Crafts I Can Make Quick and Sell Fast
How to brand and sell an NFT
How to make and sell an NFT is something a lot of artists and designers are exploring as a potential new artery for creative business. NFT art continues to make headlines when pieces fetch heed-bravado prices in auctions, or 'drops'. Even traditional auction houses like Christie's have held NFT fine art auctions involving huge sums of coin, and brands are working with artists and designers to create NFTs as part of their strategies to enter the metaverse.
It might yet all seem very strange, only what seemed like it might be a short-lived fad shows no sign of petering out. And so if non-fungible tokens are here to stay, at least for at present, is it time to await at how to make make and sell an NFT as a possible road for your own creative work? Nosotros would starting time point out that the prices accomplished by artists like Beeple or past well-known collectable NFTs such as CryptoPunks are all the same relatively rare, and that at that place are a lot of fees involved in generating, maintaining and selling an NFT. In fact, you may discover the fees consume up a large portion of any auction price, and they could even leave y'all out of pocket depending on how much you sell your NFT for.
That said more and more artists, illustrators and designers are marking coin from selling NFTs, so it may be something you lot wish to consider. In the guide beneath, we'll walk you through how to make an NFT of your piece of work and how to sell an NFT through an online auction. Yous can take a look at our pick of the best NFT artwork for inspiration – and if you lot're still not clear on what a not-fungible token really is, we'd recommend reading our what are NFTs explainer sure you're clued up before going any further. If you are set to swoop in and try your luck, read on for our step-by-step guide to how to brand and sell an NFT.
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How to make and sell an NFT
First you'll need to brand, or 'mint' your NFT. To make an NFT of your artwork, you'll need to choose an NFT platform and a payment wallet, the latter of which you'll need to employ to pay fees – and to receive any payment if you're lucky enough to sell your NFT. There are lots of online platforms you lot can utilize to brand and sell an NFT. Some of the nearly popular NFT auction platforms include OpenSea, Rarible (pictured above), SuperRare, Not bad Gateway, Foundation, VIV3, BakerySwap, Axie Market and NFT ShowRoom. Run across our guide to NFT marketplaces for a comparison of some of the almost popular options.
In that location are plenty of NFT payment platforms too, with Coinbase, MetaMask, Torus, Portis, WalletConnect, MyEtherWallet and Fortmatic some of the best known. For illustrative purposes, we'll evidence the process involved in making and selling an NFT using the NFT platform Rarible and the cryptocurrency payment platform MetaMask. Note that these two platforms are chosen purely to prove how the process works, and information technology doesn't mean we're saying they're the best service to use. You could consider using any of the platforms mentioned above, and many more besides, and in most cases, yous'll follow a similar process. Nosotros recommend checking the fees involved as closely as possible before choosing (we'll come up back to the fees after).
01. Buy some cryptocurrency to fund your wallet
All of the NFT sale platforms mentioned in a higher place will want paying upfront to 'mint' an NFT, which is the process that turns your artwork into a non-fungible token that you can sell. In most cases, payment must be made in cryptocurrency, which ways that before you have a chance of earning any cryptocurrency by selling an NFT of your work, y'all'll demand to buy some in society to encompass the fees.
Ether (abbreviated as ETH) is the most normally accepted currency since it'south the native cryptocurrency of the open-source blockchain platform Ethereum, which is where NFTs first launched. Yet, some platforms are starting to accept a variety of payment formats and to create NFTs using different blockchains (see our guide to NFT crypto to acquire more on which might be best for you).
If you already own some ETH you'll need to make sure you lot have it in a digital wallet, which you'll need to connect to your chosen NFT platform to make (and receive) payments. If you don't have currency, there are a lot of cryptocurrency exchanges out there where yous tin buy ETH or other currencies, but the quickest and easiest selection is normally to purchase ETH direct with your digital wallet of choice.
Equally we mentioned, there are many options for this, but to illustrate the process, nosotros'll use MetaMask, which is available as a browser extension and equally a mobile app. If you lot prefer to apply another service, or if you already take a digital wallet and know how it works, jump straight to step 4. Otherwise, we'll talk you though how to set up upwardly your wallet and buy ETH in the next step.
02. Create a digital wallet to pay for your NFT
To create a digital wallet with MetaMask, y'all'll need to go to its website and click on the bluish 'Download' button in the tiptop-right. As we're using a desktop reckoner, nosotros'll choose the option to install the browser extension, but there's also a mobile app.
You'll be asked to confirm that you wish to 'create a new wallet and seed phrase'. Don't worry too much about what 'seed phrase' means (it's basically a listing of words that stores blockchain information). Say yep, then it's simply a thing of like-minded to the terms, creating a password, and making your way through some security measures, then you'll accept your account fix.
03. Add some cryptocurrency to your wallet
Once you've set your MetaMask wallet, or any digital wallet, you'll need to add some ETH to it. If you don't already own some ETH, you'll need to buy some at present, so click on the 'Buy' push and select the option 'Buy ETH with Wyre'. Yous'll exist taken to a screen where you lot tin use either Apple Pay or a debit carte du jour to buy ETH. Note that if you'd rather not office with whatever money yet, yous can leave this phase until later; information technology just requires a little more faff (you'll want to bank check your chosen NFT platform'south fees to know how much you'll need to buy).
