Are you an artist and would like to generate maximum value from your works? Well, non-fungible tokens are proving to be the real deal in affirming ownership and allowing many artists worldwide to fetch significant value upon selling their unique pieces of art. More than $400 million worth of NFTs has already exchanged hands even though the upcoming norm is still in the early stages of adoption and growth.
The market for pieces of art embedded as NFTs is growing with the digital revolution. It thus does not come as a surprise that most artists and designers are embracing this new avenue of creative business. In addition, customers are also becoming fond of NFTs as they make it easy to acquire legitimate and genuine pieces of art.
Traditional auction houses such as Christie’s have already started embracing NFT art auctions allowing artists to generate millions of dollars as customers end up with genuine art pieces.
How to make NFT art
The first step to selling an NFT art is minting or tokenizing. Currently, several platforms allow people to digitize their pieces of art into NFT for distribution in NFT marketplaces. Contrary to perception, you don’t need extensive crypto knowledge to create an NFT.
OpenSea is one of the best platforms to tokenize pieces of art into NFTs for distribution. Upon signing up, you will access the “Create” portal at the top right-hand corner. Upon clicking, you will be taken to the creation page, where you can add whichever art you wish to tokenize.
OpenSea allows you to add any image, video, audio, or 3D model to create an NFT.
Upon uploading the item, you can add properties and information about the item. It is this information that will help make your work rarer and potentially more valuable. Once everything is set up, OpenSea will generate the NFT using either Ethereum or Polygon blockchains.
Set up a wallet
A crypto wallet is a must for anyone looking to buy and sell NFT art since they are a blockchain asset. Therefore, it is important to set up a payment wallet to be used to pay some fees once an NFT art is minted from the platform. In addition, it is in the payment wallet that you will receive payments once you sell the NFT in a marketplace. You can always sign up for an Ethereum wallet in Coinbase or even Binance.
Purchase some Ethereum
Most platforms that mint NFTs require people to pay for their NFT artworks in Ethereum. Consequently, you will need to purchase some small amount of Ether to be used to pay transaction fees.
Connect wallet to NFT marketplace
With a sufficient amount of Ethereum in the digital wallet, it’s time to select a marketplace where you will sell the minted NFT art. Some of the top marketplaces that people use to sell NFT include Rarible and OpenSea.
The two sites are the best as they offer the most straightforward setup process for connecting with customers and selling any digitized art. Once you settle on a marketplace, you will have to connect your wallet to receive payments once customers agree to purchase the NFT artwork.
Selling NFT art
NFT art, being blockchain assets, is sold on specialized marketplaces. Therefore, once a crypto wallet is connected to a market such as Rarible or OpenSea, one can move forth and initiate the listing process for the public to see and potentially place bids.
In OpenSea, you simply have to sign in after connecting your wallet. Once inside the marketplace, go straight to the “Create Portal” from the top right-hand corner and click to submit the NFT art you would like to offer to the public.
Once you click “Create” under “Create New Collection,” you will be prompted to provide a name describing the NFT art in about 1,000 characters and logo. Upon clicking save, you can wait for a message to confirm the collection has been created.
You can always click the “Edit” page to customize settings such as header image, links to social media, and payment currencies and royalties. Once you click the “Submit” button, you will be taken back to the “Collections” page. The NFT art will now be available for the public to see pending approval.
Once the NFT art is approved, it will have the “Approved Collection” tag, allowing people to place bids on it. Once approved, you can use social media for marketing it to attract more offers. OpenSea allows people to include all the social networks they use to manage and share NFT collections with the public.
Rarible
Rarible is another platform that one can use to buy and sell any kind of NFT art. It comes with a user-friendly interface. While everything on the marketplace is to be priced in Ethereum, items can be made available as Buy Now or via an auction.
It is important for artists looking to get the most out of their NFT art to get the “NFT verified badge” on the marketplace. The approval process is straightforward as it only requires one to submit proof that their work is original. Artists must also share social media channels with a strong following.
Rarible stands out as one of the best marketplaces for selling NFTs as top artists make upwards of $100,000 weekly. The prospect of earning up to 10% royalty if a buyer resells an NFT art they bought is also enticing.
Final thoughts
While the process of minting an NFT art and making it available for the public to buy might not be straightforward, it is worth the hustle. NFT marketplaces offer artists the best routes to generate optimum returns from their original work while reaching out to an entirely new audience. The NFT marketplaces are still in the early stages of growth, but as more people embrace blockchain technology, it is poised to grow bigger.
