NFT art has become a sensational thing for digital art. When the digital art “Everyday — The First 5000 Days,” was sold at $69 million, the world went crazy and grabbed everyone’s attention.
And if you are one of them who got inspired by the new sensation and want to make an earning out of selling NFT art then you need to know how to make and sell NFT art. Thoroughly the article we will guide you step by step to make sure you accomplish your goal.
Steps on making and selling an NFT
In the process of how to make and sell NFT, the first things you need to do is make or “mint” your NFT. To accomplish that you need to choose an NFT platform as well as a payment wallet. The wallet is necessary for paying fees also receiving any payment if you can sell your NFT. There are various online platform where you can “mint” art into NFT. Some of the popular NFT auction platforms are OpenSea, Rarible, SuperRare, Nifty Gateway, Foundation, VIV3, BakerySwap, Axie Marketplace, NFT ShowRoom, etc. See our guide to NFT marketplaces for a comparison of some of the most popular options.
On the other hand, there are also many well-known NFT payment platforms which are Coinbase, MetaMask, Torus, Portis, WalletConnect, MyEtherWallet, and Fortmatic. Here we will show the process which involves making and selling an NFT using the NFT platform named Rarible and Metamaksk as the cryptocurrency payment platform. But you can choose any of the NFT platforms or NFT payment wallets according to your convenience. You can browse other platforms following the similar process that we will mention throughout the guideline.
It is best advised to check the fees involves as closely as possible before choosing ( we will mention the fees later in the guideline).
1. Fund your crypto wallet with some cryptocurrency
The NFT auction platform that has been mentioned will want a payment to “mint” an NFT. Through the process of “mint”, turns your artwork into a non-fungible token that you will be able to sell later on. The payment has to be made in cryptocurrency in most cases, which indicates that before your get to sell your NFT and earn cryptocurrency, you have to buy some to pay the fees.
Ether which is abbreviated as ETH is a widely accepted currency because it is a native cryptocurrency of the open-source blockchain named Ethererum, where NFTs were first launched. Nevertheless, some platforms are being flexible to accept a variety of payment formats for creating NFTs using different blockchains.
If you own some ETH already then all you need to do is make sure to store it in a digital wallet. This will help you to connect your chosen NFT platform to make and receive payment. If you don’t have ETH then you can buy them from a cryptocurrency exchange that provides it.
2. Make a digital wallet paying for NFT
Creating a digital wallet with MetaMask is pretty simple. All you need to do is go to its website and click on the “Download” button which is located at the top-right of the page. The download is available for browsers, iOS, and Android. But here we will be showing the steps using a desktop computer. Therefore we will choose the option to install the browser extension.
Then you will be asked to confirm whether you wish to “create a new wallet and seed phrase”. If you thinking about what is “seed phrase” is don’t worry, we will break it down for you. The seed phrase means a list of words that are used to store blockchain information. Click “yes” and it will redirect you to agree on the terms and policy. Then you need to create a password( use a strong one) after you make your way through some security measures, your account will be all set up.
3. Adding cryptocurrency to your wallet
After you set up your MetaMask or similar digital wallet, the next thing you need to do is add some ETH. if you don’t own any ETH then you need to buy some. Click on the “Buy” button in the MetaMask interface and select the option “ Buy ETh with Wyre”.
You will be redirected to a screen where you can either use Apple Pay or a debit card to buy ETH. Note that if you currently don’t have the money then you can leave this stage for later.
In the process of how to make and sell NFT art, buying currency is the easy part. But you have to be aware that like Bitcoin and many other cryptocurrencies, the value of Ether fluctuates drastically. For example, in 2021, the price of 1 ETH rose from $1000 to $4700. So it is quite possible for the price of the cryptocurrency to go up by several hundred dollars in just hours or it can go down depending on the condition of the market.
4. Connect your crypto wallet to an NFT platform
Most of the digital wallets work in a similar manner. No matter which wallet you have chosen, you still need to connect it to the NFT platform which you can use to sell the NFT. To make you understand we will discuss Rarible which is a popular NFT action platform.
If you choose another NFT platform then don’t worry, the process we will show will be similar to the platform.
Go to the site Rarible.com. Look at the right-hand corner of the screen and you find a button that says “Connect wallet”. Click on it and you will be taken to the next screen, there you will be asked to add your wallet provider which is MetaMask in our case. A popup will be shown on the screen to connect your wallet with Rarible. Then click “Next” and finally click “connect” as well as accept the terms of services and confirm your age is over 13 years old.
5. Upload the file to turn your art into an NFT
As you have successfully connected your crypto wallet to pay using ETH, you are pretty much ready to know how to make and sell NFT art. On the site of Rarible, click the button “ Create” which is at the top right. There you will be given options to create single, one-off work, or to sell the same item multiple times.
To keep it simple, we will use the option “ SIngle”. Then you need to uploads the digital art that your need to make into an NFT. PNG, GIF, WEBP, MP4, and MP3 files, up to 30MB in size are all accepted by Rarible.
After uploading your digital art, you will get to see a preview of what your NFT post would look like.
6. Setting up action for your NFT art
In this part, you have to decide how to sell your artwork. There are mainly three options which are “fixed price’, ‘Unlimited Auction”, and “times auction”.
Fixed price allows you to set a specific price and sell them instantly. The “Unlimited Auction” will give the option for the bidders to make bids on your NFT. And lastly, “Timed Auction” ladies for a particular set of time.
7. Adding a description to sell your NFT
There is an option to add a title and description for your listing. This will maximize the chance of selling your NFT, so you should take some time and think about this. In the next part, you will be asked to consider what percentage of royalties you desire to claim on any resale of your art in future events.
And at last, there is an optional field to add the properties of your file and with that complete, you are done.
8. Paying the Listing fee to sell your NFT ( some major warnings)
The last and final step is learning how to make and sell NFT art. Click “Create Item” and you will be invited to connect with your crypto wallet for paying the listing fee. If you don’t have sufficient funds in your crypto wallet, then don’t worry, you won’t have to start the whole thing again. Simply just click on the wallet icon in the top-right corner of the page and you will be given the option to add funds directly within the Rarible site.
But there is a catch here which you must be warned here. The listing price might seem low at the beginning such as $5.91. But that is only the beginning. Before you can go forward, you will have to agree to the further fee to generate your NFT which can cost the equivalent of $42.99 in ETH.
If someone buys your NFT, firstly you have to pay a commission fee on the NFT sale including the transaction fee for the transfer of the money from the buyer’s wallet to yours.
Learning how to make and sell NFT art can be quite exciting but at the same time, it involves the confusing nature of blockchain technology, the wild fluctuations in cryptocurrency values, and the lack of transparency on the platforms themselves which make that an impossible task. So the whole thing should be done with precaution.