You may have heard the term NFT a lot recently. Still, struggling to understand? Here is our complete guide on NFT What is NFT? Ultimate Professional Guide 2022. It is more than a chilling monkey relaxing and smoking. NFT is a statement, it is an art. It can be anything that exists in virtuality. In this article, you will learn how to make NFT.
We will see in this article how you can ride the bandwagon. And create your first NFT and sell it to a marketplace.
Table of Content
Introduction:
Due to the sudden boom more and more artists are thinking about selling their art as NFT too. Are you an artist. ? Are you looking to sell your art? Then the answer to your questions will be covered below. Keep on reading.
Why create NFT
If you know the answer you can skip this part and jump straight to how to create an NFT and sell it.
The basic meaning of Non-Fungible Tokens is that this art cannot have a copy. It is a single unique piece that will remain unique. NFT is also going to be a future component of Web 3.0. You can read our article on Web 3.0:The Ultimate Future of Web? to understand how it is the future of the web Following are the reasons why you should create it:
- Nobody can steal your art and publish it as his own.
- You will be the only owner of your asset.
- You will not have to share a heavy amount of profits with the big tech companies where your content is hosted.
- the NFT is selling for a very high price.
How to make NFT and sell it
Uploading an NFT is also known as “minting”. you will be thinking that making my first NFT will be quite hard. No, it’s not that hard. let’s start the guide on how you can create it mint it, and put it for sale:
Choose a marketplace
Before learning how to make NFT, the first step is to choose the marketplace. Selecting a suitable marketplace where you are going to hold your NFT is a crucial factor. Open sea, Axie Marketplace, and Rarible are the best platforms for uploading your NFT. However, you can find other online marketplaces too.
Create an online wallet
You want to receive money for your art, right? After learning how to make nft, you have to create an online wallet. Meta mask is the online wallet for buying and selling NFT. However, these marketplaces are starting to accept money from different types of E-wallets. Still, a meta mask is the best option.
Buy a cryptocurrency
The next step is to buy cryptocurrency. Minting an NFT on a marketplace will require payment too. However, marketplaces are starting to accept different kinds of cryptocurrencies, still, Ether is widely accepted by all the marketplaces.
Add the cryptocurrency to your wallet
Buy the cryptocurrency Ether ETH and fund your wallet with it. 1 ETH is equal to 4700$ at the present moment.
Connect your wallet to the marketplace
Your wallet is ready. It has some cryptocurrency in it. You have selected the marketplace. So, it’s time to connect your wallet to that marketplace.
Upload your NFT
Select the piece of art that you want to upload as NFT on the marketplace. Then upload this art. This uploading process is very easy. It is just like uploading a picture for social media.
Add a description
The next step after uploading the file is to add its description and title. Take time to write a good introduction, title, and description as these are the selling points of your NFT. It will also guide the buyers about your art, why your art is unique, and why they should buy it.
Setup an Auction
This is a very important step. It will maximize the profit substantially. Basically, there are 3 options that you can take to sell your Non-Fungible Tokens art.
- The first is the fixed price. In it, you select a fixed price for your art. A buyer will pay that price and the art will be his.
- The second option is an auction. This is the option to improve and maximize your profit. In it people will bid for your art, once you find a good bid, you can sell your art to that bidder.
- The last option is also an auction but it is a timed auction. In this, you select an amount of time for the bidding. No more bids can be placed once the time is over.
List your NFT
The last step in this selling process is to list your NFT. You will have to pay an amount of money so that the marketplace will list your NFT for selling. Once this is done you are on your way to selling.
Is selling NFT profitable?
Now you know how to make nft, let’s see if selling nft is profitable or not. NFTs have become all the rage and their popularity has grown exponentially. Recently it was sold for 61 million. Therefore selling NFTs can be really profitable. But it depends on a few factors.
Firstly, minting an NFT is a relatively expensive task. Also, you have to pay a huge amount to the marketplace. So you have to keep a few things in mind.
- The first step is to create valuable art. If the art is valuable people will be willing to pay a lot for that.
- Secondly, choose a high enough price for your art, keeping all things mentioned above in mind.
These two things will make sure that you can earn a good profit from your sale.
So here we go, in this article, we have discussed how you can successfully create and sell your first NFT. It is not a difficult task. With some little knowledge about cryptocurrencies and online E-wallets, you are good to go. Follow this guide and you will sell your first NFT very soon.
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