How to sell NFTs ? These crypto assets are a revolutionary new art form that is taking the world by storm. With its popularity exploding into the mainstream, it might be worth knowing how to make money with this digital asset . This can even be done for free on some of the more popular NFT marketplaces.
In this step-by-step guide, we'll walk you through everything you need to know about turning your digital assets into art and selling NFTs.
NFT stands for Non-Fungible Token and is used to prove ownership of a specific asset. In general, we refer to digital assets when we talk about them. Minting simply refers to creating it on the blockchain.
What can be an NFTs? Basically everything we have and own in the digital space . It can be a tweet, a piece of digital art, or even a music album, but the most successful we've seen in 2021 have been art collections.
With the help of blockchain technology , artists from anywhere in the world can reach art collectors and sell their work securely. The best news about this is that anyone can create and learn how to sell NFTs.
But the process of tokenizing a digital asset, or minting NFTs, incurs a very high energy fee . Most of them are created on Ethereum.
But this network has a big disadvantage when it comes to energy transactions and fees , generally high fees. This will be a sore spot until the network switches to Ethereum 2.0.
While the process of minting an NFT is not much different than uploading a piece of content to a streaming platform, the energy fee is not an insignificant amount and can fluctuate over time. We recommend checking the current prices of Ethereum power consumption fees on Etherscan before minting and selling NFTs.
To mint and craft, you'll need a cryptocurrency wallet, like MetaMask , and some ETH to pay for energy fees. However, in this guide, we will show you how to create and sell NFTs for free using the Ethereum and Polygon blockchains.
To learn how to sell this digital asset, you first need to choose a market where you can mint for free. You will also need a crypto wallet to pay fees and receive payments.
You can create and sell on many specialized platforms , such as OpenSea and Rarible . As for the crypto wallet to sell this digital asset, there are many compatible with these platforms, but we will use MetaMask as it is one of the most popular among cryptocurrency users for how to sell NFTs.
However, one important aspect is that they allow free minting of NFTs, but still charge a service fee of 2.5% (of the selling price) for each listed. This fee goes to the platform and not to the blockchain network.
NFTs are one of the emerging crypto assets of the last year.
MetaMask is one of the most popular cryptocurrency wallets and works as a browser extension on your device . If you haven't used it, go to the MetaMask website and download the wallet to sell NFTs.
If you are new, create a new wallet following the indicated steps. Be sure to write down the secret phrase (using pen and paper) , as you will need it to recover your wallet if something happens to your device. You'll also need to set a password for the wallet, which you'll need every time you want to connect it to a new app.
Connect MetaMask to OpenSea to sell NFTs
Go to the OpenSea marketplace and click on the top right wallet icon to connect your wallet. Select MetaMask and confirm the connection from the wallet (a popup will appear). After your wallet is connected to the market, you will be able to view its profile and create your first NFTs.
You can choose between an individual collection or NFTs. Considering the most popular ones, we recommend coining a collection, as they seem to be more successful than individual ones.
To create a single digital asset, click Create (in the top right menu). If you want to mint a collection , click on the account icon (top right, next to the wallet icon) > My Collections > Create a Collection.
The steps are quite similar for both a single work and a collection. The collection will require additional details and after creating it, you will be able to add items to it and select the exact number of each NFTs to be minted.
To sell NFTs, you will need to provide a few details, including:
- Digital art (image, video, audio, 3D model)
- external link
- Collection (if you have more collections created)
- special properties
- unlockable content
- block chain
Since we are talking about how to sell free NFTs, it is important to select the Polygon blockchain, rather than the default Ethereum. Most have heard that Ethereum is the blockchain for NFTs , but there are others that support smart contracts and minting this digital asset.
Polygon is one of the top networks for this digital asset and crypto transactions as it offers significantly lower fees and faster transaction speed. In this case, it allows the creators of OpenSea to mint NFTs for free. Click Create and your first NFTs will be minted. However, the item is not for sale and you will not find it if you try to search for it using the search box.
To list your NFTs, click Sell (top right). You can set the desired price to sell. Once you've set up all the details, click Full Listing and it will be listed for sale.
