NFTs have revolutionized the manner artists and creators can sell their artwork. While nigh people aren’t going to make $seventy million from an NFT like Beeple’southward ‘Everydays’, creating and selling NFT art has given artists more flexibility and ownership over how they publish and distribute their art.
If you’re a novice and want to learn how to brand and sell NFT art, we’ll aid yous empathise the basics of blockchain, cryptocurrency, and NFTs.
With quick-and-easy steps for listing your NFT artwork for free on popular marketplaces like Opensea, this guide volition aid you understand the basics of starting out as an NFT artist, the costs involved, every bit well as a ton of examples of neat NFT projects that have been recently released.
- What is an NFT?
- How to make an NFT
- How to sell an NFT
- The cost of selling an NFT
- Are NFTs worth it?
What is an NFT?
Before nosotros become started, it helps to know what we’re talking about. An NFT is a ‘non-fungible token’.
means that something can be replaced past an identical particular. For example, lightbulbs are fungible, as are q-tips, volvos, and my ex-girlfriend.
Non-fungible, however, means that it cannot exist copied or replaced with an identical version, like the Mona Lisa, or the years I volition never get back because they were stolen from me by a heartless harpy woman.
In the context of Web3, an NFT is a slice of art that acts as a token associated with a unique line of code on the blockchain. This line of code volition be unique, in that it cannot be replicated, since the blockchain is a publicly distributed record of transactions.
Other terms to know before you start
A cryptocurrency is a digitized currency, like Bitcoin or ether, that exists on a blockchain. Cryptocurrency – or ‘crypto’, every bit it is also known – is a
decentralized and unregulated blazon of currency that isn’t governed by any central say-so.
With conventional currency, similar dollars or pounds, governments command and regulate the catamenia of coin via fiscal policy and a central banking company. With crypto, in that location is no single governing potency or regulatory framework.
A blockchain is a digital ledger that is distributed beyond a network. Think of a blockchain as a chain made upwards of blocks of information, in which nobody owns the entire chain.
Blockchains are public, decentralized databases, whose ownership is shared across an entire network.
Since a public record exists of every transaction, blockchains offer a huge functional potential for things like digital contracts, NFTs, and cryptocurrency.
A lot of crypto-related phrases have their roots in traditional banking and finance. You might have heard that when a government puts a new batch of coins into apportionment, they’re said to take ‘minted’ those coins. This is because a ‘mint’ is also the word for the primary producer of a country’s coin currency, sort of similar a press printing.
When you mint an NFT, it’southward like
putting a new coin, or token, out into the digital world, after officially ‘stamping it in’ to the blockchain. One time minted, an NFT receives a unique and uncopyable line of code associated with it on the blockchain.
A crypto wallet is where people can store their digital currencies. There are a few different crypto wallets that have gained popularity over the terminal few years, including Coinbase, Exodus, Electrum, and Metamask.
Wallets let people interact with the blockchain using their cryptocurrency, for things like buying and selling NFTs, or exchanging crypto.
Since the blockchain is spread out across a bunch of other people’s computers, gas fees were invented as a kind of
rental fee for using the hardware the blockchain lives on. Gas fees are charged every bit a fee for using the Ethereum blockchain, and assistance to end every 12-yr-one-time boy from minting a meg Microsoft Paint drawings of butts.
The blockchain may be a digital network, but information technology lives on bodily hardware. Gas fees tend to increase when need for a blockchain is currently loftier.
When an NFT is simply minted after it is purchased, information technology’south called lazy minting. This allows people to buy NFTs ‘off chain’, and lets artists
avoid having to pay upfront gas costs in social club to mint their NFTs.
When an creative person has non minted an NFT just sells it, they can mint it just in fourth dimension for the sale and include the gas fee in the total purchase price.
How to brand an NFT
At that place are a number of dissimilar digital assets that tin be minted as NFTs. Perhaps the most common and talked well-nigh form of NFTs are just images, similar the famous CryptoPunks series or the Bored Ape Yacht Gild (BAYC).
Each of these series is non-fungible, in that they have a unique piece of code associated with them that cannot be copied, and there is zip ambiguity about their buying. Still, there are a ton of other assets that can be turned into an NFT, including photography, songs, animations, videos, 3D objects, and even virtual blocks of land in the metaverse.
