Many of you may have received digital artwork in the form of NFTs as gifts at various events. The cryptocurrency market may be slowing down, but in the world of digital art and collector’s items, NFTs are still a hot topic. We’d like to share specifics on how to sell NFTs received through various events.
1. What is an NFT?
NFT stands for Non-Fungible Token, which means a token that is not exchangeable. Each NFT is unique and is registered on the blockchain to ensure its uniqueness and ownership. For example, digital artwork or limited edition music files could be issued as NFTs.
2. Select an NFT marketplace
To sell NFTs, you first need to choose an NFT marketplace. There are a number of different marketplaces, including OpenSea, Rarible, and Foundation. For example, OpenSea is an international platform for trading different types of NFTs.
3. Connect and set up your wallet
Once you’re on the marketplace of your choice, connect your digital wallet. Most marketplaces support Ethereum-based wallets like MetaMask. For example, OpenSea supports wallets such as MetaMask, Fortmatic, and WalletConnect.
4. Register your NFT and enter your details
After connecting your wallet, register the NFTs you want to sell on the marketplace. For example, if you want to sell your digital artwork “Sunset Dream,” then enter the following information accurately: title, description, tags, price, and sale type (auction or fixed price).
5. Create a sales strategy
Setting the right pricing and marketing strategy is key to selling NFTs successfully. For example, if you want to sell your “Sunset Dream” artwork for 1ETH, you’ll need to consider whether that price is appropriate for the market, who your target audience is, etc.
6. Manage sales and revenue
When your NFTs are sold, you’ll pay a portion of the sale as marketplace fees. For example, OpenSea takes 2.5% of the sale as a commission. Once the sale is complete, the revenue is automatically sent to your linked wallet.
NFTs are a revolutionary way to express and trade digital art, music, video, and more. Take advantage of this opportunity to get your work out into the world and find new ways to make money.