Please note that OpenSea has a 2.5% service fee, which will be deducted from the selling price.
Deferred minting, also known as non-energy minting, allows NFTs to be minted at the time of purchase rather than creation and was created to eliminate any upfront costs for new artists. Deferred minting is a feature available on the most popular markets, including OpenSea and Rarible.
The deferred minting method was introduced in late 2021 , as energy fees proved to be an issue for creators, particularly those who are new to the field and don't want to spend a lot before knowing if their work will sell.
With deferred minting, it is possible to delay the cost of minting an NFT through the use of advanced techniques until it is sold to its first buyer. It is practically minted on the blockchain until it is first sold. The data about it is stored in the IPFS, a decentralized file storage system, until it is minted.
The transaction that allocates the NFTs is also responsible for energy fees. That is why the creator does not have to pay any additional costs. A portion of the purchase price goes towards creating the NFTs registry on the blockchain.
Another popular market is Rarible. We'll guide you through all the necessary steps to learn how to sell free NFT art on Rarible. Since you will need a crypto wallet to connect to Rarible, we will use the same MetaMask wallet that we use for OpenSea.
This step is identical to the first step in the OpenSea platform. If you don't have a MetaMask wallet, install and create a wallet on your device . Make sure to keep the secret recovery phrase safe, in case something happens to your device.
Go to Rarible.com and connect your MetaMask wallet by clicking Login > Login with MetaMask.
Once you have confirmed the connection to the market from your wallet and have accepted Rarible's terms of service, you can click Create (top right) and create a new NFTs in Rarible.
Choosing multiple means that you want to create a collection, which is considered a more popular option. However, for the point of our guide on how to create and sell free NFTs, it doesn't make any difference, and that's why we'll choose Single.
You will then need to enter all the details of your new NFTs , including:
- Digital file (image, video or audio)
- I chose the type of listing (fixed price, offers, scheduled auction)
- unlockable content
- Collection (I chose Rarible for free minting)
It is important to choose the Rarible (RARI) collection if you want to benefit from the free minting feature. Also, you need to make sure that the free mint option is enabled, which is actually the deferred mint option in Rarible.
By checking this option, the NFTs are minted only when they are first sold on the platform and the buyer will pay the fees for the minting. Once you've entered all the details and made sure everything is correct (because you can't change any of these later), scroll down and click
After you create this digital asset, it will be available for sale on Rarible. However, until someone actually buys, and it is minted on the Ethereum blockchain, it will not be recorded on the blockchain.
Now that you learned how to sell your NFTs for free on OpenSea and Rarible , you need to focus on the two main aspects, which are building a community around it and promoting it.
Building a community around your digital assets is an important step every new artist needs to focus on in order to sell.
For example, OpenSea and other popular NFT marketplaces use social proof to approve art. OpenSea requires that you include at least a count of the social media channels you use to manage your collection and share it with the public.
You must inform your audience that you are interested in selling. Spread the word as soon as you have your first collection. Experts recommend that you launch limited edition NFTs to increase your sales and followers.
You must learn to market to have the best chance of selling your digital art. You can't just list it and expect people to buy it .
Your NFTs must be promoted to your followers on all available social media channels. Most artists and maker labs use Twitter, Telegram, Discord, and Reddit to keep in touch with their fans.
Now that you know how to sell NFT art on the OpenSea and Rarible platforms, you might be wondering which market is better. This comes down to your community, established fan base, different platform features, and personal preferences. While there are some differences between OpenSea and Rarible, they tend to borrow features from each other to sell .
In the end, these are the two most popular markets and they are quite similar. However, one important difference is the ability to mint NFTs on different blockchains. OpenSea offers creators the option to mint on the Ethereum blockchain or the Polygon blockchain . Rarible offers creators the ability to mint NFTs on Ethereum, Flow, and Tezos.
Because this digital asset is a relatively recent trend, this difference may not exist in the future as the two markets will aim to encourage new creators to join the crypto space.
Another feature available on Rarible is the ability to request a verified badge. Artists may like this feature better , and this could play a role in choosing the best platform to sell NFTs.