NFT are the new buzz on the internet everybody talks about. But what is it and how to create and sell NFTs to make money online?
NFT has been the talk of the town for some time now. In 2017, NFT started trending after making its entry into the crypto world. 2021 has been so far a great year for NFTs.
Recording an astounding growth between 2019 to the current period, 400% to be specific, the market size of NFTs surpassed $250 million in 2020.
So, what exactly does NFT mean? It refers to Non-fungible Tokens and this is not something that is entirely new. NFTs refer to both tangible and intangible assets and include the likes of digital artworks, sports cards, and much more.
NFTs derive their value from their uniqueness as no two NFTs are identical. It has helped NFTs grow at a rapid pace as a digital counterpart of the physical rare collectibles.
The upsurge in popularity has led to questions like – How to create NFT and where can I sell NFT? In this report, the Hashant team will answer all your questions regarding NFTs.
Make NFT and Sell it – Explained
To create NFTs, you need three things – A Ethereum wallet, a small amount of Ethereum, and an account on an NFT marketplace. That’s it.
Step-1: Download a Ethereum Wallet
For Ethereum wallets, you can create an account on Metamask, the most popular Ethereum wallet, available as a Chrome extension. Other options in the market include Coinbase wallet, Nifty wallet, and more. An Ethereum wallet will enable you to hold Ethereum and other ERC-20 tokens.
Step-2: Purchase a Small Amount of Ethereum
Once you have downloaded an Ethereum wallet, you will need a small amount of Ethereum in your wallet to cover the fees on the NFT marketplace.
It is important to keep in mind that the prices of Ethereum keep fluctuating. Therefore, purchase 5%-10% over the amount that you will need to cover the fees of an NFT marketplace.
Step-3: Choose a NFT Marketplace and Connect Your Ethereum Wallet to it
The last step is to select an NFT marketplace. To select an appropriate NFT marketplace, you must rate them in terms of ease of selling. There are a number of options available in the market when it comes to the NFT marketplaces. Some of the top NFT marketplaces include OpenSea, CryptoPunks, and Rarible.
Rarible – The Best Place to Sell Your NFT
If you do not want to dive deep into researching the easiest option, then you should look into Rarible. One of the leading names in the NFT space today, Rarible makes it quick and simple to create and sell NFT.
Head over to Rarible and connect your Ethereum wallet to the site by clicking on “Connect” on the top right part of the website. You will see a “Connect to Wallet” page and from here, you can connect your Metamask wallet to Rarible.
After connecting your wallet to Rarible, you will find an option to create a single-piece NFT or a collection of NFTs. The next page will allow you to enter information like sale price, description, among other things.
Once you have entered all the required information, you will be asked to pay a transaction fee. Once the payment is done, your NFT will be available for sale on Rarible.
How to Create an NFT?
NFT is digital art and there are multiple ways to create your NFT. The important criteria are that your artwork must be in a format that an NFT marketplace supports. If the NFT marketplace where you are listing your NFT supports your art file then it means that your artwork is an NFT.
It makes it easier for everyone to create an NFT and monetize it. You can convert any image in JPG, GIF, PNG, and similar formats and list them on NFT marketplaces like Rarible to sell. From the scenery outside your bedroom to the image of your napping dog, everything is a game for NFT.
NFTs open a plethora of unexplored possibilities for artists around the world. If you have what you believe is “Work of Art,” then you should go ahead and follow the steps that we have listed above. Who knows, you can even become the next NFT millionaire.
What are you waiting for? Go ahead and create a NFT masterpiece today and take in millions of dollars.