NFTs or non-fungible tokens are a growing trend in cryptocurrency. Since its beginning in 2014, NFTs have gradually grown in popularity to become one of the most common types of blockchain investments. NFTs have grown in demand due to a wide range of rare and collectible digital art from famous artists such as Mike Winkelmann (Beeple) and Grimes.
Once you become familiar with this unique form of digital currency, you’ll want to learn how to mint and sell NFTs in the digital market. Most websites that buy and sell NFTs offer tutorials and step-by-step instructions on creating and selling your digital assets.
One of the first NFTs available on the market was CryptoKitty, each of which was created uniquely and stored on the token’s blockchain in a smart contract. As NFT marketplaces grew, more digital art and items included paintings, a video game skin, theatre tickets, and trademarks.
How to Mint an NFT
Minting is changing its form, as digital art, into a tradable form of cryptocurrency, such as Ethereum blockchain. As NFTs become more in demand, the interest in understanding their value for sale is desirable. Many artists earn millions from their non-fungible tokens due to their unique content, making them valuable digital assets.
When you mint your own NFT, you’re altering the readability of your digital asset for trading and selling as real-world investments.
Non-fungible tokens are a type of blockchain currency and require a compatible trading base or platform for the minting process. Three of the most common forms of blockchain technology platforms include Superrare, Rarible, and Opensea.
Why is minting popular? As digital content is created for digital assets, it becomes increasingly famous and in demand. Minting allows these unique cryptocurrencies to trade easier through NFT platforms. Each blockchain trading base offers a series of steps to mint your NFT assets for sale on the market.
How much does it cost to mint an NFT?
If you want to create an NFT, you’ll need an image, clip of music, or artwork to upload, along with a cryptocurrency wallet. You’ll want to ensure that your crypto wallet is funded and compatible with the Ethereum blockchain platform to mint your NFTs. Websites such as mintable.com and opensea.io allow you to create your own NFT.
Once your content is uploaded as a file, you can choose to create one or multiple NFTs, then select their type and price. It’s key to note any fees when minting your tokens, as these can vary depending on the platform you use for this process. The next section will detail the various costs of minting your non-fungible tokens through different blockchain platforms.
How much does it cost to mint an NFT on Opensea?
Opensea is a popular NFT marketplace that doesn’t charge any upfront fees to get started on the platform. You can sign up on opensea for free, though if you’ve never sold NFTs or cryptocurrency on the platform previously, you’ll need to pay a small activation fee to set up your account and list your NFTs on Ethereum. It’s a good starting point to check how these NFT marketplaces work.
With your funded wallet, you can trade between Opensea and your account and access your funds once a sale is finalized and you receive the proceeds.
It’s essential to become familiar with gas fees, as they are recurring charges that you must pay for specific services, such as buying an NFT, canceling a bid or accepting an offer, transferring an NFT to someone as a gift, and other transactions on Ethereum.
Gas fees are not consistent, as they fluctuate based on the network. ETH Gas Station offers a way to view your tentative transaction in real-time, so you can confirm the fee’s price before proceeding with the sale. If the price is too high, you can attempt the transaction at a later time.
If a specific NFT is popular, there may be a higher usage of users trying to purchase, which can be competitive, especially when a specific NFT is low or limited in supply. This situation may also cause gas fees to fluctuate, including losing transaction fees as a result.
How much does it cost to mint an NFT on Superrare?
One of the most popular NFT platforms is Superrare, which trades digital artwork that is rare and unique, including single-edition pieces. This marketplace sells artwork as a cryptocurrency that is bought and sold as tokens. You can think of it as an online marketplace where art collectors and creators combine with a cryptocurrency exchange.
Superrare is a common place where many NFT artists promote and sell crypto art as a collectible. Each item is tracked on the blockchain, which maintains its value similar to Bitcoin and other digital currencies. This NFT market is ideal for creating a social network to showcase unique digital art pieces, including memes, video games, and well-known video clips and music from celebrities such as Grimes.
The cost of each transaction is 3%, which the buyer covers. If a token ID is below 4,000, there are no transaction fees, and commission-only applies to secondary sales at a rate of 3%. Commission for primary sales is 15%, with the bulk of revenue, 85%, to creators.
