Bored Apes, CryptoPunk, Beeple… no, these are not the names of trendy music groups! Rather, it is a successful “NFT”. Anyone who follows economic news has probably heard of NFTs. Lately, some NFTs have been sold for gold!
The principle of NFTs as digital works of art is not difficult to understand. But what about their creation and sale? Specifically how to sell an NFT? Discover the most important steps below.
Which type of NFT to choose?
Before we talk about the actual steps, it makes sense to think about the type of NFT you want to sell. For simplicity, NFTs are often associated with: digital artwork† This logic is correct in the sense that many NFTs (in digital form) are paintings, charts, drawings, etc.
However, limiting the scope of NFTs to art as such is restrictive. An NFT is indeed not not necessarily a work of art† Depending on the field in which you work, it may be interesting to know that an NFT can also take the following forms:
- A book ;
- A loyalty card;
- A promotional code.
The steps to sell an NFT
Have you chosen your NFT? Then all you have to do is follow the 5 steps below to sell your NFT.
Step 1: Choose your blockchain
This step is crucial because it will have implications for the future. Simply put, the choice for the blockchain conditions the choice of your portfolio and that of the platform on which you are going to sell your NFT. More and more blockchains are using NFTs like Binance Smart Chain, Tron, Texas, etc. For simplicity for the rest of the explanation, we will use the queen blockchain for NFTs at this point: Ethereum.
Step 2: Create a crypto wallet
Creating and selling an NFT is done on a blockchain (in this case Ethereum for our example). Each blockchain uses a specific token for NFTs† Therefore, you need to create a crypto wallet that will allow you to store these cryptos. But be aware, not all wallets are compatible with all NFT tokens.
In the case of the Ethereum blockchain, this is the token ETH-721† The following wallets are compatible with the ETH-721 token: Coinbase, MetaMask, Trust Wallets. The MetaMask wallet is widely used in the context of NFTs.
Step 3: Transfer money to your crypto wallet
The sale of NFT involves costs. This one fees must be paid in crypto (depending on the chosen blockchain). Also, you need to deposit money in your crypto wallet first.
If you already own Ethereum, you can transfer it directly to your wallet made for NFTs. Otherwise, you can buy Ethereum on a classic crypto exchange like Binance, Kraken, Coinbase, etc. Once the crypto is purchased, all you need to do is transfer the funds to your wallet.
Step 4: Choose your NFT platform
The next step is to choose your platform to use your NFT . to sell† With the explosion of the NFT market in 2021, many platforms have emerged. How do you make your choice? You have to take into account two main criteria.
Like everywhere, take the time to evaluate first the serious one platforms available. The most careful thing is to choose a platform with a shop window. Another criterion concerns: compatibility from your chosen blockchain platform. So that brings you back to the first point about the importance of choosing a relatively “specialized” NFT blockchain. Otherwise, you have few choices when it comes to platform.
For example, with the Ethereum blockchain you can choose the platform open seaone of the most important and recognized in the field.
Step 5: Sell your NFT
All you need to do is start the process of selling your NFT! Start by creating your account and profile on the chosen NFT platform. The registration steps are relatively standard.
Then you should connect your wallet to the platform† In our example, this would concretely correspond to connecting your MetaMask wallet to the OpenSea platform.
Once you’ve done that, all you have to do is deposit your NFT on the platform† In English it corresponds to “mint”. In concrete terms, this comes down to uploading your NFT (in the specified format) on the platform.
For example, to upload an NFT on the OpenSea platform, it must meet the following conditions:
- Maximum file size: 100 MB
- File type image, video, audio, 3D model
- File Format: JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, CAP, GLTF
You can also give it a name and add a short description. The platform also allows you to choose whether to use your NFT . want to sell fixed price or auctionas well as the number of copies you want to sell.
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