows you to specify the auction's start and end times.
It may not be profitable if you set your NFT art pricing too low or bare minimum. You can give your NFT artwork a week to be bid on.
7. Provide the Description for Your Art
Make sure to describe your NFT artwork. First, explain what it's all about to increase their sales possibilities and make it intriguing and valuable. Then, take your time to write a description that will entice people to buy the artwork.
Suppose you want to sell a bitcoin logo. On the description page, you'll also need to choose the royalties percentage you would like to charge for acquiring your art. On any subsequent painting sales, you will get the royalty rate.
If it is higher, you will make more money on each sale. However, a higher royalty may also discourage people from buying NFT art. So, it is best to keep things in balance.
8. Promote Your NFT Art
Now that you've finished all the steps to sell your artwork on the NFT marketplace, The final but crucial step would be promoting your artwork. You should make a concerted effort to promote the art on various social media platforms.
Many marketplaces, such as OpenSea, demand that you advertise your art on social media, and you should show the artwork to the public regularly.
Announce that you'll be joining the NFT universe soon after completing your first art collection. Build your network and sales record on NFT markets as well.
Don't expect to be successful right away once you've figured out how to sell your NFT art. Also, don't expect to sell your art for stratospheric sums.
It's encouraging that some NFT work has been sold at historical prices. However, as mentioned at the beginning of the article, not every NFT art will sell for a high price; if you advertise your art carefully, you can sell it for a much greater cost.
Wrapping Up
NFT art is gaining popularity since it sells at attractive pricing without intermediaries like art dealers. With diligent steps, you can rapidly join a reputable NFT marketplace to turn your art into NFT and sell it at a profit.
The most popular NFTs are either those by well-known artists like Beeple and Damien Hirst or those with 'utility.' The latter will be of interest to many new NFT artists.
This means you'll need to develop a collection that you can use for more than just digital assets; for example, you can use it to participate in real-life events, host a community chat room, or even raise money for charity. For example, the