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Some tips on creating and selling NFT art

9th May 2022 Print

NFTs have engendered a multi-billion-dollar market, and what makes it exciting is that almost anyone can create and participate in selling NFT art. These include many types of digital art, such as pixel art, photographs, GIFs and paintings. Certainly, some are better at producing more interesting items, or have a recognizable name that raises the price of their NFTs. 

So, what exactly is the process of putting an NFT art up for sale? First, one must have an original digital art. It goes without saying that one should not copy someone else’s online work and sell it as their own, though many scammers still try to do this. 

Next up is searching online for NFT marketplaces where the original digital artwork can be minted. Minting is a method where the ownership and description of the digital asset is recorded and stored on a blockchain

Once this information is saved, it becomes unchangeable, which provides the creator with an immutable proof of ownership. Those who intend to sell their NFT art must also think first if they can afford the minting fees taken by NFT marketplaces—and some are understandably pricier than others. 

Choosing a blockchain is crucial to the creation of NFTs. One must look at the efficiency of the blockchain, as well as the price. Although Ethereum is currently the most widely used blockchain, which is said to corner more than 90% of NFT transactions, it has also proven to be inefficient. 

For instance, the 30-minute Stoner Cats NFT auction produced by Mila Kunis resulted in about $790,000 worth of loss in failed transactions. On top of that, Ethereum uses the platform OpenSea that costs between $70 and $30 to mint an NFT, depending on the current gas fee. 

And this is why it is important to do proper research to find out the most suitable blockchain. The BSV blockchain, though not as popular as Ethereum, is more efficient and practical when it comes to the speed of transactions and transaction fees. 

Now, there are different kinds of marketplaces that sell NFT art, some are more specific about what kind of NFT they sell or for what purpose. There are platforms that focus on selling NFT art and collectibles, while others only carry virtual wearables, sports video clips or game characters. Choosing the best 

After this process the floor and ceiling price of the NFT art can now be set. Auctioning off NFTs does not necessarily take place on where the NFT was created. For example, some of the most expensive NFT art have been auctioned off at popular auction houses like Sotheby’s and Christie’s. 

Some people price their work at a few dollars, while some sell theirs for thousands and millions. It is advisable to set a realistic price, so the NFT art can be sold faster. Of course, looking at recent NFT art sales, there is really no telling how much people are willing to pay for NFT art; although social media promotion and a good name do make a difference.

Creators and sellers around the world have certainly benefited greatly from the lively NFT market. But just like any business, it is important to be careful so as to avoid scammers and inefficient NFT marketplaces.