How to Make and Sell NFT Art – A Complete Guide For Beginners
These days, it’s hard not to hear about NFTs, because the Internet is full of stories about suddenly rich artists who created their own tokens. These stories seem so unreal that they are hard to believe for someone who is not versed in the subject. In our step-by-step guide, we will try to explain how to make and sell NFTs and try to explain what their value is.
What Is NFT Art?
Deciphering the abbreviation for the untrained person does not add clarity. NFT is a non-fungible Token. It is a unique set of encrypted data, which is a reference to a digital object. There is a common opinion that the NFT contains the digital object itself (e.g. a picture), but that’s not true.
To help you understand how to make an NFT and sell it, let’s consider an analogy from the real world.
Suppose you have some object, for example, a picture. You take it and bring it to a certain company. Here, you leave your painting in the warehouse and get a piece of paper with the stamp of the company and the inscription: “The owner of this certificate is the owner of the object lying in place 47 of rack 11 in warehouse G”. This piece of paper is the NFT. Now you can loudly announce that you are selling a Rembrandt painting and put this certificate up for sale for a couple of million dollars. The buyer gets a piece of paper that says he is the owner of a certain object lying in a certain place.
Why is this needed? To confirm the authenticity of the object. What is the value of a Rembrandt painting? In its authenticity, not at all in the subject matter or quality of the image. But even with a real Rembrandt, you can’t always tell the difference between an expensive original and a penny copy. Expertise is needed to confirm authenticity.
NFTs are used for many purposes, including collateral. For more information on the NFT loan topic, with which you can begin your journey into digital tokens visit Drops.
But not everything is perfect.
- NFT does not guarantee that its creator is the real owner of the object. Going back to the analogy above: the firm issuing the certificate takes your word for it. The painting may well be stolen. Or it may not be an original Rembrandt, but a fake. It is not uncommon for a type of NFT to be produced by people who have nothing to do with the actual authorship of an object.
- Even if an NFT is created by an author, there is no guarantee that its buyer will be the sole owner of the object. The actual author of a digital work can “rivet” an unlimited number of tokens and sell them.
- Owning an NFT for an object does not prevent other people from getting a full copy of that object. On the contrary – the objects can be freely downloaded.
- Your ownership does not establish any legal rights in the object. No copyrights are alienated.
- The NFT has value within the confines of the site on which it is released. Back to the real-world analogy again. What happens if there is a fire in that firm’s warehouse? Obviously, the reference would become worth no more than a piece of paper. The same will happen if the site that issued the NFT closes down.
Who Buys NFTs and Why?
More often than not, NFT is bought as an investment or used to make a quick profit. Most buyers are not digital art collectors, but rather stockists. Their goal is to buy low and sell high. What’s behind the NFT listing doesn’t matter. Hundreds of thousands of dollars can buy an artful piece of digital art or a crude 32×32 pixel pictograph.
By buying NFT, people are buying an embodiment of fame. Some people are satisfied with this, and some are waiting for it to become even better known and it will be possible to resell it at a profit. Now back to how to make and sell NFT art.
What Do I Need to Make and Sell NFTs?
Here’s a simple algorithm:
- Starting a cryptocurrency wallet. Most NFT marketplaces work with cryptocurrencies. Let’s look at the most popular one. To sell tokens on OpenSea, you’ll need a wallet for one of the two blockchain networks: Ethereum or Polygon. Moreover, OpenSea’s account is linked to the wallet, and you can log in to the NFT platform through the wallet plugin in your browser. What currency to choose if you don’t have any wallet yet? With Polygon, you won’t have to pay “gas,” and you can sell your digital items without any initial investment.
- Creating a collection. Now you can go back to the first page of OpenSea and connect to the freshly created wallet. You can create your first token here immediately, but experience shows that NFTs sell much better in collections. So it makes sense to create a collection first, even if there is nothing to fill it with yet.
- Create a token and put it up for sale. Now you can add your collection to it and put it for sale.
Next, you should put your collection up for auction. Now that we have explained how to make and sell an NFT step by step, we only wish you success in this field.