The secondary market is where creators earn passive income at 10%, also known as royalties. These streams of income are also known as gallery fee commissions. It’s also a great social platform that brings artists, collectors, and investors together.
One of the biggest advantages of artist royalties earned through the secondary market is the ability for musicians and artists to earn passive revenue on recordings from decades ago consistently. At the same time, they continue to sell the same items (vinyl, compact disks) online and in stores simultaneously.
How much does it cost to mint an NFT on Rarible?
Rarible is generally considered a more expensive place to buy or out NFT for sale. The pricing for minting non-fungible tokens on Rarible fluctuates widely, from 350.00 to 600.00 or higher. To mint NFT art on Rarible, you must have a Metamask crypto wallet that Ethereum funds.
Like other NFT platforms, you have the option of setting your price or allowing potential buyers to bid for your non-fungible tokens in an online auction to maximize the proceeds of your sale.
Rarible’s website is easy to navigate and finds information about minting, whether you’re looking to create your first NFT or end up creating and selling multiple digital tokens.
How to Sell NFT
It’s relatively easy to sell NFT art on Rarible, Opensea, and Superrare. Before you start, you’ll need a digital or cryptocurrency wallet funded with Ethereum. Other platforms you may consider include Coinbase and Nifty Gateway.
The following section details how to set up your account to create and sell non-fungible tokens on Opensea, Superrare, and Rarible.
How to Sell NFT on Opensea
When you mint your NFT to sell on Opensea, you’ll need an active profile and uploaded image ready. If you’re not ready to create an NFT and want to preview the platform before you proceed, you’ll find a useful tutorial on Opensea, which details how to create and upload your NFT, then price and decide on the type of auction before posting your NFT.
Before you begin, you’ll need a digital wallet with an Ethereum balance to connect to pay for gas fees. It’s also important to note that some types of digital art or media that are permissible on the website may require additional steps or must be approved through a custom contract before you can trade or sell your NFTs.
To create your NFT, upload your image or digital work, and create a name or description. You can also create a collection, which is ideal if you’re planning on uploading and minting a series of non-fungible tokens, either selling them individually or as a group. It’s also key to choose a category on Opensea that will get your NFTs noticed.
Once you have one or more NFTs minted on your profile, you’ll have the option of reviewing them on your dashboard on Opensea.
Your NFT collection will get noticed with links to your social media accounts, including Twitter, Facebook, Medium, and Instagram.
How to Sell NFTs on Superrare
Superrare is an Ethereum blockchain-based platform that provides NFT creators opportunities to mint and sell their digital artwork in a secure, online environment. All transactions are based on ETH or Ethereum cryptocurrency, and you’ll need a digital wallet to get started, where you store your NFTs.
Like Opensea and Rarible, all NFTs created on your Superrare account are tokenized so that you can link and sell them through the website’s network.
To set up your new account on Superrare, you’ll need to select WalletConnect, which links your mobile wallet through a QR code or provides specific account information.
Once your crypto wallet is set up and linked to your Superrare account, you’ll need to add some ETH funds to get started. This balance is required to pay for gas fees when you process blockchain transactions.
It’s always ideal to have a little extra in your account, as gas fees fluctuate often and prices vary significantly.
Coinbase is the recommended source for funding your wallet for Superrare. Once you have a balance of Ether in your digital wallet, you’re ready to begin selling and trading NFTs. Some of the popular options for crypto wallets including Trust Wallet, MetaMask, and Rainbow Wallet.
Once a wallet is created, select the discover page on Superrare, where you can scan the QR code to set up your connection and begin creating NFTs and transactions online.
How to Sell an NFT on Rarible
The process is relatively easy, which requires connecting your account on Rarible to the Metamask wallet and selecting the “create collectible” option to mint one or more NFT products. These options are easily found on the website’s home page and require uploading a digital file like png, video clip, meme, or music file to create your single NFT.
