The non-fungible tokens, or NFTs for short, have become one of the most popular trends in the crypto sector in recent months and years. Meanwhile, more and more people know about NFTs and digital works of art achieve six- and seven-digit sales prices. But how can you sell NFTs easily and safely?
In this article we will discuss trading with NFTs and give you a guide on how to best sell NFTs at a good price.
What are NFTs?
NFTs are the non-fungible tokens. These are digital objects that are unique and based on the blockchain. “Non-fungible” means that the objects cannot be copied and reproduced. This makes each NFT unique. It has a unique digital signature through the blockchain.
In recent years, the NFTs have become particularly known as digital works of art. They cannot be falsified by the blockchain. Digital works of art in the form of NFTs have reached extremely high sales prices in recent years. The NFTs also spread in the areas of fashion and gaming.
What is so special about NFTs?
The NFTs are unique due to the digital signature of the blockchain and cannot be copied and forged. Furthermore, the ownership relationships of an NFTs can be traced with certainty through the blockchain. Fraud is thus excluded in principle in the field of digital works of art.
The uniqueness allows NFTs to achieve extremely high prices when trading and selling. They are increasingly becoming opportunities to promote new products. The combination of uniqueness, anti-counterfeiting and clarity about the owner of NFTs make the digital objects more and more popular. NFTs are taking over the digital space.
Where to buy and sell NFTs?
NFTs can be created, bought and sold. Most trading with NFTs takes place on large NFT trading venues. On these platforms it is possible to create new NFTs. This process is called NFT minting. The process of creating new NFTs we discussed in this article.
Furthermore, you can sell your created NFT via this platform. Other users can buy your NFT either at a fixed price or in a promotion. The NFT trading venues continue to offer large NFT collections. In collections you will find various NFTs that are part of a collection and whose value increases massively due to belonging to a popular collection.
The largest and most popular NFT trading platform is OpenSea. On OpenSea you have access to hundreds of NFT collections based on the Ethereum blockchain. Furthermore, you can mine an NFT, sell your NFT or buy new NFTs.
What can I sell as NFTs?
In principle, you can sell everything as NFTs that you own in the digital space or that comes from you as a creator. You can convert this digital object into an NFT by using the minting process. This process converts your digital object into an NFT based on the blockchain.
For example, you can sell the following digital objects and works as NFTs:
- a digital work of art
- music album
- a tweet
- a digital fashion accessory
How much does it cost to sell an NFT?
If you now want to sell your own NFT, the question naturally arises as to what the process of selling your digital artwork will cost you.
Basically, we have to mention that the mere creation of an NFT, minting, is free of charge on the major NFT exchanges. So you can convert your digital object to an NFT at no additional cost.
However, there are fees when selling an NFTs. On OpenSea, the largest NFT exchange, you pay 2.5% of the selling price when selling an NFT. This is the reward to the platform for the fact that it offers you a reliable and large marketplace for the NFT.
The buyer of the NFTs pays the gas fees incurred during the creation of the NFTs. Because the NFTs are only minted at the time of purchase. So, the buyer pays for the minting process.
Who will buy my NFT?
In order to successfully sell your NFT, you need a good, large and secure marketplace with many users who are potential buyers for the NFT. OpenSea offers the largest marketplace for NFTs.
Other important platforms on which you can sell NFTs are the following:
- SuperRare NFT
The chance that you can sell your NFT at a good price increases with your own reputation. For example, if you create your own collection of NFTs and become better known as an NFT artist, your NFTs will become more valuable.
You can also do marketing for your NFTs to sell them later. A relatively new way is Facebook to promote your NFTs. We have covered the topic of NFTs and Facebook in more detail in this article.
When should I sell NFTs?
The NFTs are currently experiencing a massive hype in 2022 and more and more NFTs are being sold at extremely high prices. At the same time, the market is becoming increasingly competitive. The more people from the mainstream try to get rich through NFTs, the more difficult it will be to make money with NFTs.
With the entry of Facebook in the application of NFTs, you will have an excellent opportunity to sell your NFTs at a good price in the coming weeks and months. However, you should not waste time to become an NFT seller.
When selling, make sure that you leave a serious impression, as NFTs are increasingly associated with scams! Therefore, use a reputable platform such as OpenSea, which can handle your sale safely and easily!