How to make and sell NFT is something a lot of artists and designers are exploring as a potential new way to make money. But NFTs are more than just a new way to sell artwork, as they can secure ownership of digital assets, provide access to new communities, and even use them to record ownership of items in real life.
How to make and sell NFT
NFTs, or non-replaceable tokens, are a verbal way of saying that it is not replaceable or unique. They make digital items rare, rare, and extremely valuable. An NFT represents ownership of a specific file or item, such as artwork, videos, in-game items, and even real estate, and is stored on the blockchain.
Best NFT Marketplaces for Artists
OpenSea is the largest and most established NFT market on the Ethereum blockchain. It hosts a wide range of NFT categories, from art to collectibles, virtual lands and domain names.
- It is an easy to use market. You can quickly set up your account.
- OpenSea is a non-proprietary platform. This means there is no review process; You can hit your NFT and start selling immediately.
- The biggest downside to OpenSea is the fuel charge. Suppose this is your first time selling an item on the platform. In this case, you must pay two types of transaction fees: setting up your account to enable sell orders and allowing OpenSea to access your NFT item. The second fee only occurs if you mint your NFT through a smart contract rather than the OpenSea platform.
- After this initial fee, sellers do not pay any seigniorage fees. Therefore, you can create and list as many NFTs as you want without paying more.
- You have three options for registering as a seller: Fixed Price, Decreasing Listing Price, and Auction. Buyers can bid even for fixed price lists. It’s up to you to accept them.
- If your work is sold at a fixed price, the buyer pays the gas costs at the time of the sale. But if you accept an offer that is different from the listed listing price, the seller must pay it.
- We also have a detailed guide on how to buy NFT on OpenSea in case you are also interested in this platform as an NFT aggregator.
Rarible is another NFT marketplace for selling individual artwork as well as collections. Like OpenSea, it hosts NFTs from a wide variety of classes.
Rarible has released its own cryptocurrency called RARI, which is a token of governance. The holder can vote on platform upgrade proposals and participate in NFT organizations.
- Although Rarible also hosts curated collections, it allows anyone to create and sell NFT art. So, just like OpenSea, it’s not exclusive.
- When you enter an NFT into Rarible, it is automatically added to OpenSea.
- The total transaction fee is 5% of the sale price. Buyers and sellers pay 2.5% by default. Sellers can choose to pay the full amount to make NFTs more attractive to buyers.
- Besides Ethereum, Rarible also supports the Flow and Tezos blockchain.
Read also : Best nft marketplace for beginners