Once the NFTs are created and minted on the blockchain, they are all set to be put up for sale. The creator or artist must be aware of the necessary steps to follow on how to sell NFTs.
The following steps will guide you through the process of how you can sell your newly minted NFTs:
Your Exchange Account
In order to sell and purchase NFTs, you must have a cryptocurrency exchange account that supports NFTs. OpenSea, Rarible, and SuperRare are just a few of the major exchanges that support NFTs. You must provide some personal information and go through a verification process to establish an account.
Buying Cryptocurrency
Before you may purchase or sell NFTs, you must first acquire some cryptocurrency. Using a cryptocurrency exchange, you can purchase cryptocurrency with fiat money (e.g., dollars or euros). Create an account with the exchange, attach a payment method (such as a bank account or credit card), and then place an order to purchase the cryptocurrency of your choice.
Funding Your Crypto Wallet
Although there are multiple crypto wallets to choose from, MetaMask is the best one on the list. MetaMask is a well-known browser extension that serves as a wallet for Ethereum-based tokens, such as NFTs. To buy or sell NFTs, you must have some Ethereum in your MetaMask wallet. Buy Ethereum on a cryptocurrency exchange and transfer it to your MetaMask wallet to fund your wallet.
Selling Your NFTs
There are various options for selling your NFTs. One option is to sell them on a marketplace such as OpenSea, Rarible, or SuperRare. You must register in the marketplace, establish a price for your NFT, and then put it up for sale. Another alternative is to sell your NFTs in private deals to other collectors or buyers.
Marketing Your NFTs
Marketing is a critical component of selling your NFTs. You can advertise your NFTs and reach a larger audience by using social media platforms, forums, and other online communities. You should also investigate contacting art galleries or other venues that might be interested in displaying your NFTs.
Price Your NFT
Decide how much you want to sell your NFT for, taking into account aspects like the NFT’s originality and perceived value, as well as current market conditions.
Create a Listing
Once you’ve settled on a price, you can list your NFT on the exchange of your choice. Most of the time, this means uploading the NFT file and giving information about it, like its name, description, and any tags that apply.
Next, decide what kind of listing you want to make. Listings on markets usually have two options:
- Fixed Price: Choose this option if you wish to sell your NFT for a set price. Simply input the price of your NFT and the amount of time you want the listing to be active to establish an “on sale” listing.
- Auction: In this sort of listing, you establish a minimum price (also known as the reserve price) for your NFT. Then an auction is held, with the highest bidder winning your digital item.
Accept the Offer
After listing your NFT for sale, you must wait for someone to make an offer to purchase it. You will have the choice to accept or reject an offer when it is made. If you accept the offer, the buyer will receive the NFT, and the deal will be completed.
Conclusion
The process of how to sell NFTs may appear complicated at first. There are a lot of details to remember, but the procedure is simple if you put in the time and effort. Check out the options available to you in terms of marketplaces, auction settings, and financial procedures like fees and gateways.
Once you’ve made sure you have everything covered, you’ll be ready to sell some amazing NFTs.