If you have an existing wallet, you can import its value and create a new one on MetaMask. You’ll need to create a username and password to access your digital wallet. The website will prompt you to set up a secret question and answer as the second level of verification and security for your account.
Once all the information is provided to set up your new crypto wallet, click on “confirm,” Your account is ready to use.
You’ll need to fund your account with Ethereum currency by connecting your wallet to an account and transferring funds to buy or fund with ETH. The platform will conveniently convert USD (US dollars) to Ethereum, the cryptocurrency in your wallet.
A funded crypto wallet is required so that you can pay the gas fees when you connect to create and sell non-fungible tokens on Rarible or any NFT marketplace. You’ll notice the gas fees vary considerably and are based on the amount of traffic on the platform.
Frequently Asked Questions (FAQ)
Can you get royalties from NFT?
When you sell NFTs, whether you sell them directly as the original artist or resell them after acquiring them as an asset in a second marketplace, royalty payments are generated and provide a passive income through both primary and secondary marketplaces.
Once an NFT is created, the royalties generated after every sale offer the artist a percentage of this amount. On average, most royalties are between 5 and 10%, though this may vary depending on the popularity and availability of the NFT.Â
As your work gains popularity, you’ll notice more royalty income, though generally, these commissions reach 10% at their maximum level.
Can you make money with NFT?
Yes, NFTs can be profitable, especially individual non-fungible tokens and original digital artwork such as your own unique media, gif, song, or picture. At the same time, the image or artwork is freely shareable, its ownership that is purchased when NFTs are bought.Â
You own the copyright to your original piece of NFT, which you can choose to sell at a fixed price or through a timed auction.
It’s important to consider that your crypto art is subject to gas fees, which are applicable for transactions. For example, many NFT platforms charge service fees between 2.5% and 3% for items sold on their website, it’s how they make money. For this reason, you’ll need a crypto wallet linked to your NFT account, though you’ll have a great opportunity to earn some extra funds.
Note: it’s important to remember that using the auction option for your NFT means you could potentially lose money or value on your sale. A fixed price, on the other hand, may give you the advantage of a predictable sale.Â
Popular NFTs are commonly sold in auction houses, as there is no limit to what some buyers are willing to pay for specific digital items. In some cases, one digital piece may sell for millions, though this is usually rare and reserved for the most popular creators.
How much does it cost to create an NFT?
Whether you’re looking to upload unique trading cards or sell your own digital artwork, the cost of creating an original NFT can vary widely. You may pay as little as $70 or up to $300 or more. In some cases, you may not have to pay much, if anything at all, depending on the platform you use to create your crypto art.
Before you create and upload your original digital art, it’s essential to research and consider your options. If you’re working within a budget, review an affordable, reputable NFT platform that’s easy to use and secure so that you can avoid scams and high fees. Keep in mind that the gas fees vary widely and often, which means a price in the afternoon can sharply increase or fall later that same day.
Finding the right platform may take some time. However, it’s worthwhile to get familiar with the most reputable digital currency platforms before setting up your crypto wallet and connecting to a credit card or bank account. Gas fees are required to pay miners for verifying transactions to ensure they are legitimate.
What NFTs sell best?
As you become familiar with NFTs, you’ll find a wide variance in prices, whether you review digital artwork on fixed price listings or from an auction house. Some top NFTs are selling well, including the following:
Mike Winkelmann’s original artwork, Beeple-crap.com, offers some of the most successful and highest paying NFTs.Â
Justin David Blau, an electronic artist, and musician, are known as 3LAU, with high-priced digital work that sells for well over one million.Â
Many social media memes and gifs can be found on NFT platforms as popular choices for buyers.Â
Many new and upcoming digital artists may appear as “in demand” over time, depending on which memes, gifs, music, and videos become popular online and gain mass following and circulation. Most NFT platforms include a “featured” section, where the best selling and most popular crypto art is showcased for buyers.
If you’re interested in keeping track of the most popular NFTs, there are many forums and online social media groups that post new and trending art available on common NFT platforms. Specific artists often have their own websites or groups where they showcase their collections, including their work’s prices or estimated value.
How to get your NFT noticed?
