Selling NFTs Blog

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Create, buy the NFTs of your choice, sell them, and much more.    

 This document is not intended to be advice on financial matters.

As with trading anything is essential that what you're selling appear irresistible to potential buyers. People who are able to accomplish that achievement may be successful selling NFTs.

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•     Where can I sell NFTs
•     How do you sell an NFT

 Where can I sell NFTs

You wouldn't expect to buy an original painting by Van Gogh at the yard sale. Likewise, you wouldn't sell a vintage Rolex watches on Craigslist. We select where to offer items in accordance with their inherent worth and the likelihood of meeting buyers who will pay what they're worth. The same is true for the process of selling NFTs.

Some of the most notable NFT auctions in recent times were conducted by famous auction houses. In the case of Christie's, Christie's sold artist Beeple's NFT "Everydays: the First 5000 Days" to the tune of $69.3 Million (or 42,329 euros) by 2021.

In the early 2022 timeframe, Samsung announced that it would be adding functionality to display, buy and sell NFTs on an exclusive range of smart TVs. Such innovation would make selling an NFT more simple than it is now, using interfaces that connect to marketplaces to the walls of our homes.

A different option is to put the NFT to be sold in a an ordinary gallery like what was done in 2021, at the Art Basel NFT Event in Miami, Florida.

For the most part, however it is best to advertise your NFT's sale on a marketplace such as OpenSea, Rarible and the LooksRare. It's like listing an item for sale on eBay and then receiving the payment through PayPal. The main difference is that the seller transfer the NFT directly to the customer using blockchain rather than dropping it in the mail.

Your selection of NFT marketplace will be determined to some extent by which blockchain the NFT is already on. It is estimated that 90% of NFTs exist in the Ethereum blockchain, and OpenSea (among other blockchains) allows trading of NFTs using Ethereum, Polygon, and Klatyn blockchains.

Once you've decided where to offer them, you're ready to learn the best ways to sell NFTs.

   Beginning with the Basics  

   Fundamentals of NFT--Buy, Make and sell NFTs  

 How to Sell an NFT

The next step is to post it on the market for sale and to make it known to find a buyer. The fundamental principles remain similar regardless of which way you decide to sell NFTs However, for purposes of this article let's assume that you'll post an NFT image for sale through a marketplace such as OpenSea.

Make Your Listing

In the event that you think the information in your NFT is desirable to buyers, the chances of making a sale rise by thinking into the listing and adding every useful piece of information you can.

• Do you know the story behind the picture?
• Do you think the photo has rare traits or attributes which could be worth more?
• Does it belong to an exclusive number?
• Are you certified or have qualifications that increase its value?

The person who is viewing your advertisement is looking for reasons to buy it, either features that appeal to them in its own right or provide them with a higher status or the right to boast. Offer them as many reasons to buy as possible!

Take a look at the following example: a collection comprised of three my personal NFTs that are distinct variations of an altered image of a commercial. For each of the NFTs, in the listing I've listed the place in which the original photo was shot, the source of the idea, as well as details regarding the limited series.

If you're selling an NFT you've purchased from a commercial NFT project, its attributes were likely generated programmatically when it was minted. NFT art projects like Bored Ape Yacht Club make use of computer programs which generates NFTs based on set parameters.

Certain NFTs are given rarer combinations of attributes than others, making their value and worth more sought-after. Every NFT's profile on OpenSea (created in the year of minting) shows these traits and their relative rarity and value for the entire world to see.

NFTs are also ranked on OpenSea by rarity as well as the highest selling price.

When you look at the characteristics of this Bored Ape, it appears to be rather rare. Out of the 10,000 in the series, only 13 percent of Bored Apes feature a yellow background. Just 0.46% have Solid Gold Fur and only 3% wear a Sea Captain's cap. These two attributes make this item extremely rare and highly important.

While you're unlikely to have a Bored Ape to sell, the NFT you're holding may contain the characteristics described on OpenSea and can be used to determine its importance in the collection.

