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I recently read about NFT selling twice my salary. Then I decided to venture into it. However, there was a major issue. My best art didn’t make it to the list. Fortunately, I must not be an artist to create and sell NFTs. Although NFTs are meant to help artists monetize their talents, the NFT market has expanded into a market where everyone can sell art legally.
Currently, the ecosystem has matured, with the process becoming more uncomplicated as a platform such as OpenSea is making it possible for people to access NFTs. To help those new in the industry, I will be unveiling the process of creating and selling NFT art. In addition, I will share the steps involved in commissioning the artwork and selling it.
Steps to creating and selling NFT art
Step 1 – Creating NFT art
Honestly, I can’t remember the last time I created art. For someone like me that can draw, I can create something that can be commissioned. Interestingly, commissioning an artwork is relatively easy. However, if the individual doesn’t have the skill, there is another option. The next option is to hire an artist to create art.
When I began searching for an artist, I searched for the top freelancing website. Fiverr has the artists that offer the best NFT artwork in my search. In addition, the price begins from $5, which means I can find any artist within the designated budget. To hire an artist on Fiverr, here are the simple steps I usually follow.
Find an artist
Once I enter the Fiverr website, I use the keyword “NFT illustration” to search and get artists. Here, I also use the filter feature to search based on my budget and seller review. With this, I can shortlist the artists or gigs that suit my style. With many scams available online, it is essential to review the freelancer’s package because Fiverr has three service packages for each gig.
Step 2 – Get cryptocurrency
After getting the artwork sorted, I need Ether to follow through with the process. Ether is the digital currency of the blockchain Ethereum. Virtually, all NFTs are hosted on the Ethereum blockchain. It doesn’t matter what platform is used; There must be ETH to mint NFT because it is built on the Ethereum blockchain. Remember, there are specific fees covering the energy cost of processing the blockchain transaction.
Step 3 – Select an NFT platform
After I have acquired the Ethereum to pay, I need to select the NFT platform of choice. The NFT platform is a marketplace where I buy and sell NFTs. Each platform is unique and would require registering as an artist. However, the most common choice for most people is OpenSea since it charges only once. OpenSea charges a 2.5% fee for every transaction along with the gas fee I have to pay. Nevertheless, applying to join OpenSea isn’t compulsory, and I don’t have to pay any money to mint NFTs. The reason behind this is that NFT isn’t minted unless it sells.
Step 4 – Create an account
One important benefit of using OpenSea is that I don’t have to set or create an account. With a cryptocurrency wallet such as MetaMask and ETH loaded, I get started. It is free to create an account, and the only money I pay is the gas fee. When I created a new wallet, I received a seed phrase, which I saved to protect my account if I lose my password.
Step 5 – Upload collections
After creating the account, I need to upload NFT collections. On my profile icon, there is a create feature. From there, upload the image. Usually, OpenSea allows media files with a size of 100MB. I can add other details to my collection, including a name and link to any website that might provide additional information about the collection or NFT.
Step 6 – Sell the NFT art
I can decide if I want to sell the NFT before creating it. OpenSea provides four listing options for any NFT when I mint it on the Ethereum blockchain. Let’s look at these options.
- Buy now or fixed price – Here, set a special price for the art and a deadline when the listing should end. There is a maximum period of 6 months to list an NFT.
- Auction – It’s similar to auctions on other platforms. Here, I have to list the minimum price for the NFT, and any interested buyers will increase the bid pending when they reach a price I want to accept.
- Reserved – If I have a buyer already interested, I can reserve the NFT. With this, only I can see the NFT when it goes up for sale.
- Dutch auction – In this auction, I set a minimum and maximum price for the NFT.