The jargon involved in the cryptocurrency world tin can make this part of learning how to make and sell an NFT quite daunting, just buying currency is really very easy to do. Just exist aware that like bitcoin and many other cryptocurrencies, the value of Ether can fluctuate hugely. In 2022 alone, the toll of 1 ETH has gone from under $1,000 to around $4,700 at the fourth dimension of writing, with many peaks and troughs on the mode. Information technology's perfectly possible for the price of the currency to swing by several hundreds of US dollars in just a few hours.
04. Connect your wallet to an NFT platform
Most digital wallets work in a like fashion. Whichever i you lot've chosen, you'll demand to connect it to the NFT platform that you lot'll use to sell the NFT. For illustrative purposes, we're using Rarible, simply there are many other NFT platforms to choose from and the process volition more often than not be like to what we outline below.
Become to Rarible.com (shown above). In the right-hand corner of the screen, at that place's a push button that reads 'Connect wallet'. Click there, and on the next screen, y'all'll be asked for your wallet provider, which is our case is MetaMask. A popup will give you the pick to connect your wallet with Rarible. Click 'Next', then 'Connect', accept the terms of service and ostend y'all're over xiii years sometime.
05. Upload the file you want to turn into an NFT
So now you lot take a wallet connected with ETH to make payment, you're set up to know how to make and sell an NFT. On the Rarible site, click the bluish 'Create' push at the top right. Y'all'll then exist given options to create a unmarried, one-off piece of work, or to sell the same item multiple times. In this example, we'll opt for 'Single'. Now you need to upload the digital file that you desire to make into an NFT. Rarible accepts PNG, GIF, WEBP, MP4 and MP3 files, up to 30MB in size.
To illustrate, we've created an ironically awful piece of art, inspired by David Hockney's controversial London Underground fine art. Upload your (hopefully much meliorate) digital file, and on the correct, yous'll meet a preview of what your NFT post will expect similar.
06. Prepare upward an auction for your NFT
In the next function of the form, you'll demand to choose how to sell your NFT artwork. There are 3 options. 'Fixed toll' allows you to ready a price and sell your NFT instantly (rather like the 'Purchase it now' pick on eBay). The 'Unlimited Auction' option volition permit people to carry on making bids until yous accept one. Finally, 'Timed auction' is an auction that merely lasts for a set time. That's the option we'll choose as an example.
This leads us to the trickiest part: choosing a minimum price. Sell your NFT as well cheaply and the enormous fees will swallow up your profit, possibly fifty-fifty leaving out of pocket. Nosotros'll gear up our cost at an ambitious 1 ETH (currently Usa$4,700) and requite people 7 days to make bids.
Adjacent, you lot get an choice to 'Unlock one time purchased'. This gives you the adventure to provide your eventual heir-apparent with a total, high resolution version of your fine art, and/or boosted material through a cloak-and-dagger web page or download link. Below that is the almost confusing option, titled 'Choose Collection'. This is a very technical question near how the blockchain is ready. The default selection here is 'Rarible', and we'd advise leaving it like that.
07. Add a clarification to sell your NFT
At present y'all can add together a title and description for your listing. To maximise the chance that your NFT will sell, you should have some time to call back about this. Yous're and so asked to consider what percent of royalties you wish to merits on any resale of your art in the future.
Again, this is a balancing deed, as a higher per centum will net you more money per sale in the long run, but information technology will also deter people from reselling your art in the showtime place as they'll be less probable to brand a profit for themselves. Finally, there's an optional field to add your file's properties. With that consummate, you're almost done.
08. Pay the listing fee to sell your NFT (only be warned!)
The last step in learning how to brand and sell an NFT is to click 'Create Item', and you'll exist invited to connect with your wallet to pay the list fee. If you don't take sufficient funds in your wallet, don't worry: you won't accept to start again. But click on the wallet icon in the superlative-right corner of the screen, and you'll be given the option to add funds directly within Rarible.
Earlier doing so, but a final word of warning. The listing fee may seem low: in our case information technology worked out at only $five.91 in US dollars. But this is but the start. Before you tin can get further, y'all'll have to hold to a farther fee to actually generate your NFT, which in our case would have been the equivalent of $42.99 in ETH. If someone really buys your NFT, yous'll have to pay a committee fee on the NFT sale, plus a transaction fee for transfer of the money from the buyer'southward wallet to your own. In our stance, none of this was hugely articulate on Rarible's website at the time nosotros tried information technology.
Nosotros'd love to exist able to explain, clearly and just, how to summate the potential price of creating and selling an NFT, but the confusing nature of blockchain applied science, the wild fluctuations in cryptocurrency values and the lack of transparency on the platforms themselves make that an incommunicable job. Really, you lot're left having to take the risk and wait and run into how much you get charged overall if you lot make a sale, and to hope that you still come out with a profit.
If you lot do fancy taking a punt and throwing some money into making NFT art, though, we wish you the all-time of luck. We'd love to hear near how you become on via Twitter at @creativebloq or Instagram at @creativebloqofficial.
Creative Bloq created this content as part of a paid partnership with MPB . The contents of this article are entirely independent and solely reflect the editorial opinion of Artistic Bloq. Go on your eyes peeled for more articles in this Creative Business organization Calendar month series, which nosotros'll be posting throughout February.
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