NFTs may nonetheless be known for just being pictures of apes, simply there’s a lot more to them. Owners of the BAYC NFTs, for example, become access to an exclusive customs of owners, and access to future drops past the BAYC brand. Concert tickets, exclusive events, and percentage royalties are some common perks you tin can go from owning an NFT.
If you’ve already got fine art in mind you desire to sell as an NFT, like a drawing, painting, or 3D model, it’s a pretty straightforward road to minting and selling it. However, if you’re not sure what art to turn into an NFT, look at other well-known NFT collections for inspiration.
Many famous NFT art collections are unproblematic digital illustrations, like BAYC, Cryptopunks, and World of Women. Others are more circuitous, and involve 3D imagery and animations, like fvckrender, and Daniel Arsham’s work.
If yous’re non sure where to start, play effectually on pop NFT art programs like:
- Adobe Photoshop
Y’all tin can likewise investigate generative NFT art, which is more technical but tin allow you lot to mass-produce thousands of unique pieces of artwork using AI.
How to sell an NFT
One time you’ve designed your artwork, you can begin the process of uploading, storing, and selling it on a blockchain. It sounds complicated, merely it’s actually pretty straightforward. Here’southward a pace-by-step breakdown of how to sell your NFT fine art for gratuitous.
1. Create a digital wallet
First, you’ll demand a digital wallet. A wallet lets you
store and spend your cryptocurrencies, and will allow you to
transact on marketplaces
where you can buy and sell NFTs. Opensea.io is ane of the largest NFT marketplaces out at that place and has a list of wallets compatible with the platform.
More often than not, information technology’south a good idea to choose a wallet that is compatible with the Ethereum blockchain, since Ethereum (or ether, every bit it’s technically known), is the most common cryptocurrency used in NFT sales.
Tip: Yous can choose other cost-effective blockchains and cryptocurrencies, just keep in mind that most collectors and buyers utilize Ethereum. Using a different currency may lower your chances of selling your art.
To go started with a wallet on Metamask, 1 of the simplest and most popular cryptocurrency wallets, follow these steps:
- Head over to Metamask.io, using Google Chrome
- Download Metamask and add it to Chrome every bit an extension
- Follow the instructions in Metamask to create a new wallet
- Your wallet is now gear up and ready to get.
two. Cull an NFT marketplace
After you’ve set up a wallet, y’all’ll need to find a marketplace to list, mint, and sell your NFT art, such as Rarible, Opensea, or Nifty Gateway. These major marketplaces have well-stocked back up sections, and resource to help you lot get started with ownership and selling NFT art.
Tip: One of the benefits of sites like Rarible and Opensea is that they offering free lazy minting. This means you lot can list your NFT fine art, sell it, and the buyer will pay the minting cost one time the transaction is finalized.
Whichever market place you cull, proceed an middle on the platform fees associated with listing your NFT art, and the blazon of cryptocurrencies they back up.
3. Purchase cryptocurrency
pop cryptocurrency for the NFT art marketplace is Ethereum (ETH). Ethereum was one of the very get-go blockchains, and its eponymous cryptocurrency has become one of the most widely used in the world.
Proceed in mind that whatever crypto you lot utilize, any transactions on the blockchain, including minting and listing fees volition cost money, so yous’ll have to invest in some ETH before you tin get started and listing your artwork for sale.
4. Connect wallet to an NFT market place
You tin at present connect your digital wallet to a market. Opensea has a wallet icon in the acme right corner through which you lot can seamlessly link your Metamask wallet in just a couple of clicks.
five. Upload the file you desire to turn into NFT
Once you’ve fix upwardly your wallet, stored some crypto in it, and connected to a market place, you’re ready to start uploading and selling your NFT fine art. Opensea has one of the simplest upload processes out at that place, just click the ‘Create’ tab and you’ll be taken to an upload workflow, like this:
Once you’ve filled in your file’s details and written a solid description for your piece, y’all’re ready to upload your first NFT.
Opensea and other platforms also give the option to set royalty amounts, which will allow you lot to
take a percentage cut (to a maximum of 10%)
of any future sales of your NFT, fifty-fifty afterwards you’ve sold it to its original buyer.
