NFT cryptocurrency platforms are important when you wish to sell your artworks. This article has been specifically written to help you understand how to get your art into an NFT cryptocurrency platform.
While you may be confused about how to successfully get your art into an NFT crypto platform, what type of product you can sell, blockchain marketplace to use, how much to sell your artwork and a host of other questions that may confuse you.
This article will not only guide you, but it will also answer all the questions that have been bothering your mind about how to sell your artworks.
The year 2021 came presenting the world with the NFT frenzy, and that has gradually become the talk of the internet. This brings to the question, what item can be sold as NFT? Today several items including songs, art pieces, fashion wear like designer shoes and bags, memes, GIFs, collectibles etc are digitized and sold as Non-fungible tokens.
It may interest you to know that $400 million in NFTs have been exchanged since 2019 and that the market for digital assets is likely to develop even more in the future, all you have to do to get a piece of this NFT pie is to find ways you can get your art into an NFT cryptocurrency. While there’s a huge market for Non-fungible tokens, another question that bothers people’s minds is how artists make money with NFTs.
How to make money from NFTs as an artist
Non-fungible tokens (NFTs) are making great waves right now and that is a money-making avenue. However, anyone who wants to venture into the business of selling Non-fungible tokens. must be conversant with the fact that there is no one size fits all method of making money from selling NFTs.
Celebrities including musicians, Hollywood celebrities as well as top companies in the world own Non-fungible tokens and are making lots of money from selling them. Snoop Dogg, Eminem, Lindsay Lohan, Shawn Mendes, Emily Ratajkowski, Justin Bieber, Paris Hilton are some of the Hollywood celebrities who own NFTs.
Let’s look at some of the ways an artist can make money from selling NFT amid the current NFT gold rush.
There are several ways to make money selling NFTs but we have broken them down into three.
- Digital artworks
- Licensed collectibles
Digital Artworks
Digital artworks may include paintings, music, videos, animations, illustrations, photographs made on digital media or converted to digital media.
Simply put, digital art is an art that is created or displayed using digital technology. This may contain images created entirely on a computer as well as hand-drawn images scanned into a computer and finalized with Adobe Illustrator.
Animation and 3D virtual sculpting representations, as well as projects combining many technologies, are examples of digital art. Manipulation of video images is used in certain digital art.
Talented artists who wish to have their artworks seen by the world can make money selling their digitized artworks.
The history of blockchain technology and the history of art altered forever on March 11, 2022. An NFT work of art was sold for $69 million at Christie’s, one of the world’s most prestigious auction houses. Christie’s auctioned a wholly digital artwork for the first time.
The single most important and most expensive NFT sale in 2021 was Beeple’s Everydays ($69.3 million): The First 5000 Days. This was not only the most expensive NFT sale ever, but it was one NFT that had a snowball effect in the mainstream media, spreading the word “NFT” to individuals all over the world.
While some are concerned that selling what amounts to a connection to a painting for millions of dollars may be a front for money laundering, others feel that NFTs represent a real revolution in the art industry.
Licensed collectibles
What are Licensed collectibles? This is another tricky question on the lips of newbies in the NFT market.
Licensing is inextricably linked to branding since it also relates to product acquisition in today’s economy. A license, depending on the conditions and media, grants the possessor permission/authority to distribute things and merchandise based on the intellectual property of a content producer.
One of the most apparent uses of the Non-Fungible Token concept appears to be tokenizing valuables. Brands that formerly sold tangible collectibles such as trading cards can now offer them digitally. Due to the demonstrable rarity of NFTs, the price of a digital trading card might be significantly more than the real version.
Now, let’s move on to how to make an NFT. This is important as this sets the pace for your journey into getting your art into an NFT crypto platform.
How To Make an NFT
Here’s a quick breakdown of how to make and sell an NFT.
When setting foot into the business of building and marketing NFTs, it is imperative to have clear business goals in mind. It is wise for users to first choose a blockchain platform and research its criteria, such as permitted crypto wallets, before selling an NFT product.
- Select the item you want to create as an NFT
- Select a blockchain and choose a cryptocurrency
- Create a digital wallet and fund it
- Mint your NFT
#STEP 1: Select the item you want to create as an NFT
This is the first step to creating an NFT after you must have set your goals. This step requires that you pick from the myriads of items you can create as NFTs and these could be paintings, art, music, trade cards, fashion products like sneakers and bags, memes and a host of other products. Take note that your preferred item should highlight your unique attributes as an artist.
#STEP 2: Select a blockchain and choose a cryptocurrency
The second step is selecting your preferred blockchain platform and of course a cryptocurrency. While they’re several options, Ethereum is the most popular cryptocurrency in the NFT space, others include the Binance Smart Chain, Cosmas, Polkadot, Tezos, etc.
#STEP 3: Create a digital wallet and fund it
This step is important because you need a digital wallet to store your crypto. If you don’t already have a wallet, you’ll need one to fund your initial investment.
To get started, you’ll need to get some cryptocurrencies. The Ethereum blockchain’s token, Ether, is accepted by the majority of NFT platforms, hence, it’s best to use ETHER.
NFTs are known to be held by Binance, Litecoin, EOS, Tron, Cosmos, Tezos, and Polkadot.
#STEP 4: Mint your NFT
To ‘mint’ an NFT, which simply means the process of converting your artwork into a non-fungible token that can be sold, you have to make a payment in advance as most NFT platforms require that you do that.
