If you read starryai’s last piece on “How to Create an NFT,” you have all the information necessary to begin creating NFTs based on different content like digital art, pictures, music, video game collectibles, and more. But what happens when you finally create an NFT or a larger collection of NFTs? Of course, you can hold your work of art for yourself, showing it off to others. But you can also begin to market and eventually sell your NFTs.
In this follow-up article, we’ll take a look at some of the different steps you can take to increase your chances of selling an NFT after minting it.
The first step to selling your NFTs takes place before they ever get listed on a marketplace. One of the best things you can do to draw attention to your NFTs is to reach out and establish a community. In today’s digital world, many platforms provide you with the opportunity to gain traction. You will want to be present on as many of these platforms as possible, including Telegram, Discord, LinkedIn, Facebook, Twitter, Instagram, and Reddit. You can then use these platforms to promote your NFTs and inform potential buyers.
If you decide to sell digital art NFTs, you are in luck. Many great online communities are built around digital art NFTs, such as r/starryai on Reddit, where users share their creations and interact with one another.
After you have established a community around your NFTs, you can focus on hyping and promoting their launch. You should make this a big deal as it provides the opportunity to spread important news, which third parties can then pick up. Make sure to promote the launch throughout all social media and online platforms to enable a broad reach for your NFTs.
By promoting the launch of your NFTs, you can ensure that there is a growing audience waiting to see them listed on the marketplace.
The next step is to list your NFTs on the marketplace. It’s important to mint your NFTs on the marketplace you intend to use for the sale since it might cost extra to transfer and sell it on another. With that said, paying the fees and listing on more than one marketplace increases the chances of selling NFTs. Some of the largest and most popular marketplaces for NFTs are OpenSea, Rarible, SuperRare, Foundation, KnownOrigin, and Enjin.
After locating the “Sell” button on the marketplace, you'll be guided by prompts to provide various details about each NFT, such as price, auction time limit, and the cryptocurrency required to buy the NFT. The marketplace will then calculate any “gas fees” for recording transactions on the Ethereum blockchain, as well as marketplace fees for listing your NFT.
Now that your NFTs are live on a marketplace, it’s time to do the hard work of promoting them and building a following.
One step you can take to market your NFTs is to get them in a newsletter. Many of the top marketplaces and media outlets focused on crypto and NFTs send out regular newsletters, often featuring NFT releases.
If you are an individual digital artist, look for outlets that like to feature and promote small artists. The NFT community is growing, and one of the most promising aspects is the willingness to encourage creative minds at every level.
Another step you can take to market your NFTs is to reach out to influencers. With the recent explosion of the NFT market, many influencers related to NFTs on social media can increase awareness of your work.
NFTs and today’s digital influencers are a perfect match, especially regarding lifestyle, fashion, and art. If you want to develop a relationship with top influencers, it's important to focus on how the relationship can benefit both of you and have it all laid out before contacting them. Since influencers already have an established loyal community, it is especially useful if you are still building your own.
The last strategic step we’ll cover here is purchasing and collecting NFTs from other artists. When you buy someone else’s NFT artwork and share it through your social media channels, there’s a good chance that the artist will re-share your posts. It is a great way to expand your audience and begin collaborating with others in the NFT ecosystem. If you continue to collect NFTs from established artists, some of their audience will likely migrate to your channels.
The recent explosion of NFT popularity has brought with it diverse communities for every type of NFT, a growing number of marketplaces, and many influencers and collaborators on social media, all of which can help you market and sell your NFTs to the masses.
While the selling prices for NFTs range a bit, there are a lot of artists who are currently thriving selling their artworks as NFTs.
Good things always take time. While there are no known shortcuts, the keys to selling NFTs fast are, 1) Great artwork 2) even greater marketing. You’ll need to be visible to the ideal customer so having your NFTs presented in popular marketplaces are essential to getting them sold out fast. Using your social media presence to build an audience and promoting your work directly to them is also another great way to sell your NFT fast.
In terms of the technicals, you will need to make your digital asset into an NFT. To do this, you will need to create an account & register on an NFT platform of your using. Then, you’ll need to upload your artwork on the platform with a title and short description. Once you sign your work and make the associated payments, the software begins minting your artwork. By the end of the process, you’ll have your NFT ready to sell!
Art is the most popular form of NFTs and sell for the highest price when compare to other kinds of digital assets.
In terms of demographics, Millennials are the top collectors when it comes to NFTs with being 23% of the buyers in the current market. However, generally, NFT buyers range from investors, art collectors, fans and flippers.
Depends on who you ask. However, just like any art and collectibles, we believe that NFTs have value because the community believes it has value. As the time passes, the NFT may gain more value depending on who created it, who has owned it and how it was used.
The only risk to selling NFTs is that they may not sell for a good price or at all. Therefore, there is a small risk factor considering there is a cost to doing business such as registering for a marketplace, minting your NFT and other costs of promotion.
People buy NFTs for various reasons. Some buy NFTs for investment purposes as they believe NFTs may appreciate in value as time goes on. Others buy NFTs because they’re fans of the work and love to collect them.
While a lot of artists have accepted NFTs as a new way of selling art, some are not as enthusiastic about it. The reason being that they feel their artwork is being devalued via the risk of their work being easily copied and stolen. However, that is quickly changing.
NFTs gain value by who has owned it and how the assets have been used as time goes on.