Depending on how you want to list your item, y’all’ll need to pay gas fees to mint your NFT. These can vary depending on the network you use and the cryptocurrency you choose. Minting costs tin can also fluctuate over time and based on the cryptocurrency you use, since a cryptocurrency’south relative value in ‘real coin’ can fluctuate with the market.
6. Prepare an sale or fixed price
Most NFT marketplaces will permit you lot to set your listing type as either an auction or a stock-still price. These are two common ways to buy and sell NFTs.
auction volition let you to set a reserve price, i.eastward. the minimum bid required
to allow the sale of the NFT to go ahead. If the reserve is not met, the sale will typically not proceed.
fixed price is the listed price for an NFT.
While stock-still prices offer the prospect of immediate and anticipated sales, auctions have more unpredictable returns, with some NFTs going for much college than they would take if they’d been listed with a fixed price.
Ultimately, information technology’south up to you how you desire to toll your NFTs. Keep in listen that NFT fine art is condign increasingly competitive, and you will need to justify a higher floor price through unique artwork, amazing functional benefits to owning your NFT, or a combination of both.
How much does information technology cost to sell an NFT?
Selling NFTs comes with a variety of fees, depending on the cryptocurrency and platform you lot employ. Platforms similar Opensea have a unproblematic fee construction,
charging 2.v% commission
only once a transaction is completed.
Other platforms like Neat Gateway accuse a much
higher commission of fifteen%. While this is probably cheaper than a concrete art gallery, it’southward still the highest commission out there at this time.
NFT fees are actually a petty bit complex and can vary a lot. This is due to the following factors:
- Every NFT platform has its own fee structure, which can include
listing fees, minting fees, commission, or account membership fees.
- Different blockchains take different processes and fees. Data size, project quality, transaction speed, mint fourth dimension, and gas fees all play into the cost of an NFT.
- Blockchain transaction fees
change according to the network’s supply and demand.
In periods of high need, gas fees tin can increment significantly. If y’all notice gas fees seem too high, wait for another time to transact on an NFT.
- Cryptocurrency prices are
volatile and tin can fluctuate significantly, which also influences the costs associated with NFTs in ‘real coin’ terms.
A note on gas fees.
All blockchain operations require at least 1 transaction, which costs gas fees. Given that many people are using a finite amount of processing power on the blockchain simultaneously, gas fees can oft fluctuate, sometimes upward to hundreds of dollars per transaction. According to Banks, who’s one of the nigh prominent voices in the NFT/Web3 infinite, it’s not uncommon for gas fees to hit around $500 per transaction these days.
prices for minting an NFT currently range from $1 to $500. However, given the ever-evolving nature of this space, plus the advent of new blockchains, currencies, and marketplaces, it’s likely that NFT fees will go along to change over the coming months.
Pros and cons of selling NFT art
All the same unsure whether y’all want to sell NFT fine art? That’s okay. It can be a daunting space, and NFT art is still new territory. While some of the best-known NFT artists, like fvckrender, have fabricated themselves millionaires many times over selling NFTs, they are more often than not the exception, rather than the norm.
As long every bit you’re realistic in your expectations, there are a number of benefits to selling NFT artworks that didn’t exist before, equally well as a few drawbacks to selling art in this emerging space.
- Selling NFT art allows you to
marketplace your art immediately to an international audience
- Yous tin
make NFT art with a huge number of different programs, from illustration platforms like Photoshop and Procreate, to generative imagery using Python, 3D models in programs like Blender, animations, and much more.
NFTs have many niches, and there’due south an audience for everything.
From projects with tons of utility attached to the art, like exclusive events and memberships, to digital sports memorabilia, there is something for anybody.
- NFTs offer artists a unique connection with their fans, by giving them admission to future drops, membership in sectional communities, and the ability to earn royalties.
- There is very little transparency across the NFT space, and information technology tin be disruptive at times. With currency fluctuations, multiple currencies, and many more existence developed each 24-hour interval, scam NFT projects, unclear fees, and terminologies, Web3 is still very much a developing area. For at present, the tradeoff of the NFT golden rush is that we’re very much still living in the Wild West of Web3.
NFTs are still inherently risky.