If you’re a new digital artist or looking to create a side income with your current portfolio of crypto creations, there are some helpful ways to promote and increase the visibility of your work so that they become more familiar to people on social media and NFT marketplaces.
To promote your digital items, you’ll need one or more social media accounts focusing on online networking. Digital artists often share and promote their work online before selling memes, gifs, and crypto art on a blockchain platform.Â
Despite not offering a strong visual component, Twitter is a great way to promote digital artwork, along with links to other social media platforms. Unlike some social media options, Twitter lets you share more than one image or picture at a time. You can also use hashtags to improve visibility and connect with buyers and collectors.
Don’t forget to use hashtags properly, and include as many NFT-related terminologies such as #cryptoart, #digitalart, #nfts, and related terms that adequately describe your specific creation. For example, if you create animated gifs or short videos, use hashtags such as #nftanimation. Original pictures taken with your camera should include #nftphotography
Use Instagram and Twitter interchangeably. Use links on Twitter for your Instagram account and vice versa. This technique will allow for more circulation and visibility. As more people notice your work on one platform, a link or hashtag will encourage them to visit your other account.
Share as much work as possible, especially leading up to a sale or auction listing. This promotion will give people an idea of what you have to offer and generate interest in your crypto art. You’ll also have a greater chance of finding new collectors and specific buyers interested in your brand or style of art.
Don’t hesitate to keep adding more to your profile to keep people interested after sharing one or two pieces of your digital art. If the first several works don’t generate interest, you may find the fourth or fifth photo or video to create a demand. The responses you receive will give you a better idea of what to expect on an NFT platform.
Promote your work on Reddit and similar forums, including Discord. These platforms provide excellent access to communities who buy and sell NFTs and are consistently looking for new, popular purchasing options. Some groups may be looking for the next craze or unique crypto creation, which can give your work a boost.
It’s essential to explore your online options, whether you invest in a paid ad or widely circulate your work on free spaces.Â
Sharing and promoting your digital artwork doesn’t have to cost money, as long as you invest the time and effort to post your work and links to your artwork platform to as many relevant groups, communities, and platforms as possible.
Where can I upload my NFT?
There are several NFT platforms established to create and sell original crypto art. Opensea is one of the largest platforms for this purpose and supports ERC-721, which is an Ethereum standard for NFT tokens.Â
This cryptocurrency is also supported by digital wallets, including Coinbase, Trust Wallet, and MetaMask.
Rarible, Mintable, and Superrare are also common places where you can upload and create or mint your original artwork. Each site offers online tutorials or step-by-step guide on how to set up and link your wallet, create your first NFT, and expand your profile to include multiple NFT artworks, as well as collections, for buyers to review.
While learning about NFTs may seem complex initially, it’s relatively easy to upload any original piece of digital work, whether it’s a small icon or unique logo or design, or an intricate painting, vinyl recording, or detailed media.Â
It’s an excellent way for artists who enjoy creating digital art as a hobby to earn extra income, whether as a side gig or a regular source of revenue over time.Â
Some of the most successful digital artists can earn a significant commission level, and in some cases, can exceed regular day-to-day income.
Conclusion
There’s a lot to learn about NFTs, which may seem complicated and difficult to understand, though, you can quickly gain a lot by visiting non-fungible token platforms with a bit of review. These digital spaces offer a wide range of support and information to make the process easy and painless.
Minting and selling original artwork on a digital platform is an exciting way to explore a new way of generating extra income while promoting your brand or artwork on an international level.
Non-fungible tokens are unique, one-of-a-kind pieces of work that are non-divisible and must be sold in their entirety.
If you’re new to cryptocurrency and NFTs in general, it’s important to get familiar with the possibility of scammers and how to avoid them when you set up your online account and crypto wallet. As NFTs and blockchain become more widely used and traded, it’s vital to understand which companies and platforms are legitimate and avoid fraudulent offers.
As cryptocurrency becomes a more popular alternative to traditional investments, understanding how NFT art and NFT selling works can help many artists build a valuable portfolio and create a steady stream of passive income through secondary markets, which may become a consistent and profitable way to earn a good profit.
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About The Author
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
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