An auction site recently sold a GIF for $60,000. Surprising, Right? It’s even more astonishing to know that the first tweet of Twitter’s founder Jack Dorsey was sold for $2.9 million.
The tweet said, “Just setting up my twttr.”
Today, earning by selling your digital art is that simple. But, there’s a process that you should consider. Also, understanding the concept of NFTs will assist you in converting and selling your digital arts.
Before moving further, let’s have a glance at NFTs. A Non-Fungible Token (NFT) is Blockchain-based tokenization of a collectible object or work of art. It is credible, permitting everyone to see who is the ‘token owner.’
Get set and dive deeper into the process. Below is the entire procedure outlined. The steps are easy; just read them, and you will be well-versed with the complete process:
Step 1: Pick your favorite piece of art
NFT can be created from anything. They can be made from songs, drawings, films, or other digital art. So, first and foremost, find an appropriate piece of artwork that best matches you and that you excel at.
Step 2: Pick an appropriate blockchain platform/marketplace
It is critical to select an appropriate platform for minting (before turning your art into NFTs). Today, there are a plethora of blockchain platforms to choose from. Each platform has its unique NFT token standard, compatible wallet, and marketplace. This implies that an NFT token generated on one blockchain platform can only be sold and bought on that platform.
As a result, picking the right blockchain platform is crucial. In this domain, Ethereum is now at the forefront. MetaMask and Trust Wallet are examples of Ethereum wallets that are prevalent. Tezos, Binance Smart Chain, Cosmos, WAX, and more blockchain systems are also available. For newbies, it is advisable to choose platforms that are easy to use and decrypt. For example, Rarible or the WazirX NFT Marketplace. These platforms have the most basic arrangement and are appropriate for inexperienced users.
Step 3: Buy a minimal amount of Ethereum/supported coin
In most digital art marketplaces, certain expenses are connected with turning digital art into an NFT. You must first obtain a specific amount of the native coin/token to proceed. Remember, every second, the price of coins/tokens varies.
Step 4: Link your wallet to the NFT marketplace
After acquiring the required coins/tokens, it’s time to join the NFT bandwagon by selecting a suitable wallet.
Step 5: Register as an NFT artist
It’s time to transform your digital art into an NFT once the wallet is ready to use. To do so, create an account on the selected marketplace and register as an artist. For security reasons, some marketplaces require the artists to have a digital signature. Once the preliminary setup is completed, you can upload your digital work.
Step 6: Mint your NFT
Now it’s time to convert the content. Every marketplace will have its guidelines for minting. Make sure to read them thoroughly and then only take the next steps. Once you have uploaded your work, the required verifications will be done by the respective marketplaces on the backend. Post that, the process will be complete.
Step 7: Sell your NFT and earn
After successfully minting your NFT, you can offer it for sale. It is also possible to hold an auction or trade the NFT at a set price (on selective platforms).
The paradigm of how artists market and sell their work is shifting because of the emergence of NFTs. It isn’t merely a temporary trend. This market is here to stay, owing to those who respect honesty and appreciate art.
I hope, with this article, you now have an idea about converting and selling your digital arts. In most cases, the artist earns not only profits from the one-time sale of their artwork but also royalties (till eternity of the NFT).
So, dear creative minds, remember – it is not difficult to transform anything excellent into NFT! Get started today.Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.