Minting and selling NFTs takes time and coin, and you may not make enough to suspension even in the commencement. Given the volatility of some cryptocurrencies and the fickle nature of the NFT marketplace at times, it’s worth exercising caution when jumping into new projects, especially if you’re listing and minting multiple pieces at once.
Are NFTs worth information technology?
According to Yahoo Finance, the global NFT market is expected to grow by
over 400% in the next five years, representing a full market place value of
13.vi billion USD by 2027. The possibilities of NFTs are just just kickoff to exist explored, and thousands of artists accept made – and kept – significant returns on their work through NFTs.
NFTs also provide something that has never been washed before in the fine art world. Because NFTs are built on the blockchain, the concept of artistic scarcity is now written into code for all to see. NFTs revolutionize concepts of actuality, ownership, and subjective value.
Ultimately, as with all artistic endeavors, the more time y’all invest in building your knowledge and your skill fix, the more likely yous’re going to find something worthwhile.
NFTs offer a unique opportunity for artists to develop their craft and run a business organisation.
Even if yous’re not making fatty stacks in the beginning, NFTs provide a great style to keep more control over the way you distribute your work and earn money.
Some inspiring examples of cool NFT artists
Here are some of our favorite examples of swell NFT artists:
- Mad dog jones
- Political party Degenerates
- Block Head Punks
How to make and sell NFT fine art FAQs
ane. Tin can I sell prints of NFT art?
Only if you are the creator of the original artwork or take been granted limited permission to do so. NFT artists keep the commercial rights to any artwork underlying an NFT, sort of like owning the original master recordings of a song. While collectors are free to sell, trade, and transfer NFTs, they cannot reproduce the artwork without permission.
2. Tin yous sell someone else’s art equally an NFT?
No, since the artist owns the copyright to their artwork. While NFT screenshot scams are prevalent, the whole point of NFTs is that they are fourth dimension-stamped with an original line of lawmaking that distinguishes ‘fakes’ from existent NFTs.
3. Can you sell an NFT of anything?
Yous can technically include anything within the utility provided by an NFT auction. Some people have sold houses every bit NFTs. While you lot can’t literally turn your dog into a line of code, you could technically sell a jpeg image of your canis familiaris, mint it, and include in the contract underpinning it that the owner gets your actual dog (you maniac.)
4. Is creating an NFT profitable?
Information technology can be. Information technology largely depends on who you are, when you created your NFT, whether y’all possess any marketable artistic power, or if you’re offering any uniquely enticing utility in your NFT.
Besides the numerous examples of NFT artists who’ve fabricated bank, NFTs provide an alternative manner to transact and proceed a record of sales, and are therefore proving assisting for many unlike businesses, events, and individuals.
Showtime making and selling your NFT artwork today
If you’re interested in how to make and sell NFT art, the best thing to do is start by getting articulate on your medium first. If y’all’re already creating art, great! Many artists sell NFTs of concrete art like paintings, drawings, and photographs, while others create them digitally first.
Being an NFT artist involves a solid understanding of three cardinal layers:
Which pieces sell? Why exercise people buy some collections and non others? What makes your work unique? Is there enough of your work to provide potential collectors with an incentive to track downwards ‘rare’ objects or pieces within your collection? The all-time collections have a high number of artworks, common themes, and slight variations on those elements for certain pieces. Sort of like a pack of pokemon cards!
Knowing a picayune bit nigh the blockchain, cryptocurrency, and NFT marketplaces can give you a massive head start. Hopefully, this guide has armed yous with the baseline knowledge needed to listing, mint, and sell your artwork online.
Knowledge of NFT utility.
I of the most disquisitional, and often overlooked aspects of successful NFTs is the associated utility that comes with the artwork. Call back of the artwork as a token. While some NFT art is purely valuable for its rarity and quality, many successful projects provide some utility to their owners, through royalties, admission to exclusive drops, community membership, and more than.
Community-driven and unique NFT projects
generally have a longer shelf-life than simply spamming artwork lone.
Ultimately, the NFT infinite is still a new and evolving mural, and it’s a really exciting time to exist taking part in it. There is still massive potential for new projects, and nosotros’re only but scratching the surface of the capabilities of NFTs.
Expert luck, and happy minting!