If you are new to the NFT community, knowing how to sell NFT art can be confusing. It is not as hard as many people think. All you need is your artistic skills, a basic understanding of cryptocurrency, and a unique story to make your artwork stand out. Let’s explore how to mint an NFT and begin selling it.
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How to create an NFT
Without getting into an in-depth explanation of NFTs, an NFT will be considered any type of visual art for the purpose of this article. The first thing you have to do is to make an NFT. This can be text, animated GIFs, videos, or audio files (or a combination). You can even make a music NFT and link it to a specific piece of artwork.
First, create the art on Procreate, Krita, Gimp, Photoshop, or the art program of your choice. Many creators of NFTs are graphic designers, physical artists, digital artists, animators, and musicians. You do not have to have any training or skills other than how to use your chosen software to make an NFT.
Once you have the actual art, the next step is NFT minting. This process places a digital code on the piece of artwork that is like the authenticity certificate on a physical piece of art. It identifies that particular digital file as the original. When you purchase an NFT, it is like owning the real Mona Lisa instead of a copy.
The world of NFTs continues to grow, and in 2021, there were over 6.1 million NFTs sold across all the categories. With the growth of the Metaverse and Web3, sales of NFTs are expected to climb even higher. NFTs are sold using cryptocurrency, including Ethereum (ETH), XTZ, and Tezos. Platforms like Rarible and OpenSea are the most popular.
How to mint an NFT on OpenSea
Once you have created your digital art, the next thing you need to do is to sell it. OpenSea is a popular website where you can sell your artwork. Here are the steps that you need to mint and sell your artwork on the platform.
1. Get a Crypto Wallet
NFTs are traded on the blockchain, so you will need a crypto wallet to store your currency. You can choose from many crypto wallets out there, but on OpenSea, MetaMask is the most popular one for that platform. You can get the MetaMask wallet here, but you can also use any other wallet that is compatible with the OpenSea Platform. Consider getting an offline hardware wallet like a Ledger Nano X too for more security.
2. Sign up for OpenSea
The next thing you will need to do is open an account on OpenSea. Once the setup is complete, you will need to connect your OpenSea account to your crypto wallet. Once you are signed into your OpenSea account, navigate to the top right bar, and click on profile. A new page will appear that prompts you to connect your wallet and walks you through the steps.
3. Creating Your Collection
Now that you have your crypto wallet attached to your OpenSea account, it is time to start creating your first collection. Go to your profile and select “My Collection.” You will now need to set up a featured image, logo image, and banner for your collection. Fill in all the information on the collection, including the description of your collection and category.
4. Set Your Royalties
An NFT is a digital asset, and you can collect royalties every time someone resells your original artwork. This is similar to the royalties publishers pay you when they resell your books. On OpenSea, royalties are paid out monthly to the wallet of your choice. OpenSea allows a maximum of 10% royalties.
5. Minting Your NFTs
Now that you have your collection set up, it is time to start minting your pieces of artwork and placing them for sale on OpenSea. All you do is go to your collection and hit the “Add Item” button on the top right bar. You can now upload your piece of artwork, images, 3D models, or audio files. Fill in the name, description, other information, and it is ready to sell.
6. Ways to Sell
During the final step of the setup process, you will be asked a few questions like how many of your items you wish to create. One of the keys to the market is rarity. Many artists choose to sell one-of-a-kind art only. Others only offer limited editions. The strategy that you use depends on your artwork and your target market, and the best way to choose is to look around and see what other artists who are producing work similar to yours are doing.
How to sell music NFTs on OpenSea
Musicians are finding that music NFTs represent a new medium for selling their music (in a more profitable way than streaming). One thing that makes selling NFTs on platforms like OpenSea different is that you can pair a piece of artwork or a video with your music and sell it as a package that cannot be separated by using a digital code that links them permanently. This allows you to create a visual and sound experience for the viewer that is unique.
One thing to keep in mind with NFT music is that scarcity is the key to value. Rather than mass distributing your music as a piece of artwork, you can create a track that only one person owns. Instead of selling millions of copies for pennies on the dollar, you can create a track and have only one available. In this way, music is treated more like a rare piece of artwork in the world of NFTs.
The future of NFTs
Right now, NFTs are all the buzz, and new platforms for selling them continue to emerge. Platforms like Axle Marketplace, Larva Labs, SuperRare, and Rarible continue to grow. The question is whether this trend will continue or whether it is just a fad that does not have a future.
The story of NFTs began with the idea of the blockchain. The goal was to create a currency that was not controlled by the few but that was available to the masses. Blockchain technology is the key to the world of NFT art because it provides a new way to prove authenticity.
NFTs began to explode when an artist known as Beeple sold a piece titled “Everydays: The First 5000 Days” for $69 million in partnership with Christie’s. What makes NFTs different from a piece of artwork in the physical world is that blockchain provides a reliable way to prove authenticity that cannot be faked.
NFT verification does not only apply to artwork and music. This same concept is being applied to the world of fashion. For instance, Nike plans to create NFT verification on its shoes so that you can easily spot a fake. There have been plans to integrate NFTs into the idea of contracts, certifications, and other ownership proof in real estate. The concept of verification using blockchain and NFTs are expected to revolutionize more than the world of art.
Various pieces of artwork and styles might come and go, just as it does in the physical art world, but the concept of using blockchain as a way to identify and authenticate ownership of assets is here to stay. Companies continue to find new ways to use NFT verification and authenticity in ways that go beyond the world of art. With so many different applications of NFT technology, it would be difficult to call it a fad. In terms of the market cycle, one can only conclude that this is just the beginning, and there is tremendous room for growth in the years ahead.
Where to learn more about how to create an NFT
If you want to become more involved, you have plenty of opportunities on almost any platform you choose. If you search for NFTs on platforms like Twitter, Discord, Facebook, or any other social media platform, you will come up with hundreds of results. Some of the more popular hashtags include r/NFT. Vee Friends is another popular place for beginners who want to learn how to sell NFT art.
Some other popular hashtags on Twitter are #NFT, #NFTCommunity, and #MusicNFT. Over 800 servers on Discord include the term NFT. Some of the most active NFT communities on Discord include Bored Ape Yacht Club, Mutant Cat, Cool Cats, and NFT.
Just as in the physical art world, the best-selling pieces are art with a story behind it and pieces that speak to the viewer in a special way. Now you understand how to mint an NFT and how to sell NFT art. It is suggested that before you jump in, you explore the world of NFTs on social media to get a feel for it. When you are ready, the world of NFTs offers an exciting opportunity for artists and musicians of all types.