Non-fungible tokens (NFT) is the new trend for digital art creators to make money from their own creative work. For the record, there are a few Malaysian artists who earn million by selling digital artwork. Abdul Hafiz Abdul Rahman or known as Katun is the first artist/illustrator to launch an NFT on cryptocurrency platform Superfarm.
What Is NFT & How This M’sian Artist Earns Over RM1.6 Mil In Just 24 Hrs By Selling Digital Artwork?
Undoubtedly, there are a few NFTs have sold for millions. However, it’s a rare exception and not all NFTs can earn that much. Besides, you won’t get all the money as the NFT platforms do charge a range of fees to NFT artists – upfront fee and also after-sale fee. So, you need to fully understand how NFT works to avoid any confusion.
If you are wondering how to sell your NFTs and ways to make some money from your digital artworks, this article will explain it step-by-step.
Where can you sell NFT?
There are a few popular online platforms available for you to make and sell NFTs. Some popular NFT auction platforms are Zora, Rarible, SuperRare, Nifty Gateway and OpenSea. There are many more platforms available that you can look into and compare the fees and services they offer. You can list any type of artwork such as image, TXT, JPG, PNG, MP3 or GIF – which all can be NFTs on any marketplace.
Wait, you need to buy some cryptocurrency first!
Before you set your artwork live on a marketplace, you need to understand that you will need to pay a marketplace to mint an NFT of your work. Most platforms accept transactions using Ether – the native cryptocurrency of the open-source blockchain platform Ethereum.
Cryptocurrencies value can fluctuate wildly and the price can skyrocket from $1,000 to $4,800 in just a second. So you need to be wary of the price from time to time. Once you have set your digital wallet, you will need to add some ETH to it – which is fairly easy to do. You only need to click on the Buy button and choose either to pay with Apple Pay or a debit card.
List your NFT and describe it
Once you have the NFT ready, you can simply upload it on the platform. You can either choose to mint your artwork as a one of a kind piece or as a collection of multiple items. Set the price of your work and then you need to pay the fees that come with creating a new NFT.
Don’t forget to add a title and description for your listing. Take some time to think about how to write it creatively so that people are attracted to bid on your NFT. Before your artwork go live on a marketplace, you will be asked what percentage of royalties you wish to claim on any resale of your art. You need to be careful on this – if you set the price higher, it will deter people from reselling your art as they will be less likely to make a profit for themselves.
Let people bid on your work
Once your work is live on a marketplace, you can choose either a fixed price that allows you to set a price and sell to someone instantly or an unlimited auction that will allow people to carry on making bids until you accept one. There is another option which is a timed auction that only takes place for a certain time.
Make sure you get an option to Unlock once purchased – gives you the chance to provide your eventual buyer with a full, high-resolution version of your art, and/or additional material through a secret web page or download link.
You are ready to list your NFT!
There are so much more to talk about NFT like how to calculate the potential cost of creating and selling an NFT, how to determine the price according to the cryptocurrency and many more. However, these are the basic guide on how to list your NFT and let people bid on it. We hope that you can make a profit by selling your NFTs.
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