How to sell/buy an NFT: Step-by-step guide.
Table of contents.
1. Binance NFT
1. OpenSea
2. Rarible.
How to sell NFT art in 5 simple steps.
1. Create a Web3 wallet
2. Feed your wallet with ETH
3. Prepare your work of art
4. Submit your work to an NFT marketplace
5. Promote your content
Conclusion.
Are you a digital artist and want to learn how to sell NFT art? Many artists and collectors earn interesting sums. So how do you grab a piece of the cake as an artist or simply as an investigator?
Start by reading our guide to understand what an NFT is and how it works. Once you have acquired this knowledge and you have some very interesting works of art that you want to sell as an NFT, or you want to invest in the purchase and sale of NFTs, the next step is to determine where you can make your transactions.
Where to sell and buy an NFT?
1. Binance NFT.
One of the most well-known platforms in the world of cryptocurrencies, Binance recently launched its marketplace dedicated to NFTs. A marketplace that showcases all forms of digital works and collectibles.
Binance NFT offers artists but also enthusiasts and fans of crypto and blockchain a unique platform to exchange, sell and buy NFTs. Binance NFT offers three product lines: "Marketplace", "Events" and "Mystery Boxes".
1. OpenSea.
OpenSea is currently the largest NFT marketplace in the industry. There are works of art, virtual world equipment, trading cards, domain names, collectibles, sports and utility tokens.
The platform indexes works of art from other NFT marketplaces and thus has a large collection of works of art, more than a million in writing. The price of all items is expressed in ETH, with some available for a specific price and others through an auction.
Although any artist can apply to list their digital art on OpenSea, the submission usually has to go through a verification process by the team before being approved for a full public exchange on the platform. Artists can also set royalty settings for their works.
2. Rarible.
Rarible is another great platform to coin and sell NFT art. On Rarible, the price of each object is expressed in ETH and is available either as an immediate purchase or through an auction.
However, to get the most out of Rarible as an artist, you need to apply and get a badge verified by the team. The approval process usually takes less than a week and requires you to submit proof that your artwork is original.
In addition, artists must share links to their social media channels. A strong audience and an active community are part of the criteria for obtaining a verified badge. Artists whose badges are not verified may find it difficult to attract buyers.
The best sellers of Rarible bring in up to GBP 100,000 per week and receive a 10% royalty if a buyer resells their work at a higher price. Rarible offers an OpenSea integration, which allows artists to use OpenSea to view and manage the assets they create on Rarible.
Now that you know where to sell NFT art, the next step is to spread your works.
How to sell NFT art in 5 simple steps.
1. Create a Web3 wallet.
Since non-fungible tokens (NFTs) are blockchain-based assets, you need a wallet to create, send and receive them. You also need to fund the wallet in order to be able to pay the transaction fees associated with your operations.
Since most NFT platforms are built on Ethereum, you need an Ethereum wallet powered by their native currency, ETH, in order to be able to pay the transaction fees.
Most experts recommend using the Metamask extension on Chrome or any other browser you use. The extension allows you to connect to an NFT marketplace and use related services directly from your computer's browser.
You can read this Metamask user guide .
When you install and run Metamask for the first time, you receive a 12-word recovery phrase. Save it in a secure offline location and proceed to copy your ETH address.
2. Feed your wallet with ETH.
Then you need to buy ETH from a broker or cryptocurrency platform like Changelly and send it to the address of your Metamask ETH wallet.
Most platforms allow you to make the purchase using your credit/debit card or your bank. In any case, make the purchase and send at least 150 € of ETH to your Metamask address.
Open an account Changelly
3. Prepare your work of art.
You have probably already prepared your work of art. If not, you can prepare a unique sample.
Browse the previously mentioned marketplaces for inspiration on what makes the art of the best-selling NFTs. Your NFT can be a video, an audio file, an image or a 3D model with a maximum size of 100 MB.
4. Submit your work to an NFT marketplace
Visit your favorite NFT sales platform and connect your Ethereum wallet. This scheme is perfectly compatible with OpenSea, as it is the most widely used option at the time of writing this article, but you will not have much difference in method on other platforms such as Binance NFT, which we believe will be the number 1 platform of NFT exchanges in the near future.
5. Promote your content.
Social proof is one of the criteria that OpenSea and other marketplaces use to approve content creators. OpenSea specifically requires that you include the number of social media channels that you actively manage and that you share your NFT collection to the public at least once.
Therefore, make sure to let your audience know that you are getting into NFTs and spread the word from your first collection. Experts also recommend publishing free editions of NFT in order to increase your number of fans and revenue.
Conclusion.
The path to selling your first NFT is not an easy one. However, it can be worth it, especially if your goal is to reach a whole new audience with your wonderful creations.
The more digital artists learn to take advantage of the possibilities offered by NFTs, the more the market will expand. Being a pioneer puts you in an ideal position to educate others and probably to establish yourself in an industry that many believe is far from having reached its potential.
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