Add further details to your listing if your marketplace allows, such as links to the creator's website and Twitter page, as well as the site's Discord channel. All these sources of information could help persuade prospective buyers.

Select Your Price, Name and Your Format

Your listing is packed with important information, it's time to determine your pricing and choose a selling format.

Your price will need to be able to cover the costs of network and commissions charged by the marketplace. OpenSea charges a 2.5 percent fee on sales revenue, for example. A few marketplaces permit you to offer an NFT for sale without incurring any network fees, only charging fees for when the NFT transfers from seller to the buyer.

In the event that you're selling an NFT that was purchased by a third party who may be able to receive a royalty from future sales. Up to 10% of final cost of the sale could be transferred to the original creator on completion of the sale.

This seems like a financial hit for sellers, but for creators it's major benefit from NFTs, as they'll benefit from any future sales. The payment of this royalty is made automatically through smart-contract technology integrated into the NFT using blockchain.

When determining your sales price consider how much been offered for NFTs by the same author, or for pieces similar to your own creation. If you believe that your NFT is somehow better, rarer, or more desirable over similar pieces that it could be a reason to list at a higher price be aware that market forces are at the helm as well.

Many marketplaces permit auctions or fixed price listings. It is advisable to permit discounts, too, so you won't lose any potential sales.

Promote Your NFT

It is a lot of work to sell everything, even things which aren't necessary in the first place. This is definitely applicable to NFTs. Selling your NFT and passively waiting for buyers will not lead to quick or profitable NFT sales.

Fortunately, there are large communities of motivated and enthusiastic NFT buyers that interact on Twitter as well as Discord. Once you've listed your NFT and promoted it, spread it out and wide in these forums and look for potential buyers looking to expand the collection or even make their first purchase.

NFT "whales" as well as celebrity influencers may post occasionally frequently on Twitter asking creators to reply and post the NFTs that they're selling as well as those who post their work gain valuable exposure. It's important not to shy away from publicity and rather, post your NFT listings in full and openly.

Famous NFT collectors such as entrepreneur Gary Vaynerchuk and musician Snoop Dogg (collecting NFTs pseudonymously under the name Cozomo de' Medici) are two of the high-profile collectors that frequently tweet on Twitter looking for NFTs to buy or promote.

It's also worth investigating the types of artwork that prominent collectors tend to gravitate towards, which can be done by looking through their collection.

Collectors often post pictures of their most recent NFT purchase online. And it is possible to click on the cryptocurrency wallet which holds that NFT to see additional NFTs within their collection. It's a helpful way to identify those who have a keen interest in things you're trying to sell and could be worth contacting.

Think about the Celebrity Effect

Having a celebrity invest into your NFTs may make you rich like the one that happened in the past when Cozomo de'Medici purchased two original NFTs from the founder of"World of Women" NFT project " World of Women" NFT project.

Following their initial funding at 55 ETC (around $182,000) for two NFTs, this project gained immense traction and made a significant amount of money for the creator Yam Karkai as well as raising the profile that she has created for herself.

Actress Eva Longoria is also displaying her World of Women NFT as her profile picture, boosting the attraction of the venture for potential customers.

One final example of the power of direct communication through platforms such as Twitter: Rapper Eminem recently bought around $460k for a Bored Ape #9055 after what some consider to be an effective marketing strategy from its former owner, GeeGazza Twitter.

They have paid six ETH (or about $11.6k) for the device in July 2021. The marketing campaign involved frequent tweets that claimed Eminem was ape-like, which appeared to have been enough to get the rapper to eventually buy it.

Get started selling today

You'll now be aware of the opportunities for creators and traders to make profits through the sale of NFTs. To be successful, you need to ensure that your creation attracts attention and provides the potential buyer value and benefits buyers. Your NFT should be listed in a marketplace that includes detailed and complete details and at an affordable cost. And your marketing and promotion will be constant. It's still your decision if minting, selling, and/or trading NFTs is right for you.

   Do you want to design your Personal NFT?  

   Turn Your Art Into an NFT--Join the World of Digital Art  

 This document is not designed to offer financial guidance.