NFT technology is becoming increasingly popular. Today, anyone can create a fascinating and profitable token, even schoolchildren and students. No special art or technical education is required. You need to have a flair for online trends or just plain luck. Creating tokens can even be done while playing. There are free NFT games for this purpose.
Tokens have no analogs and are non-interchangeable. Therefore, there is only one specific NFT. This, in fact, is its value, apart from the artistic value that attracts collectors. The digital authenticity of NFTs is proved by means of a record in the blockchain. So, this is a technology that brings real profits. Let us follow step by step how to get them.
1. Create a crypto wallet
Most marketplaces where you can buy or sell NFTs use crypto wallets. In general, the technology of NFTs is very closely related to electronic money. You can use MetaMast, WalletConnect, or Coinbase Wallet. On some marketplaces, it is possible to link a bank card to your account, but electronic money for NFT trading is still the most convenient.
2. Make sure that your wallet is always replenished
To make money on NFTs, it is important to have start-up capital, which you will need to spend on transactions and various commissions. It is worth paying attention to the fact that the tariffs on different marketplaces may also be different. This amount includes the placement of NFTs on the website and sometimes an auction. Marketplaces also take care of transferring money to the owner for the purchase of the token.
3. Choose a marketplace and register
You can find a lot of NFT trading platforms on the Internet. It is quite easy to choose the one that will be most comfortable for you:
- Analyze the website;
- Pay attention to what is sold on it;
- Determine whether your works are in line with the marketplace’s theme;
- Familiarize yourself with the terms of cooperation, especially the tariffs.
If the site really suits you, the only thing left to do is to register and start earning money by selling tokens.
4. Upload the NFT to the website
This procedure is quite simple and fast. No special effort or knowledge is required. You choose the artwork you want to sell. It can be an image, video, or audio. Upload the object to the marketplace. And then the system converts it to NFT by itself. Thus, the blockchain record and the NFT issue will occur only when a buyer is found for the token. This helps the seller to save a lot of money.
When uploading objects to the marketplace, it is worth adding private content or descriptions to them. Buyers like this. Sometimes, the number of copies is also indicated, but usually, there is only one. Uniqueness is what makes NFTs so valuable.
5. Sell NFTs at an auction
The auction is an interesting place where the value of your token can increase significantly, although the time for bidding is limited. However, it is important to remember that the NFT verification procedure can take several days. The advantage of the auction is that you can change the following settings:
- Starting price;
- Auction duration;
- Bid step;
- Currency;
- Sell order.
There are different attitudes towards NFTs. However, the fact that people do make money on them remains undeniable. So, if you have interesting art objects, why not try to monetize them?
Jorden Smith is a passionate writer and researcher with a knack for exploring news and website reviews. With a keen eye for detail and a love for uncovering hidden gems, Jorden’s work is always thorough and informative. When not busy writing, Jorden enjoys traveling and discovering new places. Stay tuned for more insightful articles from this up-and-coming writer.