Take note that payments must be made in cryptocurrency in most cases, which means that before you can sell an NFT of your work and earn any cryptocurrency, you’ll need to buy some to cover the fees.
Since it’s the native cryptocurrency of the open-source blockchain platform Ethereum, which is where NFTs first debuted, Ether (ETH) is the most widely accepted currency. Some platforms, on the other hand, are beginning to accept a variety of payment formats and to create NFTs using various blockchains.
You can mint your NFTs on either Treasureland or BakerySwap. Interestingly, both of these Binance Smart Chain projects feature easy-to-navigate interfaces as well as low NFT minting fees.
The largest NFT marketplace is BakerySwap, and it is a good choice for individuals looking to sell their NFT after minting. Treasureland on the other hand offers free NFT minting. However, bear in mind that if you’re considering using Ethereum, OpeaSea or Rarible are two of the most popular choices.
How to get your art into an NFT cryptocurrency platform
Here’s a quick breakdown of how to get your art into an NFT cryptocurrency platform.
- Choose your preferred NFT marketplace
- Upload your art
- Set up the sales process
#STEP 1: Choose your preferred NFT marketplace
An NFT marketplace is the next point of call after creating a digital wallet. Some of the popular ones on the internet include OpenSea, Axie Marketplace, Larva Labs/CryptoPunks, NBA Top Shot Marketplace, Rarible and SuperRare.
While creating an NFT, it is important to study the best blockchain platform to sell it on. Consider the creator fees you’ll have to pay to the blockchain for every sale. Another vital thing to bear in mind is whether the platform specializes in particular digital assets.
Most importantly, search through each NFT marketplace to discover a good fit for your NFT, don’t just jump on any platform you find online. For instance, Axie Marketplace sells Axie Infinity, a popular NFT game. NBA Top Shot is a basketball-only market. Also, some marketplaces demand their own currencies. For example, Rarible requires (CRYPTO:RARI).
As a newbie, we would advise you to start with OpenSea as it allows you to mint your own NFT and sells the most NFT. In August 2021, the NFT market sold $3.4 billion worth of NFTs. Others include Rarible and superRare.
Platforms where you can sell your NFTs, include:
- Opensea
- Rarible
OpenSea
OpenSea is currently the largest NFT marketplace in the business. The website sells art, virtual world materials, trading cards, domain domains, collectibles, sports, and utility tokens.
The platform indexes artwork from other NFT markets, providing it access to more than a million art postings. All things are priced in ETH, with some set prices and some available for bidding.
While any artist may request to list their digital art on OpenSea, the team must first approve the submission before it can be exchanged publicly. Artists are free to set their own royalty rates.
Note: You must link your NFT marketplace to your digital wallet. This will allow you to mint your NFT and keep any sales revenues.
Rarible
Rarible is a fantastic platform for selling NFT artworks. All of Rarible’s goods are priced in ETH and may be purchased or auctioned off.
To get the most out of Rarible as an artist, you must apply and be validated. The clearance procedure normally takes less than a week and needs confirmation of originality.
Artists must also provide links to their social media pages, with a verified badge necessitating a large following and an active community. Artists who have not yet been confirmed may have difficulty marketing their work.
SuperRare
SuperRare NFT marketplace collects and trades rare digital artworks. It started in 2018 and has already sold over $90 million in music to musicians all around the world.
On SuperRare, each piece of art is created by a network artist and tokenized as a crypto-collectible digital item. According to their website, an NFT sold on SuperRare has a resale value of over 5,000%.
#STEP 2: Upload your art
Now it’s time to mint your NFT. Step-by-step instructions for submitting your digital file to your selected NFT marketplace would be given by the NFT marketplace. This will convert your digital file (PNG, GIF, MP3, etc.) into a marketable NFT.
STEP 3: Set up the sales process
The owner of the NFT can sell it on the market after it has been minted. The price, auction time, and cryptocurrency types can then be specified by the owner. You may lose money on your NFT sale if you set the minimum price too low.
Depending on the marketplace, the original owner may be required to pay Ethereum “gas fees” and other costs at the time of listing.
Sadly, minting and selling an NFT may be costly and complicated. To transfer funds from the buyer’s wallet to yours, you may be charged a listing fee, an NFT minting fee, a selling commission, and a transaction fee. Fees may also alter as the value of bitcoin fluctuates. As a result, you should think carefully about the costs of creating and marketing your NFT.
FAQ on how to get your art into an NFTcryptocurrency platform
Where can you sell your NFT’s?
You may produce and sell an NFT on a variety of internet venues. OpenSea, Rarible (seen above), SuperRare, Nifty Gateway, Foundation, VIV3, BakerySwap, Axie Marketplace, and NFT ShowRoom are some of the most popular NFT auction platforms.
How much money can you make selling NFT artwork?
There is no assurance that artists would be able to sell their work for the same amount; nonetheless, some have made tens of thousands of dollars or more. As a result, how much money you make from selling NFT art depends on how successfully you create a following and how much visibility you get by advertising your work on a popular marketplace.
How much does it cost to create an NFT?
The cost of creating an NFT varies according to the blockchain platform utilized. It can be as little as zero. Rarible Singles, for example, offers a free minting option, with expenses passed on to the buyer. On Ethereum, gas expenses might be as high as $100.
Final thoughts
This is the place to start if you’ve been thinking about how to get your art into an NFT cryptocurrency This article will give you all of the necessary information as everything has been written in detail, you can however do your own research for more understanding.
