Non-fungible tokens, or NFTs, are digital assets that reflect real-world goods such as art, music, or even films. They’ve become fashionable as digital artwork. Even though they are digital files, no one can destroy or copy them, and once you acquire an NFT, you are the exclusive owner of that file.
People have recently begun to collect NFTs in the same way that they collect ordinary artwork and market them for profit. Artists may be able to get royalties each time their work is resold, depending on the file.
This is great news for digital artists, especially given some of the outrageous sums that NFTs have sold for. So, how exactly do you go about creating and selling your own NFT art?
Here’s all you need to know about generating NFT art and getting money from it.
- Choose or create the artwork that will be your NFT
As an artist, your first step is to either create or locate the piece of art that will act as your NFT. The good news is that you don’t have to create an entirely new work of art. You can go to the following step in selling your NFT if you have previous digital artwork you’d want to share with the public.
Remember that there are few restrictions on what you may sell as an NFT. You can sell your unique work as long as it is yours.
Of course, if you’d prefer to produce fresh artwork than sell an older one, that’s also an option. You don’t need to do anything extra while creating your work because you can convert almost any digital file into an NFT.
- Get Your Wallet a Small Amount of ETH
The next step is to buy a modest quantity of Ethereum to deposit in your digital wallet after you’ve set it up. While this may seem strange given that you are not the one purchasing NFTs, there is a valid rationale for it. Most markets charge a fee for selling your NFTs on their platforms, so you’ll need at least a small amount of ETH to sell.
The good news is that you won’t likely need to use a third-party exchange to receive your ETH. There is no need to make a second transfer because most wallets, especially MetaMask and Rainbow, enable you to buy ETH immediately.
Of course, if the wallet you’ve chosen doesn’t enable you to buy Ethereum directly, you can always buy it through a site you’re already acquainted with, such as Venmo or Paypal.
- Integrate Your Wallet to the Online Store
When you join up for the marketplace, you will most likely be allowed to link your wallet. This is an important step to do if you want to start uploading and minting NFTs right immediately.
Even if you’ve never done anything like this before, most prominent sites provide a simple process that will lead you through connecting your wallet. Once you’ve done that, you’ll be ready to begin uploading your digital files.
- Your Digital File Should Be Uploaded and Minted
When you’re ready to start uploading, go to the marketplace and click the “Create” button to upload your digital file. This should simply take a few clicks if you’re utilising a file type that the marketplace supports.
This is also where you may decide whether you want to mint NFTs as one-of-a-kind items or if you want them to be part of a larger collection. Many novices choose to create one-of-a-kind tokens, which is similar to selling an original painting or drawing in person.
If you’ve chosen a platform with gas costs, you’ll almost always have to pay them before minting can begin.
- Add a title and a description of your work
While some artists may prefer to skip this step, the title of your piece and its descriptions are frequently what entices visitors to examine your NFT more closely.
You should use a title that is interesting and relevant to your artwork, and your description should be as descriptive as possible.
You might wish to discuss the piece’s theme and any underlying implications in the description. If people enjoy the concept and execution of your painting, you’ll probably get more sales. Creating a theme for your NFT might also help it get traction.
NFTs with fascinating and original themes, such as animals in clothing and football cards, are among the most popular.
- Choose Your Price
While it varies by platform, most NFT markets enable you to sell your NFT in one of two ways: for a set price or through an auction. Your NFT won’t sell until someone is willing to pay the specified buying price, due to fixed expenses.
Artists, on the other hand, prefer auctions since there’s a potential you’ll make a lot more money on your NFT than you expected. Auctions can also be used in a few other ways. Allow sellers to submit bids, with the highest bidder being chosen as the buyer.
Alternatively, you might start with a greater price and gradually lower it as the auction progresses until someone is prepared to pay that amount. You may generally establish a minimum to keep the price from falling too much below what you’re prepared to sell.
- Announce your live NFT
You can’t always rely on individuals browsing the site to stumble upon your work once your NFT has been mined and is now available for purchase as a token. While some venues are better than others at promoting new material, it never hurts to undertake your promotion.
If you’re an artist with a large social media following, you may always inform your fans that you’ve developed a for-sale NFT. It also doesn’t hurt to post the listing on your social media channels, even if you don’t have a lot of followers. You never know who you’ll attract or what type of traffic or prospective consumers you’ll get.
It’s a prevalent fallacy that NFTs can only be navigated and created by tech-savvy artists and people. Although the technique may appear daunting if you’ve never worked with NFTs before, it’s easier than it appears. It might take less than a day to upload, depending on the platform you pick.